The Banking Association of South Africa (Basa) has announced the end of a system that allows people to withdraw money from any ATM. In the aftermath of the July riots, the banking association arranged for people to withdraw money from any ATMs without having to pay extra.
This was done to help those who were receiving social grants. The organization said its tax-exempt program had helped 12.5 million people, who disbursed social grants to various banks worth R15 billion. It also pointed out that banks are working with the South African Social Security Agency (Sassa) to ensure that people are able to earn a bank unemployment benefit.
It revealed that 1 976 ATMs were vandalized during the July riots and 332 branches of various banks were damaged. He said efforts to recover stolen money from ATMs were ongoing as well as infrastructure repairs.
The program started on August 1, and ended on September 30. The banking association said that although in some areas the infrastructure had not been properly repaired, the process was over because banks had to be able to afford operating costs. From Friday, people will be charged for withdrawing money from ATMs of banks of which they are not members.
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