Gloomy festive season looms as banks run out of cash

A gloomy festive season is beckoning for many workers as some banks in the city are reportedly running out of cash with depositors being told to wait for fresh deposits and return at a later date. A number of workers thronged Sunday News offices to express their concern over the cash shortage in the banking sector.

They said what was worse was that no explanation was being proffered to them as they were being turned away.
"We have expenses that we need to meet like medical bills and rent. Right now we are stuck as no one is telling us what to do or what the problem is," said one Metropolitan Bank depositor who spoke on condition of anonymity.

When Sunday News visited Metropolitan Bank along Robert Mugabe Way, corner 9th Avenue, people were being given cards with numbers and were being advised to return on Monday afternoon.

The security guard at the bank said failure to produce that card and number on Monday would result in the person being turned away.
"There is no money at the bank today and we are advising everyone to come back on Monday afternoon. The manager is currently not in the office and there is no other senior person," said the security guard.

Metropolitan Bank customers said the bank had sent them text messages informing them that they could withdraw money from any Zimswitch point of sale to a maximum of $100 a day.

The disgruntled depositors criticised the move since every transaction attracts a withdrawal charge and they preferred to get their money once instead of the bits and pieces as it was costly and inconvenient.

"These are our salaries and problems at this bank have been going on for over three months now. If they are facing problems they should communicate and we find an alternative," said another depositor who refused to be named.