BSP to close withdrawal and deposit transactions

By Lee C. Chipongian

The Bangko Sentral ng Pilipinas (BSP) said there will be no cash withdrawal and deposit transactions starting on April 8, Holy Wednesday, and for the duration of Lent week.

In an advisory, BSP Managing Director Josefa Elvira Ditching- Lorico said the BSP will not open its Cash Department on Wednesday to serve its authorized agent banks’ (AABs) cash withdrawal and deposit transactions.

Operations will resume on the following Monday, April 13, 2020, said Ditching-Lorico of the Metro Manila Currency Operations sector.

She also said that all AABs should however continue to observe their schedules for withdrawal and deposit transactions as per an earlier March 20 advisory.

For banks’ cash requirements on April 6 and 7, ahead of Holy Week and the long weekend, they are advised to coordinate with the BSP or just simply submit requests for emergency withdrawal.

The BSP earlier issued another advisory regarding the operating guidelines in servicing the withdrawals and deposits of AABs’ during the enhanced community quarantine which started on March 17.

Among other things, the BSP instructed all AABs’ to conduct their own sanitizing of banknotes before depositing to the central bank.