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Savings & Loans Besieged In Kumasi

botchway September 5, 2018

From Sebastian R. Freiku, Kumasi

Complaints from clients of the Amakom branch of First Trust Savings and Loans Limited in Kumasi indicate the institution is refusing withdrawals by them.

Some of the customers who thronged The Chronicle office in Kumasi, following a report on panic withdrawals at the First Allied Saving and Loans, said with evidence that cheques are, as well, being dishonoured.

One Yaw Boateng, who had gone to cash a cheque of GH¢4,000, which was dishonoured, said this had been going on for the past three months.

Disappointed Yaw Boateng was asked by the Manager to go untill they called him, because they (the Bank) were waiting to receive some funds for disbursement to clients.

The banking hall was virtually empty, with only four persons, including two Lebanese, there at the time the undercover Chronicle reporter visited the bank. The tellers were conspicuously absent, as their cages were empty.

Clients who reported there had to be taken to the Manager as to what must be done about the situation. In most cases, the bank would ask for time as it organised to pay customers.

An official of the bank had indicated that the staff had been instructed to stand by and not close their offices to the public, since that would send wrong signals.

The staff only come in and wait for returns from its mobile bankers, which proceeds are expended on minor claims and withdrawals.

The Branch Manager, a certain Dennis, who denied the absence of cashiers on phone, said the bank was functioning and that it is not true withdrawals were being refused and that cheques were being paid.

The Manager would, however, not speak further on allegations on non-payment of withdrawals, and directed this reporter to talk to the headquarters, but could not readily furnish us with the contact of the officer to respond to our enquiries.

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