Wave Money agents face cash shortages, with customers left waiting for funds

By DMG 06 Apr 2021

DMG Newsroom
6 April 2021, Sittwe

Wave Money agents in Arakan State are facing cash shortages and people are spending money on transportation and face difficulties overnighting as they wait to take out money at locations some distance from their hometowns and villages.

Residents from some townships in Arakan State travel to the state capital Sittwe to withdraw money from a Wave Money agent, but many are being further inconvenienced due to cash flow delays and lack of internet access, said Ma Yaing Nu, a resident of Sarpyin village in Pauktaw Township.

“There is no internet access in our area. My husband transfers money from abroad. As bank operations are suspended, I told him to transfer money using the Wave Money application. Now, I cannot take out the money and I do not know when I can get the money,” Ma Yaing Nu said.

Daw Than Than San, a Wave Money agent in Sittwe, said the local “super agent” is not adequately filling the cash coffers of sub-agents, meaning customers cannot collect their money though many come to shops like hers to do so.

Residents of Manaung Township are also facing difficulties receiving money from the Wave Money application because the State Administration Council shut off mobile and Wi-Fi internet access.

Fibre internet access is available in Arakan State at the moment but Manaung Township does not have a fibre internet line, with people having to go to Taungup and Thandwe townships to collect or withdraw money.

“People in Manaung are facing difficulties to place orders for goods,” said Ko Aung Myo Thant, a resident of Manaung. “Most cash flow in Manaung is going through Wave Money application and KBZ Bank. So, some businesses are suspended. We cannot order goods.”