Zimbabwe’s biggest bank, CBZ has set new withdrawal limits for its international Visa card holders who will also now be required to fund their accounts with physical cash before travel.
The card holders will now be restricted to $200 per day on ATMs and $1 000 for International Point Of Sale machines and online transactions.
In January this year, the bank banned all its VISA customers from using their cards to make local payments as the country grappled with a shortage of bank notes.
“In line with market developments we would like to advise that effective 01 August 2017 we have reviewed the terms and conditions of the international visa cards,” CBZ said in a correspondence to Visa card holders.
The bank said although the cash and foreign currency shortages remain unabated while credit remained constrained, it had responded by strengthening market presence and synergies. – The Source
(242 VIEWS)
This post was last modified on July 31, 2017 6:59 pm
Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…
The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…
Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…
Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…
Nearly 80% of Zimbabweans are against the extension of the president’s term in office, according…
The government is the biggest loser when there is a discrepancy between the official exchange…
