The insurance company cited that the absence of references on the transactions has been giving them challenges in reconciling premium payments.
“We kindly request our valued clients to discontinue using ZIPIT Internet transfer for premium payments until further notice.
“Whilst we acknowledge the convenience that the service brings to the payment of premiums, the absence of references on the transactions has posed challenges in reconciliation,” said Old Mutual.
Old Mutual said they engaged ZimSwitch to fix the problem.
“We have engaged the solutions provider Zimswitch and they have assured us that the matter is being addressed through an updated version of the product which is undergoing testing through the banks,” said the company.
ZIPIT is like an RTGS, enabling you to send money electronically from one ZimSwitch connected account to another.