STRATEGIC PARTNERS
October 1, 2012
A strike by South Africa's truck drivers, now entering its second week, could result in a shortage of cash in the country's ATMs.
Already there are reports that some machines are out of funds, the Citizen said in a report. As a result, at least one FI, First National Bank, is asking customers to use debit and credit cards rather than cash to pay for purchases until the strike is resolved.
FNB senior communications manager, Steve Higgins, said that the bank has not received widespread reports of cash outages — yet.
"ATMs that are likely to be affected by the strike, are the ones in remote areas, but we will continue to monitor the situation that can change over time," Higgins told the Citizen.
There is no indication of when the truck strike might end, though employers and unions have resumed talks, the article said. The parties have so far been unable to agree on a pay raise for drivers.
For more on this topic, visit the vault cash/cash management research center.
