Philippine banks urged to schedule ATM repair during offhours

Philippine banks were urged to schedule maintenance work of their cash machines during late nights or before dawn. The Bangko Sentral ng Pilipinas (BSP) made this suggestion as it expected frequent withdrawals during the Christmas season. The BSP also said it will coordinate with lenders to help ensure that routine maintenance work will be undertaken during off hours so as not to inconvenience customers, BSP Deputy Governor Diwa Guinigundo said in an interview on dzXL radio. At the same time, the BSP official also assured that the central bank has printed and circulated enough currency for consumers’ use during the holidays. An estimated two billion pieces of bank notes in various denominations are generally circulated in the Philippines’ financial system, Guinigundo said. Some automated teller machines (ATMs) have incurred problems “but this does not indicate a shortage of bank notes," Guinigundo said. - with RJAB, Jr./GMANews.TV