Steward Bank goes exclusive with mobile and online banking, no more manual transfers

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Steward Bank, system upgrade, CEO, Money Transfer Senditoo Thunes

So recently, ZB Bank announced that they are no longer going to be processing manual RTGS and internal transfer application forms instead, these transactions will be done exclusively on their internet banking platform. On the other hand, NMB Bank was one of the first banks to move to exclusive online banking and mobile banking for processing these transfers and now, Steward Bank is also exclusive to the same banking methods as NMB.

Yesterday, one of the Techzim team members went to Steward Bank Avondale so that they could do an RTGS. Upon arriving and requesting for an RTGS application form, they were told that the bank is no longer processing manual RTGS transfers and no forms were available at all. This situation wasn’t just unique to us, everyone who was entering the bank and requesting to do an RTGS was met with the same response.

Techzim reached out to Steward Bank and someone unofficially confirms that it is something that has happened. Dr Lance Mambondiani, the CEO of Steward, has since officially responded to the inquiry we had made earlier when this article was published. According to him and his team, they started notifying people about this change on 15 September 2017.

Now, in order to do RTGS or internal transfers, you will have to sign up for their mobile banking or online banking services. With mobile banking, you’ll be able to do the transfers from their USSD platform by dialling *210# or you can use the Steward Bank Square app. Some people have faced problems when trying to do transfers using these methods hence people have preferred to do the manual RTGS as it was more reliable.

However, it seems like when they do work, they work. The other option would be to register for their online banking and you’d be able to do the transfers from their platform. 2 of the 3 methods that are now available for you to do the transfers require you to have an active internet connection so it’s not the most convenient decision.

As long as their USSD works for RTGS then you can have a reliable option to do the transfer. Let us know what you think about Steward Bank moving to exclusive mobile banking and online banking. Will the options be enough for those who are not always connected? Are Zimbabweans ready for online banking?

Update: This article has been updated following the response from Steward Bank concerning the migration to mobile banking and online banking and how they did notify people just not everyone unlike the assumption that was made in the earlier version of the article that claimed that Steward Bank had not notified people. 


  1. Gideon

    we all need to force peopleple, coz some are just rejecting because they are thechnophobic. remember we did not go to school to learn how to use our phones. of cause going exclusive without notifying is bad

    1. but stewart umm pane nyaya

      but everyone knows that stewart ha system challenges. ( and to be honest they seem more capacity issues ie better servers etc) so this option will operate but stewart now has to pay more money to scale their operations or get extra programmers who specialise in efficiency on their current specs.

      1. Anonymous

        I agree with you there, hope their system will accurate otherwise they will be having complains after complains, hope not court cases

  2. Tawanda

    It is not such a bad move ONLY if their platforms are efficient. Recently did a ZIPIT and did not get the confirmation message. You know the conformation is the only proof you can have to show the recipient that you have sent him/her money. Without that it is difficult to prove especially if it takes long for the recipient to receive the money. They should work on their systems that always seem to be “busy”. These platforms will now have to process multitudes of transactions, hopefully they are ready, otherwise they will be serious problems!

  3. Clever MAPUTSENI

    Good idea then if the bank can have a corner with a few networked computers where clients with no easy internet access can do self-service online transfer from the banking hall.

    1. JOHN s

      Yes like what CBZ does

    2. Sam’s son

      That makes it better, some even have wifi at the bank hall so for use with their mobile apps but such things should be communicated so that account holders know. And who knows maybe the app zero rated one day

  4. Ash

    Hhmmm what I don’t like is not notifying us, it’s a sign they don’t take us seriously. The other thing is i linked my Acc to my Ecocash but, it seems the linking process somehow failed and i have to start all over again and i could have done it way back but there queues there are just way too long so registering for all those services to be able to do an RTGS is another story?. I also hope they will improve their systems to be more efficient…why am i saying this? I can only withdraw money from all Steward bank branches but not the Joina City Hall because they said they had a system upgrade and lost my images so they can’t be sure if I’m the real account holder….myGod?

  5. MacChip

    Well done Steward bank!! Not everything needs to be explained and gets a node first from customers. Even if it crushes and gets overwhelmed, it can only be fixed and improved.

    People needs to be moved far away from core banking processes, and interbanking settlement is one of them which needs to be fully automated

    We should be applauding such paperless move if we love our environment.

    Automate to survive, profit margins are getting slimmer everyday

  6. BlackVolta

    I agree with @Ash that banks must see it as an important part of their trade to notify clients when terms and conditions change. It is simply annoying to walk into a branch and look stupid.

  7. I Wonder

    Even up to now sms about transactions go missing. If something as simple as sms goes wrong with them how do they cope with more electronic activity?

  8. Mario

    It’s not a matter of being ready or not its the future and we all have to get into it wether we like it or not perhaps for some people they prefer to go to the bank and join the huge queues.
    This issue is not even debatable

  9. Hmmmh

    It’s a good move really cause muma banks makuita ma unnecessary queues.

  10. Imi Vanhu Musadaro

    Internet banking and mobile banking are very welcome. People will come to use them more and more over time, but, banks must do more to ease it’s use. Most of the internet banking and mobile platforms do not have easily available manuals/cheatsheets on how to get started or do common transactions. Public relations work is just done to get individuals registered, not to teach them how to use the tools. Their systems generally still require a call to customer care to get things done. With NMB internet banking, I recall trying to make a DSTV payment and the system wouldn’t accept the full smart card number (neither can you copy and paste it in 🙁 ), on calling customer care they said to input the first 10 digits only, their system will still link the account. How was I to guess that? Again, when doing an online transfer, it insisted that the recipient account number must be 13 long. After a call to customer care, I needed to “just” pad the account number with zeros till I have 13 digits. It’s not easy to figure that out. Each online transaction thus possibly incurs an additional airtime cost to the client. All this could be avoided with simple validation changes to their systems. Banks must also scrap unnecessary charges on their platforms. Mobile banking seems more like a plan to harvest money from clientele. Some banks charge up to 50c for a mobile balance enquiry or mini-statement, the same price as a 90 day statement printed on as many pages at takes in the bank. The weirdest thing is that some of these paid services on mobile banking are free on internet banking, yet the bank still promote the mobile platform use first.

  11. Sydney

    Great move. That’s what we need from such big players if we are to fully embrace technology.