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Johannesburg - ATMs may run out of cash due to the ongoing strike in the freight industry, Capitec Bank said on Tuesday.
Spokesperson Charl Nel said the bank was concerned that cash in transit drivers were taking part in the strike.
If the strike continued, he warned, banks may struggle to restock ATMs and large sums of money may remain uncollected at businesses.
"The whole flow of money could be disrupted. If it continues for too long, we will experience the consequences.
"There is a bigger risk over money not being collected," he said.
Consumers could help alleviate the problem by withdrawing money at retail stores such as Pick n Pay and through using their debit cards to make payments, he said.
Standard Bank spokesperson Erik Larsen, however, said there was no cause for concern yet.
"We have enough cash in our ATMs," he said.
The Business Report on Tuesday quoted First National Bank spokesperson Steve Higgins as saying the bank's ATMs had not been hit by the strike.
He said not all the armed guard companies were on strike and in the past, the bank used alternative delivery methods to restock its ATMs.
Striking freight unions were on Tuesday meeting their employers to resolve a wage dispute leading to countrywide industrial action.
The four unions involved in the strike included the Transport and Allied Workers Union of SA, the Professional Transport Workers Union, the SA Transport and Allied Workers Union, and the Motor Transport Workers Union.
The unions have demanded a 20% increase over two years, for example 10% in 2011 and 10% in 2012.
The Road Freight Employers' Association was offering an increase of 7.5% across the board for 2011 and a further 7.5% increase for 2012.
All four unions said they would negotiate on the 10% increase, but would not easily go below 8.5%.
The last freight strike was in 2009. It lasted a week and turned violent. Non-striking truck drivers were shot at, stoned and forced to flee their damaged vehicles.
Spokesperson Charl Nel said the bank was concerned that cash in transit drivers were taking part in the strike.
If the strike continued, he warned, banks may struggle to restock ATMs and large sums of money may remain uncollected at businesses.
"The whole flow of money could be disrupted. If it continues for too long, we will experience the consequences.
"There is a bigger risk over money not being collected," he said.
Consumers could help alleviate the problem by withdrawing money at retail stores such as Pick n Pay and through using their debit cards to make payments, he said.
Standard Bank spokesperson Erik Larsen, however, said there was no cause for concern yet.
"We have enough cash in our ATMs," he said.
The Business Report on Tuesday quoted First National Bank spokesperson Steve Higgins as saying the bank's ATMs had not been hit by the strike.
He said not all the armed guard companies were on strike and in the past, the bank used alternative delivery methods to restock its ATMs.
Striking freight unions were on Tuesday meeting their employers to resolve a wage dispute leading to countrywide industrial action.
The four unions involved in the strike included the Transport and Allied Workers Union of SA, the Professional Transport Workers Union, the SA Transport and Allied Workers Union, and the Motor Transport Workers Union.
The unions have demanded a 20% increase over two years, for example 10% in 2011 and 10% in 2012.
The Road Freight Employers' Association was offering an increase of 7.5% across the board for 2011 and a further 7.5% increase for 2012.
All four unions said they would negotiate on the 10% increase, but would not easily go below 8.5%.
The last freight strike was in 2009. It lasted a week and turned violent. Non-striking truck drivers were shot at, stoned and forced to flee their damaged vehicles.
