Maravi

Barclays scraps ATMs fees

Barclays scraps ATMs fees
By Darious Kapembwa
Wed 23 Mar. 2011, 04:01 CAT

BARCLAYS Bank Zambia has introduced free ATM services for both corporate and retail clients countrywide. Managing director Saviour Chibiya announced at a breakfast meeting in Kitwe yesterday that the bank wanted to standardise its operations with other banks around the world.

“Banks generally charge ATM (Automated Teller Machines) charges and our customers have raised the question as to why they should be paying to withdraw their money and there is logic to that argument,” Chibiya said.

He said the bank had since responded to its customers’ cry and all ATM transactions at all Barclays outlets would be free starting mid next month.

“There is a small fee charged for using ATMs but that same small charge can make a difference to customers and that is why we had to forego the charge to give our customers what they want from us,” he added.

He said the bank would focus its lending to the agriculture sector due to the sector’s contribution to the country’s Gross Domestic Product GDP.

Chibiya said the bank had increased the lending portfolio to agriculture to the tune of 15 per cent.
He explained that the bank would work in collaboration with the Zambia National Farmers Union to manage the risks inherent in the sector.

Chibiya said the bank was making efforts to exceed customer expectations in terms of service provision.

He said other sectors of the economy must do more to ensure that they caught up with the mining sector in contributing to the GDP of the country.

Chibiya said it was not true that Zambia could move away from depending on copper, saying the red metal could work side by side with other sectors as long as those other sectors worked hard.

Labels: ATM, BANKING, BARCLAYS BANK, LEVIES

posted by MrK @ 4:40 AM