TBAS receives new cash of coins alleviating some of the shortage
Pago Pago, AMERICAN SAMOA — The Territorial Bank of American Samoa (TBAS) has received the coin order that was announced earlier last month and the ASG owned bank scheduled a designated merchant coin distribution pick up time this week Wednesday at the main branch in Utulei.
The initial distribution is for merchants that submitted a Coin Order form to the bank. Those who didn’t submit a Coin Order form are not eligible to receive coins during this initial distribution, according to a TBAS statement.
The bank received 77 merchant coin orders from its business customers, totaling more than $500,000 in value. The shipment received totaled less than half of the requested amount. And all 77 merchants that placed an order will receive coins, but only to an amount the bank is able to fill.
TBAS said it is working on a second coin order and anticipates the next shipment should be on-island some time next month.
Since early this year, stores were faced with a shortage of coins.