The Banking Association of South Africa (Basa) has announced the end of a system that allows people to withdraw money from any ATM. In the aftermath of the July riots, the banking association arranged for people to withdraw money from any ATMs without having to pay extra.
This was done to help those who were receiving social grants. The organization said its tax-exempt program had helped 12.5 million people, who disbursed social grants to various banks worth R15 billion. It also pointed out that banks are working with the South African Social Security Agency (Sassa) to ensure that people are able to earn a bank unemployment benefit.
It revealed that 1 976 ATMs were vandalized during the July riots and 332 branches of various banks were damaged. He said efforts to recover stolen money from ATMs were ongoing as well as infrastructure repairs.
The program started on August 1, and ended on September 30. The banking association said that although in some areas the infrastructure had not been properly repaired, the process was over because banks had to be able to afford operating costs. From Friday, people will be charged for withdrawing money from ATMs of banks of which they are not members.
Content created and supplied by: Sims_content (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More