Banks expect business as usual in new millennium

Published Jun 2, 1999

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Banks say it will be business as usual over the critical cross-over into the new millennium.

All the big banks and the Reserve Bank are co-operating in a forum designed to tackle problems before they even arise and find solutions.

"We have not seen the Year 2000 problem as a means to gaining competitive advantage, rather we're pooling our resources in order to identify and address all possible issues," Dave Main, NBS's Year 2000 Project co-ordinator, says.

"South African banks are among the most technologically advanced in the world," he says.

Main says NBS is ready for Year 2000 and "can assure clients that on Monday January 3, NBS outlets will be open as usual. ATMs and cheque issuing terminals will be fully operational from Saturday, January 1, he says.

"We do not expect service to be interrupted over this period," Standard Bank says. "Our computer systems that monitor and update deposits, withdrawals and balances have been tested.

"Our ATMs will be Year 2000 compliant by June 30, 1999."

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