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ZB Bank discontinues manual RTGS, goes exclusive with internet banking

ZB Bank branch
   

ZB Bank recently announced that they will no longer be processing manual RTGS and Internal Transfer application forms. The change will take effect from 1 October 2017. According to ZB Bank, this development is in line with their strategy to go paperless as a bank. As a ZB Bank account holder, you will have to register for internet banking by 30 September 2017.

If you’re an individual, you can register from a branch or register yourself online on their internet banking platform. You will need your card number and PIN to register. Once you have registered successfully your login credentials will be emailed to you and you will be required to log into the platform using your new details and change your password within 24 hours.

Corporate account holders will have to get application forms from ZB Bank enquiries desks, Personal Bankers or Relationship Managers. There’s no doubt that mobile banking has seen a rise in adoption by banks locally as most now have their own mobile applications even. Some people have even warmed up to using these mobile apps.

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However, there’s still that one problem, the applications require you to have an active internet connection which requires mobile data. It’s no secret that data is not the most affordable thing in Zimbabwe so will this factor always reduce the adoption of such banking solutions? Given how internet banking also requires data, will people using ZB Bank be inconvenienced greatly? Or it won’t be that big of an adjustment?

Mobile banking solutions like USSD banking will always be the most convenient as you don’t need any data to be able to do any activity on your account. Interested to know your thoughts. Have you used internet banking from ZB Bank or any other bank? How has it worked for you? Do you think having internet banking as the only option for RTGS or Internal Transfer is a good idea?

ZB Bank


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