The People’s Own Savings Bank (POSB), a leading financial services provider in Zimbabwe, has rolled out 15 advanced Automated Teller Machines (ATMs) across its service centres as part of enhancing customer experience and convenience. This is the first batch of the 30 ATMs project rollout, with more ATMs already on their way to Zimbabwe.
Of the 15 ATMS, five are cash deposits accepting machines.
“The launch of the ATMs is just one of the many initiatives that POSB is implementing to take banking services to the people in line with its mission to provide simple, responsive, innovative and inclusive financial solutions through modern technologies,” said POSB Chief Executive Officer, Garainashe Changunda.
The state-of-the-art ATMs will complement the Bank’s efforts to enhance customer services and convenience.
“While the Bank has established robust digital platforms and encourages its customers to use these for non-cash transactions, we are also cognisant of the diversity of our clientele base and their unique needs, therefore, the ATMs will bring convenience to those in need of cash,” he said.
“We are also privy to the digital divide, hence as part of our thrust to promote financial inclusion, we are building a vast agent network, ensuring that even those in remote areas with limited access to digital platforms, they can still access banking service in line with the President Emmerson Mnangagwa’s mantra that we should leave no one and no place behind,” he added.
POSB Chief Executive Officer, Garainashe Changunda, sampling one of the Bank’s ATMs at Causeway Service Centre in Harare.
In addition to the ATMs, which will bring the much-needed convenience, POSB is also running Alternative Payments sites for pensioners, where the Bank uses more than 30 Zimpost Offices during pensioners’ pay days to allow the elderly to access their NSSA and government pension payouts conveniently in their local areas without having to travel long distances.
In partnership with Zimpost, POSB has also introduced agent off-the-counter services in strategic areas where the POSB customers can access the Bank’s services such as cash withdrawals and deposits, loan applications and opening of instant accounts, among other services, at selected Zimpost offices, including Zimpost Nkayi, Ngundu, Harare Main Post office, Gutu and Mt Darwin. More Zimpost offices will soon be added to offer off-the-counter services.
“Going forward, customers can expect more ATMs in convenient locations, more Zimpost offices offering off-counter services and enhanced digital services on the existing and new platforms. Plans to launch a virtual service centre are already underway,” Changunda added.
About POSB
The People’s Own Savings Bank (POSB) is Zimbabwe’s only 100 percent homegrown savings bank that has served the nation by providing quality, affordable and accessible banking services for over 115 years. Formerly the Post Office Savings Bank, the POSB was established in December 1904 as a statutory fund to mobilise savings for national development. From January 1905 until 1965, the Bank conducted its operations through the Post Office infrastructure network. In 1965, the Post Office Savings Bank Act {Chapter 249} was promulgated thereby providing for the administration of the Savings Bank by the Posts and Telecommunications Corporation (PTC) on an agency basis. Finally, in 2001, the People’s Own Savings Bank of Zimbabwe Act (Chapter 24:22) was promulgated. This Act effectively established POSB as a corporate body, separate from PTC. Learn more about POSB at www.posb.co.zw and follow us on Facebook, Twitter, Instagram and LinkedIn.
