CBZ Bank launches local money transfer service, CBZ Remit

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the herald

business journalist

CBZ Bank has launched a local money transfer service that allows customers to securely send and receive money in Zimbabwe as part of the Bank’s need to continually bring convenience to customers.

Dubbed CBZ Remit, the service not only caters to existing CBZ customers, but also non-CBZ customers without domiciled accounts, a deliberate, inclusive and global feat that speaks to CBZ Bank’s unwavering efforts to mainstream financial inclusion. in Zimbabwe.

In a statement, the Bank said that given its national branch network, CBZ Remit will meet the ever-increasing demand to send and receive money securely, a burden faced by millions of Zimbabweans who are in dire need of transferring money across the country securely.

“To access this service, there is no bureaucratic process to follow, but customers simply need to produce their national identity card or passport to send or exchange money. The fee to send money is 2% of the funds transferred, with a minimum of 2 USD and a maximum of 15 USD; these rates are the lowest in the market,” the bank said in a statement.

He said that having a local remittance service, in addition to the wide range of services offered by CBZ Bank, characterizes the bank as customer-centric, meeting their needs in order to make customers’ lives easier. , giving customers a fast platform to transfer money to family, friends and loved ones.

CBZ noted that this development which complements the government’s efforts to move foreign currency smoothly across the country comes after years of successful partnerships with money transfer agents like Western Union, MoneyGram, Mukuru, Express links, Hello Paisa and WorldRemit that CBZ Bank has worked with to promote remittances in the country.

“As a result, the services offered by these international remittance operators remain in place, reiterating the Bank’s recognition of the important role that remittances play in economic growth,” the Bank said.

The Bank said that after beginning this journey of sending and redeeming money locally with Western Union Money Transfer, the Bank’s wealth of experience, operations and branch network nationwide nationality gives it a market advantage.

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