Arusha – You can now exchange shillings for dollars, euros or pounds at a CRDB Bank automated teller machine (ATM), thanks to the launch of the service at the weekend.
The bank launched a special ATM with currency exchange function at its Meru Branch in Arusha as it targets travellers who require foreign currency while coming in or going outside the country.
“With this forex ATM, we seek to ensure that travellers – whether or not they are CRDB Bank clients – are able to access required foreign currencies with ease, and using modern technology,” said the bank’s chief operations officer, Mr Bruce Mwile.
One will be required to possess a passport to access the service, choose the forex service needed at the ATM – and proceed.
“We are starting with US dollars, British pounds and euros, but plans are under way to increase the number of foreign currencies that can be exchanged,” he said.
CRDB Bank was also working out a plan that would enable the Forex ATM to accept the National Identity Card. The director of Finance Sector Supervision from the Bank of Tanzania, Mr Jerry Sabi, touted the new service, saying it would ensure that the money changing business is conducted in a safe and secure environment.
“I only want to ask you to increase the number of such ATMs across the country, especially at airports, seaports, borders and in other busy areas… I know, you have the capacity to do that,” he said.
The Arusha regional commissioner, Mr Idd Kimanta, said the service – which enables forex trading to be conducted day and night – would stimulate the growth of tourism and business sectors in his area.
original article from the the Citizen Tanzania