3 CBZ branches face closure

Banks are closing physical branches as more personal finance activity moves online and a growing number of consumers would rather open an account or check their balances on their phones than visiting a traditional teller.

Just last week, CABS announced that as part of their rationalisation strategy, branches in Highfield, Highglen, Letombo and Norton will be closing on 31 January 2020.

CBZ has also joined other banks as the Bulawayo fife street and the Joshua Mqabuko Nyongolo Nkomo branches will be closed on the 31st of December 2019.

For Chitungwiza, the Makoni and Town Centre branches will be merged leaving only the Makoni branch.

Customers have been urged to use the CBS mobile app, internet banking and point of sale terminals and ATMs.

Although the banking sector is migrating digitally, not everyone is ready, or wants, to do all of their banking on a smartphone particularly the elderly who aren’t always comfortable using mobile phone apps therefore, the few opened bank branches can help preserve their ability to live independently.

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