Zanaco's Xapit System Failures

[Frustrated Xapit User]

Dear Zambia,

I recently opened a Xapit account. It was recommended as it comes with a debit card which can be used to make online payments. That's the only reason I opened this account - online payments.

On Tuesday I made a cash deposit into the account. My deposit was posted into the system and I was handed an electronic printout as confirmation of the deposit. It took me a good 30 or more minutes to get back home from the bank. I turned on my personal computer to make my online purchase. The payment was declined. I found this strange as I had put more than enough kwachas to cover the transaction. I immediately checked my balance, and there was the reason the payment didn't go through. My cash deposit hadn't cleared. My little knowledge of banking tells me cash deposits are given immediate value. I kept checking my account throughout the rest of the day, but the balance still showed as uncleared.

The following morning came with another surprise. The balance was showing K1,556 instead of the few millions I had actually deposited. I tried the second time and it gave me the correct balance. Tried the third time, it showed me K1,556 again. After trying and trying again it showed my real balance and I hurriedly made my online payment, which luckily went through this time. I later checked my balance to see how much I needed to withdraw to zero my account. It gave me the figure and I was on my way to the nearest ATM.

At the ATM, another surprise, there was no money in my account. Tried to query my balance using the phone and even that service was also down. That was yesterday.

Today, I checked my balance. It was there. Went to the Zanaco ATM and the withdrawal could not be completed again. Tried to check using the phone, the service was down again. It's so annoying.

I'm new to Zanaco and Xapit in particular, but can someone tell me if these system failures are common with this bank. I'm thinking of not using this bank anymore.

[Sandy]

Oh yes Zanaco and their incompetence is legendary. The Xapit system although convenient often goes down. Many times you get an error just accessing it. Other times you try to buy airtime and right at the end where you enter zero to confirm the transaction, you get error code 142. I have also experienced depositing cash and the balance not reflecting 3 hours later (I checked at least 3 times on my phone just to make sure). I went back to the branch to give them a piece of my mind but miraculously while I was in the banking hall, the balance suddenly reflected. I complained to the cashier who sounded dismissive and bounced me to the manager who did not have a satisfactory explanation, other than the "system" sometimes doesnt work properly and takes a while for cash deposits to reflect. You would think that in this day and age of computers, this should be simple matter to sort out.

As I have noted before, they always win hands down the award for the most incompetent bank in Zambia and they win without even trying hard. They make tons of money and yet cannot fix a simple problem like cash deposits reflecting immediately. Unfortunately, none of the other banks offer a visa card on a transaction only account with no monthly fees. If you have K12million, you can apply for excel banking with stanchart and get a visa platinum card that works online.

[Frustrated Xapit User]

I once called StanChart over these online-activated visa cards. They said the ordinary visa cards are not activated for online transactions because of security issues. But what surprised me is that the visa platinum and dollar-account debit cards are activated. So, do they mean to tell us that there is only added security if you can keep a K12million(excel banking) or $1,000(dollar account) minimum balance. These bankers think we are so dull. The only reason they haven't activated the ordinary visa cards is because they make more money off us if we make international payments using wire transfers.

[Also have Xapit]

How much is the limit on withdrawing on the Zanaco ATM using the Xapit.

[Sandy]

The Zanaco Xapit account only allows you to make transactions totaling K10million in any given month and you can only deposit a maximum of K5million per month. Therefore you can only withdraw a maximum of K5million in any given month. As for the ATM, I am not sure the daily limits for cash withdrawals but I vaguely remember a friend withdrawing K2million, but don't take my word for it as I may be mistaken.

[Guest]

I think that K10million limit is on the accumulated sum of all deposits made within a given month. If that limit is exceeded in any one month, the bank forces you to open a normal savings account.

Do the new banks like EcoBank and FNB have online activated visa cards? Or which other banks have apart from Zanaco?

[roy.simapuka]

yes zanaco xapit was so sufficient not until it got a thousand clients it has became bogus am actually on my way to close that account its a share waste of time.

[Yohani]

roy.simapuka wrote :
> ... its a share
> waste of time.


My honey Simapuka, that word you are struggling to excavate is sheer not share.

A share waste of time would be like if say you took a poop into your clock and then cut out a 90°portion of your own poop from the clock and wasted it. You see?

[Sarita]

Just call your bank and ask them to change your proaensl pin (they might just forward you to some automated # to do this). Be prepared to give your account info and other proaensl info to verify who you are. Another 'good' option might be to request credit card checks from your bank. See if they offer some kind of year promotional rate on the checks so you can easily pay off the account in 'x' amount of months/year. What I would NOT do is visit one of thoes payday loan centers you see advertised on the television.

[ken]

Helo, u can try other banks... Zanaco is totaly unreliable.

[Zola]

I can't believe Zanaco is still in business. A shitty business and a troop of shitty employees to match. Not to mention the Zanaco management who are the factories of shit.