FBC Bank has, in a statement, announced the launch of a dedicated Foreign Currency Exchange Centre. The Forex centre will be housed at FBC’s number 76 Samora Machel Avenue branch.
Customers will be able to do the following at the FBC Bank Foreign Exchange Currency Center:
- Prepaid Mastercard deposits
- Prepaid Mastercard de-loads
- Prepaid Mastercard issuance
- DSTV payments
- Foreign currency cash deposits
- Foreign currency cash withdrawals
- Business Travel Allowances
- Holiday Travel Allowances
- General foreign exchange related enquiries
- Resolution of related queries and customer complaints
It’s worth mentioning that other FBC Bank branches can still perform the operations listed above. But I like the idea of customers having a dedicated foreign currency branch. If a customer wants to deal in foreign currency then they would be better served heading to the specialised branch. The forex branch could also cut times in queues for customers dealing who want to deal specifically in forex.
The one shortfall I can see from this is the cost and time to commute to the branch. Unless you are in the area it would make sense to head to the nearest branch and transact there even if the wait time is longer.