Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. According to Wikipedia an estimated 2.5 billion working-age adults globally have no access to the types of formal financial services delivered by regulated financial institutions. For example in Sub-Saharan Africa only 24% of adults have a bank account even though Africa’s formal financial sector has grown in recent years. It is argued that as banking services are in the nature of public good; the availability of banking and payment services to the entire population without discrimination is the prime objective of financial inclusion public policy.
CBZ Bank the game changers in the financial services sector have launched SmartCash an instant account for those that were previously excluded. One simply needs to walk into any of our over 60 branches with their ID, opening deposit of at least US$$5 and in 5 minutes they will walk away with a bank account and a CBZ SmartCash debit card.
Some of the key features include:
- Making purchases and cash back transactions on over 1625 CBZ and Zimswitch enabled Point of Sale Machines
- Access to CBZ SmartMoney our mobile banking platform
- Bill payments
- Funds Transfers to CBZ Bank account holders and ZIPIT (Interbank).
- Balance enquiries
- Mini Statement
- Airtime Top Up Own Cell Phone
- Airtime Top Up Third Party Cell Phone
The journey towards financial inclusion has truly begun, spearheaded by your Partners for Success. Simply walk into any CBZ Bank branch and open your account today. Our team is geared up and ready to take you through the account opening process and a journey that will unlock all the financial service offerings in our diversified financial services group, CBZ Holdings.
For more information, please visit the SmartCash Account page or any CBZ Bank branch countrywide or contact us on 04 748050 79, Direct line 04 791253, or email us at [email protected]