BY FIDELITY MHLANGA
FINANCIAL service provider, National Building Society (NBS) has launched an all-inclusive local remittances product, NBS Instant Cash.
It provides a platform for the banked and non-banked customers to send forex locally at the lowest premiums, thereby catering for the needs of low-income earners.
Speaking at the launch, NBS head of marketing Mildret Kujinga said the service will bridge the financial inclusion gap by making t easy for clients to send and receive as little as US$10 per transaction.
As such this will bring convenience to financially excluded communities, who usually find it difficult to send and receive money for domestic consumption home emergencies.
“In addition to working with international money transfer agencies like Senditoo and WorldRemit, the building society has added an exciting local remittances product, NBS Instant Cash to deliver world class services in the remittances space,” Kujinga said.
She highlight that the building society was responding to the market’s demands by bringing about disruptive products for targeted markets.
“We have a national mandate to deliver affordable houses , build dreams and build our societies hence we are continuously rolling out Information Communication Technology driven innovative products to improve the quality of life for Zimbabweans.”
According to the institution, there has been a huge uptake of the new product.
Kujinga said sending or receiving forex via the NBS Instant Cash platform will create a traceable formal transactional history even for the informal sector enabling them to have access to various bank products offered by the institution.
The Instant Cash services are accessible at NBS branches and its various authorised agents dotted across the country.