adminBianca Mlilo, Business reporter
SOUTH Africa Nedbank’s subsidiary MBCA Bank has introduced weekly and monthly withdrawal limits as a way of easing queues at its banking halls.
In a statement the bank’s head of marketing, public relations and communication Dedrey Mutimutema said the service would depend on the availability of cash.
“To ease the burdens of long queues in branches and at the ATMs, we are pleased to advise that with immediate effect, we will be introducing weekly and monthly USD cash withdrawal limits,” she said.
“We will also continue to review the limits in line with our quest to encourage the use of electronic channels and the need to support companies, which provide much needed employment.”
Meanwhile, Barclays Bank Zimbabwe says it will reimburse all its clients who were levied in old withdrawal charges on their transactions this week.
The Reserve Bank of Zimbabwe last week slashed bank charges following a national outcry from depositors who accused banks of robbing them of their hard-earned cash.
The new withdrawal charges are pegged at one percent of the amount withdrawn and are as follows: $20-20cents (ATM), 25c (over the counter), $50 (ATM) 50 cents (over the counter) 63c and $100 (ATM) $1 (over the counter) $1.25.
Last Monday and Tuesday some Barclays Bank clients complained that the old rates were still being charged on their transactions. Barclays Bank public relations officer Mrs Emily Nemapare said the bank was fully compliant with the new charges set by the central bank.
“The bank experienced a slight system delay due to the incorporation of new charging structures, which resulted in some customers being charged the previous withdrawal rates on December 12 and 13, 2016,” she said.
“We can confirm that this system change has since been implemented and customers who were charged the previous rates on these dates will be reimbursed the difference in their accounts. Any inconvenience caused to our customers is sincerely regretted.”
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