Harare, 01 November 2023 – Stanbic Bank Zimbabwe is rolling out USD Cash Deposit
Machines across the country as the leading financial services institution continues its
innovative digitization journey.
The machines allow anyone to deposit cash into a Stanbic Bank account at any time of the
day, round the clock, whether it be a working day or a weekend including Sundays.
Stanbic Bank Head of Personal and Private Banking (PPB), Nelson Muhau said the state-of-
the art cash deposit machines can be utilised without a bank representative or teller by
simply following the promptings once one starts the process of depositing.
Muhau said the institution is amongst the first in the country to rollout these devices that
can take deposits 24/7, 365 days a year.
“The game changing machines have a variety of benefits, chief among them being 24 hours
and 7 days (24/7) access to deposit; safe, fast and effective bulk deposit services with real
time updating of one’s balance, convenience and support through our various 24-hour
customer service platforms,” said Muhau.
He said the machines are currently available in the following branches, Harare (Nelson
Mandela, Samora Machel Msasa, Belgravia, Borrowdale and Southerton); Bulawayo (JMN
Nkomo and Belmont Branches); Gweru and Mutare.
Muhau said the machines will be available 24/7 with the exception of Borrowdale and
Belgravia branches where they will only be available during branch operating hours from
0800 hrs to 1500 hrs.
“The machines are designed for pure convenience; our customers will not have to worry
about missing the official bank operating hours to make their deposits. Additionally, they
can deposit even on Sunday without any hustle or pressure,” said Muhau.
Stanbic Bank clients no longer need to enter the banking halls as the machines are situated
next to ATM machines and the depositing process is self-service, while there will be a
security guard in attendance for the protection of depositors.
Muhau said the machines were part of Stanbic’s strategy for innovation underpinned by
digitisation.
He said the Standard Bank Group subsidiary adopted a digitisation strategy years ago aimed
at staying on the pulse of future technological advancements needs and the cash deposits
machines were part of that drive.
Stanbic Bank’s digitization exercise is in line with world-wide technological advancement
trends within the financial and non-financial institutions aimed at enhancing ease of banking
to its customers.
As part of its digitization strategy Stanbic Bank launched contactless debit cards and POS
machines becoming the first financial services institution to introduce this highly secure
innovative technology onto the Zimbabwean market.
Apart from the “contactless” debit cards and point of sale machines, Stanbic bank, stepped
up functionality of FCAs on its digital banking platforms in addition to launching a
technologically advanced application which allows account holders to pay bills and make in-
store purchases on their phone using QR code scanning through its SlydePay app.
All these products are part of a well thought out digitization strategy which offers
convenience to customers and ensures that clients are beneficiaries of quality banking
technologies.