Zimbabwe suspends use of Visa cards

A vendor counts new bond coins outside a bank in central Harare, Zimbabwe December 19, 2016. Photo: Reuters

HARARE - Zimbabwe’s largest bank has suspended the use of Visa cards in the country as the economy struggles to cope with cash shortages.

CBZ Holdings Ltd says charges on transactions have become expensive.

Customers will however still be able to make transactions abroad.

Daily limits at ATMs are set at $250(R 3413.68), $1000 for point of sale and $500 for transactions over the internet.

These measures will be implemented next week.

Zimbabwe introduced the use of bond notes late last year after abandoning its own currency in 2009.

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