BANKS in Cebu City are implementing shortened banking hours for a month as a safety precaution against the Covid-19 pandemic.
Neil Yu, president of Cebu Bankers Club (CBC), said they passed a resolution endorsing shortened banking hours from 9 a.m. to 3 p.m from Monday, March 16, 2020, to Wednesday, April 15.
Yu said they also urge their clients to take advantage of contactless platforms for their transactions.
“As for payments, we highly encourage our depositors and clientele to use our digital channels,” he said.
Banks have already adopted measures like social distancing and sanitation protocols in their branches to prevent the spread of the novel coronavirus following Cebu City Mayor Edgardo Labella’s issuance of Executive Order 52, which placed Cebu City under a state of general community quarantine from March 16 to April 14, 2020.
Surge in demand
“We would like to assure our depositors that we continue to operate to serve the banking needs of the City and the transacting public especially in these trying times,” the CBC’s letter addressed to Labella, read.
Yu said after the declaration of the community quarantine, “significant withdrawals in almost all banks have been observed.”
“People are holding on to cash, and we are expecting a surge in demand/withdrawal for more cash within the weeks to come. Aside from this surge in cash demand, within the week we will continue to cater to the payroll needs of employees, procurement, etc. both from private individuals and from government offices,” the CBC pointed out in its letter.
Mobility
Moreover, the group also requested to allow the entry and exit of their armored vehicles and personnel from Bohol and Cebu solely for the purpose of cash transport.
According to Yu, the cash center in Cebu is the one servicing the physical cash needs of all their member banks in Bohol.
Yu said Labella heeded their request on the condition that the personnel accompanying the armored vehicles shall be subjected to a health check in accordance with the prescribed safety protocols of the Department of Health.
The country raised Code Red Sub-Level 2 over the Covid-19 pandemic, which resulted in community quarantines in several provinces and suspension of air, land and sea travel in some places.