BancABC Increases Its City Hopper Charges By More Than 100%

The Local banking subsidiary of Pan African group, BancABC’s remittance service City Hopper has increased its charges by more than 100%.

City Hopper, a smart local remittance service which allows customers to send foreign currency between cities throughout Zimbabwe instantly and safely increased its charges from 3% to 7%.

The smart local remittance service increased its charges to match its biggest competitor Mukuru, Mukuru has apparently increased its charges as well.

City Hopper used to charge $3 to send $100 and one would deposit a total of $103 and now they are charging $7 to send $100 which means that one needs to deposit a total amount of $107.

The smart local remittance was launched in 2020 in order to address the national wide challenges of sending foreign currency across the country for the wider public and for those who want to support their families and also to pay for goods and services and other business activities in foreign currency.

BancABC last year announced that they have been thriving in the market and they were able to move over US$10 million (US$10,149,371) since City Hopper’s inception in 2020 which was spread over 77,987 individual transactions.

The business since 2020 has managed to introduce BancABC Chatbot Ally and many other services to improve customer satisfaction.