Zanaco data clean up, account update exercise takes of

A DATA clean up and account update exercise has been embarked on by Zanaco bank and as part of the process, refunds and reversals may be undertaken to resolve outstanding issues primarily relating to debit card transactions.

The decision has been arrived at to refund customers for long outstanding card transactions collected during the month of January 2022, from various accounts, according to Zanaco Head of Retail Banking, Simon Chuma.

“This is a gesture to say thank you for our customers’ loyalty over the years, and for their utilization of our cards to transact. The initial transactions were made between November 2020 to July 2021 but were not debited from customers’ accounts.

“Ideally, the amounts were supposed to be duly processed following the data clean up exercise, but the bank has taken a decision, on an exceptional one-off basis, to refund the customers in recognition of their loyalty,” Mr Chuma said when announcing the development.

Zanaco has also been running a thank you campaign since 2021 to celebrate its 52 years of existence, in which the bank is awarding transacting customers with K52,000 in a weekly draw, along with other consolation prizes.