NMB Bank launches ATMs with currency exchange function

The country’s largest lender, NMB Bank has launched ATMs which have an option to exchange US dollars, Euro and Sterling pound.

The service will be available at the country’s major airports of JNIA– Terminal III, KIA and Amani Karume International Airport Zanzibar.

“Customers can buy up to $2,000 at one time at the bank’s exchange rate. Moreover, a customer can deposit US dollar, Euro and Sterling pound at the ATM and receive T-shillings. We are conscious of the need to provide the best possible service and this is another convenient service we offer everyone,” said Ruth Zaipuna, NMB CEO.

She pointed out that NMB Foreign Exchange ATMs offer competitive exchange rates, as well as instant and hassle-free cash withdrawal at any time. It is also safer and cheaper than exchanging abroad at foreign banks.

According to NMB boss, clients can exchange their USD, GBP and Euro to T-shillings.

She added that they have started with three major currencies- USD, GBP and EUR while more currencies in the pipe line.

The guest speaker Jerry Sabi, Director of Financial Sector Supervision at BoT applauded NMB Bank to bring in the service, saying it has been attentive and responding to the central bank directives.

“In keeping with global trends Tanzania too should change the way it does business. NMB Bank, the bank, which is in the forefront of innovation, keeping its tradition alive, has introduced this innovative way of exchanging foreign currency into T-shilling through an ATM. I thank the bank and its management for this new methodology and hope there will be many more ‘firsts in the near future,” said Sabi.

He urged the Bank to continue with this process of providing solutions to the clients in the financial sector.

To ensure availability of reliable and efficient foreign exchange services in the country, the bank has quickly stepped in and offered the public (customers and non-customers) access of Bureau de Change services through its branch network of 225 branches countrywide.

The bank has bureau de change facilities operating at KIA, JNIA- Terminal III, Clock tower and AIM Mall-Arusha.

This offering has again positioned the bank as a solution provider due to the closure of Bureau de Change around the country last year.

The government’s call through the Bank of Tanzania (BoT) for banks to step in and improve the cash foreign exchange services has enabled NMB Forex ATM machine to bridge the gap both service availability (24hrs) and safety.