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
(235 VIEWS)
This post was last modified on July 31, 2017 6:59 pm
The role of social media on how people get their news in Zimbabwe is being…
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…
