Textacash offers financial inclusion

21 Feb, 2013 - 22:02 0 Views

The Herald

Safe, low cost, easy access
Textacash offers affordable, easy to access financial services for the majority of Zimbabweans. 
Requiring only presentation of an ID and a simple application form to be filled out, the account is processed while the customer waits. 
Giving the customer the choice of transacting either from their cellphone or by using their Textacash card, whichever option is most convenient for them,  means that customers in remote areas that do not have cell phone coverage can still carry out transactions using their Textacash card.
One of the most popular services allows cash to be sent to a cell number.
By swiping a Textacash card at a Textacash Agent or Cabs branch, or by dialling *227# to access their “mobile banking menu” the customer can send cash to any local cell phone number, on any network.
This means that friends and relatives who don’t have a bank account can receive funds safely and at no cost.
The sender carries the cost of the transaction, paying a very low fee of 1 percent of the cash amount plus 20c.
Other Textacash services available include airtime top-up, bank transfers, balance inquiry, mini-statement and purchases.
Financial services where they are needed
Cabs has dedicated substantial resources to the development of the Textacash Agent network and continues to expand the network throughout Zimbabwe.
Agents are situated in cities, high density suburbs, towns and growth points and offer much valued financial and payment services to their communities. 
Customers are able to send and receive cash, register for Textacash, make deposits and withdrawals, purchase airtime, purchase goods and recently pay DStv subscriptions at their local agent. 
The advantage of the agent model is its flexibility — as financial services can be offered where busy communities need them — saving people from having to travel long distances to the major cities to manage their financial affairs.

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