Ver Angola

Banking and Insurance

Lines in the multicaixes: kinguilas replace automatic tellers and charge 10 percent for each survey

The long queues of access to the multicaixes to withdraw money, the lack of bills and the inoperability of some automatic payment machines is for many a frustration. However, some see these problems as a business opportunity: people who own automatic payment terminals (TPA) from several neighborhoods in the capital have been giving kwanza notes for a 10 percent fee to customers of commercial banks who are having difficulty withdrawing money.

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According to the Expansion, these informal 'service providers' have installed themselves outside several banks and are operating as a multicaixa.

Anyone can use the services of the kinguilas, which charge a fee of 10 percent of the total value that people want to raise. For example, every thousand kwanzas raised, 100 kwanzas are charged (corresponding to the 10 percent fee).

One of the kinguilas, in a statement to the same newspaper, said that nobody complains about the fee charged: "Nobody complains because the 10 per cent is given before the customer passes the card in the TPA. We are only charging, because the bank has also been charging us for each operation we carry out and the paper we spend," he explained.

As for the lack of bills, the commercial banks have pushed the blame onto the National Bank of Angola (BNA). Contacted by the Expansion, the banks explained that the BNA put banknotes on the market that were no longer separated by face value, size and year in the computer system that supports the ATMs of some banks.

For this reason, the banks had to make banknotes available from the central bank at the counter, thus causing a shortage of notes in the machines.

A BIC source, quoted by the same newspaper, said that his ATMs registered some prolemmas with the new kwanzas notes, but ruled out the possibility that the clusters were happening due to lack of liquidity.

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