Shopping has suddenly become frenzied ahead of Eid, causing hiccups in the electronic banking system, shoppers and bankers say. A whopping SR15 billion in cash will be withdrawn in the last ten days of Ramadan, putting the electronic banking system countrywide under tremendous strain, bankers warn. In the past two days, the 5,300 ATM machines across the country were suddenly put under immense pressure after government and business employers made early salary payments, sparking the sudden shopping frenzy. Banks have deployed extra personnel to resuscitate exhausted ATM machines round the clock, but the plastic is not quite dependable now, shoppers, cashiers and even the bankers themselves agree. In stores at the snazzy malls, ‘transaction void' rejections of debit-card payment requests are frustrating shoppers. Electronic payment usually comes through after a few attempts on the card processor. But one shopper in Jeddah, who asked not to be identified, told Saudi Gazette on Wednesday that he ended up paying every time he got the ‘transaction void' slip. “I made a purchase of around SR17,000 at a home improvement store,” he said. “The payment came through after two transaction void slips. Problem is, I was triple charged!” Usually, when such discrepancies occur, the electronic banking system automatically redeposits the excess amount in the card-holder's bank account within 24 hours. “But 24 hours have passed and I'm still looking for where my extra SR34,000 payment went. The bank said it would take 2 to 3 weeks for the amount to be deposited back into my account – 2 to three weeks!” Where is the money? “These void yet deducted transactions do not go into our accounts,” the cashier at the store told Saudi Gazette. “When we call the bank, they say the money is lost in the network. What network?” the cashier said, blaming the bank and its network. The Gazette checked with a few banks and got a variety of responses among which was one stark statement by a banker: “Technology can not be trusted all the time, the banker said. “Customers should not solely depend on ATMs during the Eid holidays especially those planning to travel outside the country,” he went on to add. According to the banker, who spoke on the condition of anonymity, the number of debit and credit cards issued in the Kingdom has increased from 6.7 million in 2005 to 9.1 million in 2008. There are at least one million foreign visitors to the Kingdom during Ramadan. The shopper who was electronically overcharged said even ATM machines can goof up these peak-withdrawal days: “If an ATM does not dispense cash, do not repeat the transaction especially if you are making the cash withdrawal from a different bank ATM machine,” he said, sharing what he was told by his bank. The amount would be deducted from the customer's account even if no cash was actually withdrawn, he said. – Okaz __
