The Nsawkaw branch manager of the Nkoranman Rural Bank, in the Tain District of Bono Region, Mr. Eric Saale, says it is highly unnecessary for anyone to engage in “panic withdrawals” because of the upcoming implementation of the Electronic Transfer Levy (E-Levy).
He is therefore advising the citizenry, especially users of Mobile Money transfer platforms, to desist from the panic withdrawals.
Following the passage of the E-Levy Bill by Parliament earlier this month, and subsequent assenting to it by the President, there have been reports of panic withdrawals by a section of the populace to ostensibly evade its payment.
Videos and audio messages about how people could transfer monies to others without paying the E-Levy have since gone viral, with some people making frantic efforts to demonize the introduction of this tax.
It is in the light of this that Mr. Saale insists that any attempt to convert electronic money into physical cash “is an action that can prove detrimental to one’s security and safety of finances.”
“Customers should have to think twice before withdrawing their money. The reason is that once criminal gangs get to know that there is cash in the hands of a lot of people, chances are that there could be a new wave of attacks on unsuspecting travelers,” he said in a media interview.
“Citizens should be cautious to look at the risks involved in withdrawing their monies; it could be too severe because you could actually lose your life. It looks like some people are withdrawing their money without taking into consideration the risk factor, and I would say that, yes, E-Levy is passed, but quickly running to a MoMo vendor and withdrawing your money could be injurious to those who are doing that,” he added.
He was emphatic that the electronic mode of making payments and transacting businesses is the safest way of handling money, and stressed the need for the public to think as such.
“I will still advise people to handle money electronically; it is the safest way to keep cash and even do remittances,” he added.