THE Cebu Bankers Club (CBC) noted a surge in demand for physical cash amid the community quarantine measures which have seen consumers stocking up on food.
CBC president Neil Yu assured that banks in Cebu and nearby provinces are ready to meet the banking public’s needs.
“There has been a surge in cash withdrawals for the past days. All banks are reloading cash in our automated teller machines on time,” Yu told SunStar Cebu.
The community quarantine imposed to combat the spread of the coronavirus disease (Covid-19), has pushed more shoppers to flock to grocery stores to stock up on and buy their basic needs.
Recently, the Cebu City Government adopted the provincial government’s 24-hour curfew for persons aged 65 and above and students—from pre-school age to unemployed post-graduate students in the case of the Province, and minors, in the case of Cebu City.
“We have adequate physical cash supply to accommodate the sudden surge of demand for physical cash,” Yu said.
Banks in the country are also urging the public to use the available digital platforms to avoid contact with surfaces or even strangers who can become carriers of the virus.
Yu said the Bangko Sentral ng Pilipinas regional office in Cebu already assured banks of enough cash supply.
Meanwhile, due to the rising number of Covid-19 infections in the country, the CBC has encouraged the wearing of masks inside bank premises.
“In support of the government’s effort to prevent the spread of coronavirus in the province and cities of Cebu, the CBC is highly recommending the wearing of face masks inside the banks’ premises for all our valued clients including our bank personnel. This measure is in addition to our existing daily preventive routines,” CBC said in a memorandum.
CBC said one mode of transmission of the deadly virus is through droplet spray.
“In order to protect our valued clients and personnel, we are implementing this precautionary measure. Any form of mask, handkerchief or any DIY form of protection shall be allowed,” it added.
The group’s directive is to be implemented temporarily by all member banks at their own discretion starting on March 23, 2020.