Exim Bank Tanzania promised its customers it has reduced remittance transactions to four hours not 12 hours as accustomed.
Tumaini Mwakafwaga, the bank’s Group Head, Centralized Operations said, “At Exim Bank, we always strive to offer smarter, faster and more secure ways to connect our customers to opportunities around the world.”
“We are now offering four hours same-day remit service, customers are also assured that in case of breach of the timelines, service charges incurred for the particular remittance transaction would be refunded.” He said.
The refund to customers in case of breach shall be applicable for transactions which meet a number of conditions, including submission before cut off time, complete in all respects, without alterations; carry all required supporting documents and when funding account has adequate available balance.
“Remittances which do not meet the mentioned criteria will not be eligible for the refund. Refunds shall also not be considered on rare occasions of system, non-availability due to unforeseen events or disasters,’’ he explained.
Currently, the bank has a total of 37 branches at strategic centres across Tanzania and three banking subsidiaries in Comoros, Djibouti and Uganda.