CBZ set new Visa cards limits

CBZ set new Visa cards limits

HARARE, July 27 (The Source) – Zimbabwe’s biggest bank, CBZ has set new withdrawal limits for its international Visa card holders will also now be required to funds 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.