Published On: Fri, Jan 6th, 2017

CBZ suspends local use of Visa cards.

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CBZ Bank has suspended the local use of Visa cards citing the prevailing foreign exchange shortage. The bank says visa card services at ATMs, point of sale and internet payments would only be available outside the country.

In line with market conditions, CBZ has suspended the use of the Visa card on the local market with effect from January 15, 2017. The Visa card will, however, continue to transact outside Zimbabwe and new limits have been set.

The bank has also reduced daily limits: ATM outside Zimbabwe: $250; point-of-sale outside Zimbabwe: $1000 and internet payments $500. The Reserve Bank of Zimbabwe also capped the amount of money one could take out of the country to $5 000.