BOU, make spotchecks on banks

Jul 01, 2010

EDITOR—Recently, I withdrew sh1m from an ATM branch of a certain bank in Kampala. It was the only money I had in my bag and therefore there is no question that there was a mix-up. When I went to Nakumat to purchase some groceries, one sh50,000 note was found to be fake!

EDITOR—Recently, I withdrew sh1m from an ATM branch of a certain bank in Kampala. It was the only money I had in my bag and therefore there is no question that there was a mix-up. When I went to Nakumat to purchase some groceries, one sh50,000 note was found to be fake!

It was passed through the machine when I was watching and therefore the problem could not have been at Nakumat. When I went to the bank to complain, I was rudely told that it was impossible and that I was either confused or wanted to cheat!

I was very annoyed but it was my word against theirs and I had to forfeit the money. That was last week. On Monday this week, a workmate had a similar experience but from another bank. He was luckier than me because he lost only sh20,000. I fear some bank staff connive with thugs to give their customers counterfeits!

I request the Bank of Uganda to do spotchecks once in a while to stump out this vice. I cannot name the banks because certainly they would never admit this and the burden of proof would be on me. I don’t want to be a victim twice.

Name withheld

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