Banks failing to process RTGS timeously

The shortage of cash has resulted in more people using the RTGS system, and this has resulted in a number of banks failing to process the RTGS transactions timeously.   The banks seem to be inadequately prepared for the surge in numbers of people using the RTGS system as can be seen at some banks where the RTGS counter will be manned by one person only.  Transactions are taking up to 72 hours to clear, yet ideally transactions should clear within 24 hours.

More: Herald


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