Bank M, a new bank in town is coming up with novel banking service called Money safe.
The new product is a night depository service for money after the bank has closed at 8pm.
The bank has installed a special safe with an inlet similar to that of a post box through which a customer can drop the money which will travel through a chute and deposit into the safe.
Bank M`s Head of Sales ? Cash Management Jacqueline Woiso said that the inlet is operated by the customer with a special key provided by the bank.
Money will be packed in a specially designed bag supplied by the bank which can be conveniently pushed into the safe through the specially designed inlet that is under 24 hour surveillance.
The next day the customer visits the bank and the bag is opened in his presence to count the money and account the same.
`The business culture has changed considerably and more businesses are now operating beyond conventional working hours.The banking service in Tanzania still closes by 4pm during weekdays forcing business persons to lock their cash at their premises during night till the banks re-open the next day` commented Jacqueline, adding that this has been a serious inconvenience for businesspersons.
These days we often hear of theft, break in and robbery at factories, shops and residences causing loss of money and life. `Money Safe` is a great relief to the businessman and common man alike,` she said.
She said that Bank M has already installed the service at their Industrial Finance Branch at Nyerere Road and that the facility will also be installed at all their future branches.
`Do not lose your sleep by keeping your money under the pillow. Use our Night Safe facility and sleep well` said Jacqueline.
SOURCE: Guardian
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