Stanchart cancels Visa use, as forex shortages bite

One of the Zimbabwe’s leading banks, Standard Chartered, has cancelled automatic use of its Visa debit cards outside the country due to the “increasingly scarce foreign currency resources”.

The bank yesterday said the decision was arrived at to ensure the best use of the increasingly scarce foreign currency, which is disbursed in line with the priority list issued by the Reserve Bank of Zimbabwe (RBZ), when available.

It said the use of the Visa card would now be granted through application for “special consideration prior to travel”.

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