Quality issues force BSP to ditch K20 notes from ATMs

Business

By GYNNIE KERO
BANK South Pacific Limited says it has removed K20 notes dispensing from most automatic teller machines because of the lack of quality notes available.
Group general manager for retail Paul Thornton said in centres like Wewak and most other locations across the country, its ATMs only dispense K50 and K100 notes. The bank acknowledged concerns raised by customers on ATMs in Wewak not being up to BSP’s required standards.
Thornton said the problems were largely related to telecommunications issues and said its technical staff were fixing the matter.
“Our ATMs at Wewak and most other locations across PNG dispense K50 and K100 notes only,” he said.
“We have had to remove the K20 note dispensing from most ATMs due to lack of ATM-quality K20 being available.
“We do continually monitor note quality and should the opportunity arise, as a result of a consistent supply of ATM quality K20 notes, we may reintroduce these notes to ATMs at some locations.
“We do, of course, encourage customers to get cash-outs when making an Eftpos purchase. We remind our customers that merchants are not permitted to make additional charges for that service.”
BSP has eight ATMs operating in Wewak, which is more than it has at a number of other similar-sized provincial centres.

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