Traders threaten to stop accepting money in Coins

Some traders in Lusaka have threatened to stop accepting the money that is in coins citing banks refusal to accept them.

A Trader only identified as Jimmy of Lusaka’s Chawama Township said the banks are refusing to accept the coins when they go to deposit them.

Jimmy who claims to have over 500 kwacha rebased of coins said he was refused by the teller at Zambia National Commercial Bank –ZANACO- to deposit about 200 of the coins.

He told Zambian Eye in an interview on Monday May 20, 2013 that bank tellers told him that they do not have the machines to sort and count the coins.He added that many other people who want to depositcoins are sent back because of the same reasons.

And some churches have started advising their members to stop giving too much of coins as offerings saying they are victimized when they take the money to the banks.

A secretary at one of the church was on Sunday heard telling congregants to minimize in giving coins saying they have difficulties whenever they take the money to the bank.

‘We are not saying that we are stopping to give your offering in coins, but we are only asking that you minimize because we have difficulties in handling these money.

‘When we take to the banks, they always avoid attending to us opting to deal with people that have paper notes’ he said.

It is illegal and an offense according to the Zambian laws for people to refuses to accept any form of money as payment for transaction.