Business / Companies
Steward Bank quashes social media reports
20 May 2017 at 07:28hrs | Views
STEWARD Bank has quashed social media reports claiming that the financial institution would be freezing its clients' accounts and limiting its transfers.
Panicky account holders yesterday allegedly called the bank while others went to inquire in person about the truthfulness of the viral message.
The message read: "Alert If you have an account with Steward Bank pliz transfer your money to another bank with the next 24hrs, Steward bank is about to freeze your accounts and you won't be able to access your money for next 6 months the process has already started others are already failing to access their funds…..
Please forward this to your relatives or friends before they cry (sic)."
A number of Steward Bank clients yesterday said they believed the message because they have been struggling to access their money or use plastic money facilities with the bank telling them that it had challenges in its information technology department.
In a statement yesterday, the bank described the social media messages as fake and malicious.
It reassured account holders that it was conducting business as usual.
"Steward Bank has no plans to restrict, freeze or limit customer transactions in any form and for any period as suggested," read the statement.
"Whilst we have experienced some intermittency with our RTGS platform due to the increase in the volumes of the transactions being processed, all our platforms are fully functional with customers transacting as normal."
The bank advised clients to ignore the fake announcement and to contact the bank if in doubt.
The fake social media announcement comes barely a week after the Reserve Bank of Zimbabwe Governor Dr John Mangudya dismissed online claims the apex bank was introducing bigger denominations of bond notes.
The fake reports circulating on social media platforms such as Twitter, Facebook and WhatsApp claimed the RBZ was going to release $10, $20 and $50 bond notes effective May 15.
Dr Mangudya described the social media claims as dangerous and unnecessary.
He said they were causing anxiety, panic, alarm and despondency within the economy.
The country's citizens have been fed with various false social media claims, some of which are damaging and assassinating people's characters.
The Government through the Ministry of Information and Communication Technology, Postal and Courier Services is working on a Bill to regulate the use of the internet and curb social media abuse.
Panicky account holders yesterday allegedly called the bank while others went to inquire in person about the truthfulness of the viral message.
The message read: "Alert If you have an account with Steward Bank pliz transfer your money to another bank with the next 24hrs, Steward bank is about to freeze your accounts and you won't be able to access your money for next 6 months the process has already started others are already failing to access their funds…..
Please forward this to your relatives or friends before they cry (sic)."
A number of Steward Bank clients yesterday said they believed the message because they have been struggling to access their money or use plastic money facilities with the bank telling them that it had challenges in its information technology department.
In a statement yesterday, the bank described the social media messages as fake and malicious.
It reassured account holders that it was conducting business as usual.
"Steward Bank has no plans to restrict, freeze or limit customer transactions in any form and for any period as suggested," read the statement.
"Whilst we have experienced some intermittency with our RTGS platform due to the increase in the volumes of the transactions being processed, all our platforms are fully functional with customers transacting as normal."
The bank advised clients to ignore the fake announcement and to contact the bank if in doubt.
The fake social media announcement comes barely a week after the Reserve Bank of Zimbabwe Governor Dr John Mangudya dismissed online claims the apex bank was introducing bigger denominations of bond notes.
The fake reports circulating on social media platforms such as Twitter, Facebook and WhatsApp claimed the RBZ was going to release $10, $20 and $50 bond notes effective May 15.
Dr Mangudya described the social media claims as dangerous and unnecessary.
He said they were causing anxiety, panic, alarm and despondency within the economy.
The country's citizens have been fed with various false social media claims, some of which are damaging and assassinating people's characters.
The Government through the Ministry of Information and Communication Technology, Postal and Courier Services is working on a Bill to regulate the use of the internet and curb social media abuse.
Source - chronicle
