Why you’ll not be withdrawing the new currency from ATMs anytime soon

Kenya news,  Kenyans will have to wait longer before they can withdraw the new currency notes from automated teller machines. This is becau...

Kenya news, 

Kenyans will have to wait longer before they can withdraw the new currency notes from automated teller machines.

This is because all ATMS in Kenya are calibrated to only recognize the old currency that is being withdrawn.

Banks are in the process of ensuring ATMS can recognize and dispense both the new and old currencies.

It is only teller machines inside banking halls that have been calibrated to recognise both the old and new notes

Also affected are vending machines which are rejecting the new banknotes.

Central Bank of Kenya (CBK) unveiled the new generation banknotes as part measures to curb fraud and money laundering in the country.

The new notes were unveiled by CBK Governor Patrick Njoroge during the Madaraka Day celebrations

The CBK Governor said the old Sh1000 note will be withdrawn effective October 1 when they will cease to be legal tender.

“All the older 1000-shillings series shall be withdrawn. By a Gazette notice dated May 31, 2019, all persons have until October 1, 2019 to exchange those notes after which the older 1,000 shillings banknotes will cease to be legal tender,” he said

People with the old currency can walk into any bank to have them exchanged for the new currency.


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