Techzim

Steward Bank goes exclusive with mobile and online banking, no more manual transfers

So recently, ZB Bank announced that they are no longer going to be processing manual RTGS and internal transfer application forms instead, these transactions will be done exclusively on their internet banking platform. On the other hand, NMB Bank was one of the first banks to move to exclusive online banking and mobile banking for processing these transfers and now, Steward Bank is also exclusive to the same banking methods as NMB.

Yesterday, one of the Techzim team members went to Steward Bank Avondale so that they could do an RTGS. Upon arriving and requesting for an RTGS application form, they were told that the bank is no longer processing manual RTGS transfers and no forms were available at all. This situation wasn’t just unique to us, everyone who was entering the bank and requesting to do an RTGS was met with the same response.

Techzim reached out to Steward Bank and someone unofficially confirms that it is something that has happened. Dr Lance Mambondiani, the CEO of Steward, has since officially responded to the inquiry we had made earlier when this article was published. According to him and his team, they started notifying people about this change on 15 September 2017.

Now, in order to do RTGS or internal transfers, you will have to sign up for their mobile banking or online banking services. With mobile banking, you’ll be able to do the transfers from their USSD platform by dialling *210# or you can use the Steward Bank Square app. Some people have faced problems when trying to do transfers using these methods hence people have preferred to do the manual RTGS as it was more reliable.

Advertisement

However, it seems like when they do work, they work. The other option would be to register for their online banking and you’d be able to do the transfers from their platform. 2 of the 3 methods that are now available for you to do the transfers require you to have an active internet connection so it’s not the most convenient decision.

As long as their USSD works for RTGS then you can have a reliable option to do the transfer. Let us know what you think about Steward Bank moving to exclusive mobile banking and online banking. Will the options be enough for those who are not always connected? Are Zimbabweans ready for online banking?

Update: This article has been updated following the response from Steward Bank concerning the migration to mobile banking and online banking and how they did notify people just not everyone unlike the assumption that was made in the earlier version of the article that claimed that Steward Bank had not notified people.