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CABS Joins Others In Stopping Manual Transactions In Branches, They Have Done It Partially Though

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CABS has issued a statement advising customers that they have stopped processing some specific transactions within their banking halls. They join the growing number of Zimbabwean banks that are moving to digital platforms exclusively.

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Growing up the fact seemed to be that CABS had the best real time systems in the Zim financial sector. I don’t know if it was the case but in the circle of adults around me it seemed to be consensus. It was my expectation that CABS would go fully digital soon as well.

They have not gone as exclusive to digital as other banks though:

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WITHDRAWAL OF BILL PAYMENT AND INTER ACCOUNT TRANSFER SERVICES FROM THE BRANCH.

CABS would like to advise its valued customers that the following transactions will no longer be carried out in the branch with effect from the 15th of June 2018.

• Bill payments except DStv

• Inter account transfers

• Mini statements

• Balance enquiry

• ZIPIT

• Airtime purchase

The above services will only be carried out on mobile banking (.227#), mobile app and internet banking. Transactions that can be carried out from the branch include school fees payments, RTGS, NSSA payments and bank statements.

Removal of these services will help us increase our efficiency in branch and provide you with better service.

The surprise service that is still possible in branches is RTGS transfers. I assume CABS is looking out for its numerous customers who are in the rural areas or other places where internet connectivity is not available or reliable. The other banks that have scrapped RTGS from branches already do not have much branch presence if any in such areas.

If RTGS was accessible via USSD I assume CABS would have stopped the service in their branches too. The same goes for bank statements I think. USSD only allows a mini statement to be furnished. DSTV payments of course remain in branch because these payments are remitted in hard currency.

 

CABSDStvNSSA

CABS (formerly Central African Building Society) is a building society in Zimbabwe. CABS is a subsidiary of Old Mutual Zimbabwe Limited, Zimbabwe's largest life assurance organization. Old Mutual Zimbabwe is in turn a subsidiary of Old Mutual PLC - an international financial services conglomerate. The... Read More About CABS

DStv is a Pay TV service owned by South African company, Multichoice. DStv provides a broad spectrum of entertainment, news and information channels subscribed to via bouquets. Bouquets have a pre selected number of channels. In Zimbabwe, the DStv service is provided by Multichoice Zimbabwe,... Read More About DStv

The National Social Security Authority is Zimbabwe's social security company which was established in 1989 in terms of the NSSA Act of 1989, Chapter 17: 04, an act of parliament. The firm administers social security public funds on behalf of about 1,3 million contributors. NSSA... Read More About NSSA

5 thoughts on “CABS Joins Others In Stopping Manual Transactions In Branches, They Have Done It Partially Though

  1. takuvara madziso nechirungu icho chiri pastatement yeCABS,,kuti “Internet Bonking “,transaction that “con” be carried out..- tawana basa isu vadzidzisi kkkk

  2. ..”The above services will only be corned out on mobile banking ..” WTF is CORNED OUT ?
    ..”with affect from” surely with EFFECT from ??? .. “..internet bonking..” f me !! Are they conning us too…” Transactions that con be carried out ..” wow, what a f load of bollocks !!

    1. My apologies. This is wholly my fault. Something went wrong with the OCR

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