Zambo bankers ensure cash in ATM machines for Xmas break

ZAMBOANGA CITY, Dec. 02 (PNA) - The Zamboanga City Bankers & Financier Association has assured the public that automatic teller machines (ATM) of the 30 banks in the City will have enough money for the holiday season and the week-long vacation after December 24.

Development Bank of the Philippines (DBP) Manager and Zamboanga City Bankers & Financier Association President Eduardo Ong said "banks will anticipate the long vacation and how large the transaction will be."

"Bankers will determine how much cash they will keep in their ATMs," he said.

Each ATM unit has different limits on how much money can be accommodated inside the ATM machines.

Ong declined to say how much money each ATM unit could hold.

In the ATM system, the depositor can withdraw money anytime of the day or night without going to the bank or getting into a bank which are closed after office hours to withdraw money.

For those using the ATM, depositors can without only from P20,000 to P50,000.

However, Ong said, there are advantages on these limits because in case ATM cards are lost, the thief can only get the maximum amount as the depositor can already inform the bank to hold the ATM.

In the case of depositors in the passbook system, they have to go to their respective banks to deposit and withdraw their cash.

He advised ATM users to anticipate their money requirement for the holiday and withdraw the right amount before the banks closes by Christmas eve.