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BancABC expands money transfer business



CITY Hopper, a local remittance service offered by financial services outfit, BancABC, is set to expand across the country by enlisting agents.

Launched last September during the peak of COVID-19-induced lockdowns when intercity travel was restricted to essential service workers, the BancABC remittance service has become a vital cog in money transfer services in Zimbabwe.

The service which is currently accessible at all BancABC branches and TM Pick n Pay supermarkets, will be extended to agents to ensure ease of accessibility.

In an interview with Heart and Soul last Monday, Hope Marere, BancABC’s country head of retail and business banking said: “We realise for this service to be relevant it has got to be accessible so we are roping in agents who are going to provide the service for us”.

“We have identified a lot of agents who are in areas where we are not represented and they will provide the service,” Marare noted.

She said the strategy was being rolled out to ensure the service is “convenient, accessible and no one should have to travel long distances to access our service” adding that response to the had so far been overwhelming.

BancABC is in the final stages of engaging the agents.

“Historically, Zimbabweans are known to send money via the bus service. For instance, you are giving money to the bus driver and conductor or a relative who is travelling  to the area you are sending the money to. So, City Hopper was born out of the need to provide an efficient, swift and realisable service to Zimbabweans,” she said.

To prevent money laundering and to ensure safety, the service requires both the receiver and sender to provide an identity document when using the service.

The bank has partnered with local musician Jah Master to promote the service.

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