ATM’s | SA Radio .com

More than R120 Million in hard cash was looted from ATMs and banks during the recent ANC violence that swept through parts of Gauteng and KwaZulu-Natal in mid-July. This amount is much higher than the initial estimates and does not include the repair costs.

At least 1,227 ATMs and 310 bank branches were vandalized or destroyed between July 9 and 17, during the period of violent looting that left hundreds of shops in ruins, killing more than 300 people. This is according to the latest count by the South African Banking Risk Information Center (SABRIC), which outlined the serious consequences of the “unprecedented destruction” ‘of banking infrastructure.

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Sasbo’s Joe Kokela said there won’t be money in many ATMs across the country on Friday. South Africans have been warned to withdraw enough money ahead of the nationwide strike in the banking sector on Friday as ATMs and banking services will be shut down.

The country’s biggest financial union Sasbo said it would bring the industry to a standstill when it protests retrenchments.

Earlier this year, Standard Bank closed 91 branches, affecting hundreds of jobs.

Absa also announced jobs would be at risk because of its restructuring processes.

Over 40,000 finance sector employees are expected to take part in the strike.

Sasbo’s Joe Kokela said there won’t be money in many ATMs across the country on Friday.

“ATMs are mended and programmed by our members so if our members are not at work then there will be no service produced.”

Kokela also had other advice for South Africans.

“If you’re travelling make sure you have enough petrol becau
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Posts tagged with 'ATM’s'

R120 Million Cash Stolen from ATMs and Banks During ANC Riots, Financing More Organized Crime and Corruption!

SA warned to withdraw enough money ahead of banking strike on Friday