BSP assures ATMs to have ample cash during holidays

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

"We have no problem with money supply," BSP-Cebu Director Lawyer Leonides B. Sumbi told The FREEMAN.

The official said the central bank has always anticipated this expected surge in demand.

"This happens every Christmas season," Sumbi said.

The BSP said that all ATMs will be ready for the surge in withdrawals in time of the Christmas shopping period.

She said ATMs will be stocked with enough supply.

Reloading of cash is mostly frequent in ATMs near areas where foot traffic is heavy.

Reloading is what banks normally look into especially during the holiday season.

ATMs should be made available to the public 24/7 unless an ATM runs out of supply or undergoes a system maintenance.

Bank withdrawals include payroll transactions, personal transactions and withdrawals of small businesses.

The Cebu Bankers Club has also projected that money in circulation is expected to increase during the peak Christmas season.

Normally, supply of money increases during the Christmas season when consumer spending usually rises as people receive their bonuses.

Cash withdrawals during November and December usually increase compared to other seasons. (FREEMAN)