Western Union Outlets in Zimbabwe Close Shop Due To Foreign Currency Shortages

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SOME money transfer agencies have closed shop due to failure to access foreign currency from the banks.

As a result, the money transfer agencies have been unable to complete the transaction with the receiver of the funds.

Some Western Union agencies have been putting up notices advising beneficiaries of remittances that they no longer offer such services.

“We no longer offer Western Union services here. Please try Ecobank Nelson Mandela Branch or Easy Link Corner First and Samora Machel next to Reserve Bank,” reads one notice seen by The Herald Business.

The remaining functional outlets in Harare’s central business district are Ecobank Nelson Mandela Branch and Easylink corner First Street and Samora Machel near Reserve Bank, and Quest Financial Services along Second Street.

In an interview with The Herald Business, Quest Financial Services manager Donald Saruro said, “It’s a struggle to get cash. In the normal course of business cash is supposed to be found in the bank but we all know that there is no cash in the bank.”

Despite the prevailing struggles they remain open and are not exclusive to Western Union as they offer Moneygram and World Remit.

Meanwhile, local banks have been accused of taking advantage of the foreign currency shortages, only giving remittances money to those with accounts with the bank and denying service to those without accounts whereas this should be a walk-in service.

One such bank (name withheld) is said to be only attending to those who hold Foreign Currency Accounts with the particular bank and can have their money transferred to the FCA account which, however, attracts extra charges.

“They refuse to give us money because we do not have accounts with their bank,” said an angry customer.-zoomzim

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