cash in transit


Cash that is in between two entities. A transfer has been initiated, but not completed leaving the cash in transit. One of the parties involved may take out a cash in transit policy, which insures that they will receive their money should something occur.

Use cash in transit in a sentence

You should always try and follow your cash in transit so that you know if any problems have come about.

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When money is being transferred from one location to another, it is known as a cash in transit such in when one branch of a bank transfers money to another.

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My brother works for an insurance company on behalf of banks and frequently writes cash in transit policies to protect the bank's money in the event of robbery.

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