Access Forex suspended from domestic money transfer services

The Chronicle

Senior Business Reporter

The Reserve Bank of Zimbabwe has suspended Access Forex domestic money transfer services but its international services are still operational.

Last week, the Apex bank suspended three entities from foreign currency exchange trading as it moved to instill sanity and stability in the financial services sector.

MetBank, InnBucks, which operates under Simbisa Brands and another bureau de charge operator, Rolink Finance, were ordered to stop trading in foreign currency.

In a statement last Friday, Access Forex, financial services firm said the suspension was effective on 22 April.

“Following communication from the Reserve Bank of Zimbabwe concerning our domestic money transfer services, Access Forex will be suspending local money transfers effective Friday, 22 April 2022.

“While we are engaging the relevant authorities with the hope of resuming the service soon, we will therefore not be accepting any cash-inns in any of our branches or partner offices” it said.

However, it said, “international money transfers between South Africa and Zimbabwe and between the United Kingdom and Zimbabwe are not affected by the directive and remain available”.

Article Source: The Chronicle

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