FBC Bank has, in a statement, announced the launch of a dedicated Foreign Currency Exchange Centre. The Forex centre will be housed at FBC’s number 76 Samora Machel Avenue branch.
Customers will be able to do the following at the FBC Bank Foreign Exchange Currency Center:
- Prepaid Mastercard deposits
- Prepaid Mastercard de-loads
- Prepaid Mastercard issuance
- DSTV payments
- Foreign currency cash deposits
- Foreign currency cash withdrawals
- MoneyGram
- Business Travel Allowances
- Holiday Travel Allowances
- General foreign exchange related enquiries
- Resolution of related queries and customer complaints
It’s worth mentioning that other FBC Bank branches can still perform the operations listed above. But I like the idea of customers having a dedicated foreign currency branch. If a customer wants to deal in foreign currency then they would be better served heading to the specialised branch. The forex branch could also cut times in queues for customers dealing who want to deal specifically in forex.
The one shortfall I can see from this is the cost and time to commute to the branch. Unless you are in the area it would make sense to head to the nearest branch and transact there even if the wait time is longer.
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On the contrary, a dedicated branch increases the chances of queues for those seeking to do forex related business, since everyone there is a forex client. More importantly it also greatly increases risk, both for the bank and even moreso for the customer. Thieves can target individuals leaving this centre and with the increase of armed robberies the bank could also be attacked.
The most negative race on the planet,.zombos see negativity in everything,..but i think it comes from this notion which has become our curse that we the most literate or educated on the African continent,..we have lost all humility because we think we know too much even things outside our sphere or profession