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April 17, 2023
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Due to inflation, Cubans need more money and ATMs cannot cope

Due to inflation, Cubans need more money and ATMs cannot cope

The assertion of the financial authorities of Sancti Spíritus, through the official press this Monday, that there is no shortage of cash in the bank offices comes up against, once again, the testimonies at street level, who deny that this is the case .

“I am going to be categorical in this, none of the Banco Popular de Ahorro entities has ever stopped paying the salary due to lack of money. It may be that somewhere they have to collect on the 7th and have done so on the 8th, but they have received “he told the newspaper Escambray Maria Efigenia Caballerodirector of the Banco Popular de Ahorro (BPA) in the province, referring to the rumor on the streets that state workers will not be able to collect their salaries due to lack of cash at ATMs.

Ladys Mora García, a bank employee, confirmed that there have been delays in some payments and her response gives clues to the real problem. The Cuban peso is worth less and less and more money is needed, so it is necessary to replace more and more at ATMs. “In our banks there is money, but the salary amounts are very high, you have to organize the issue of withdrawals. Before we had a discipline, the entities 72 hours in advance had the possible breakdown of the cash they demanded. That’s what there is to rescue him,” he added.

The same explanation flies over the entire text, which places the BPA ATMs in Sancti Spíritus at 11, many of them old and overexploited, but operating – they maintain – normally. This says to 14ymedio a man from Sancti Spiritus who lives on the northern outskirts of the city, “it is simply a lie”: “Actually there are nine and they are not located in all the towns but in the center. For example, I have to travel around six kilometers to get to an ATM, and it’s not always working.

“Many times you go and the ATMs don’t work because there is no power, other times the queues are huge or someone’s card got stuck”

María Efigenia Caballero, deputy director of the entity in Sancti Spíritus, spoke to Escambray that “the BPA rules that 365 days a year and 24 hours a day, ATMs are available 85% of the time” and that “the rest is to replenish them, keep them online.” Lydia, a neighbor from the center of the city, denies it: “Between the blackouts and maintenance, they spend most of the time without working.”

This newspaper confirmed that this weekend money could not be withdrawn from ATMs in the city due to lack of cash availability. The workers of the entities affirmed in the official press this Monday that the problem occurs precisely at those moments, when there is no one available to inject bills.

“Making a change of drawer takes time and during that time they are kept out of service. And they ran out of money because people made a lot of withdrawals, like last weekend, which coincided with a holiday and with the days of payment of salary,” he argues.

The official accepts that high denomination bills are sometimes missing, but affirms that they have never run out of money. “The withdrawal levels that are produced today due to inflation are very high for the denominations that the ATMs deliver and that causes us to have to replenish many times. This is not so complicated during working hours, but when it occurs on weekends the colleagues have to come from their homes”, he defends himself.

Another young man explains that the arguments that it is the weekend does not make much sense: “Many times you go and the ATMs do not work because there is no power, other times the queues are immense or someone’s card got stuck. The other day I took out a thousand pesos and the cashier gave them to me in bills of 10. Imagine the amount of money and the time it takes to complete the operation.”

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