CBZ Bank has launched a local remittance service that enables clients to safely send and receive money within Zimbabwe as part of the Bank’s need to continually bring convenience to customers.
Dubbed CBZ Remit, the service caters not only to existing CBZ clients but also to non-CBZ clients without domiciliary accounts.
In a statement, the Bank said given its nationwide branch network, CBZ Remit will address the ever-increasing demand to securely send and receive money. The bank said in a statement:
To access this service, there are no bureaucratic processes to be followed but customers simply need to produce their national ID or passport in order to send or redeem money. The charge for sending money is 2 percent of funds being remitted, with a minimum of US$2 and maximum of US$15; these rates are the lowest in the market. Accordingly, the services offered by these International Money Transfer Operators remain in place reiterating the Bank’s recognition of the significant role remittance inflows plays in driving economic growth.
CBZ has over the years partnered with money remittance agents like Western Union, MoneyGram, Mukuru, Express links, Hello Paisa and WorldRemit to promote remittance inflow into the country, an experience that the bank says gives it the edge in the market.