BSP-Cebu assures ample cash in ATMs during the holidays

CEBU, Philippines - The Bangko Sentral ng Pilipinas-Cebu Regional Office assured the public there will be enough supply of cash in automated teller machines (ATMs) now as the holiday rush takes place.

BSP-Cebu Director Lawyer Leonides B. Sumbi said that all ATMs will be ready for the surge in withdrawals in time of the Christmas shopping period.

“All denominations will be available. ATMs will be stocked with enough supply,” Sumbi told The FREEMAN in an interview.

The BSP official said that reloading of cash is mostly frequent in ATMs near areas where foot traffic is heavy.

Sumbi said that reloading is what banks normally look into especially during the holiday season.

ATMs, she added, should be made available to the public 27/7 unless an ATM runs out of supply or undergoes a system upgrade.

‘BE VIGILANT’

The official warned anew the public to be wary of possible ATM skimming which is an illegal copying of information from the magnetic stripe of the ATM card through a skimming device.

“The public should always be vigilant,” she said.

Sumbi further told the public to be vigilant against fake bills circulating during the Christmas season, although she claimed that they come in everyday.

In an earlier interview, Cebu Bankers Club President Maximo Eleccion said that there’s so much money in circulation during Christmas because people usually receive their bonuses.

“The more money in circulation the bigger the chance for the circulation of fake money to succeed,” Eleccion said.

The bank executive advised that as much as possible, the public should always check the security features of the money to verify if it’s genuine. Genuine bills are naturally rough. (FREEMAN)