You’ve probably seen a few exciting changes taking place and we are sure you have some questions.
Here are some answers.
When did you start trading as Absa?
We started trading as Absa Bank Zambia PLC on 10 February 2020.
Who is Absa Group Limited? Who is Absa Bank Zambia parent company?
Absa Group Limited (‘Absa Group’) is Absa Bank Zambia PLC’s parent company and is listed on the Johannesburg Stock Exchange in South Africa. We’re one of Africa’s largest diversified financial services groups, offering an integrated set of products and services across personal and business banking, corporate and investment banking, and wealth, investment management and insurance. The Group has a presence in 12 African countries, and an international representative office in London and New York. We have approximately 40 000 employees, more than 1 000 branches, and approximately 10 000 ATMs.
The Group’s registered head office is in Johannesburg, South Africa and we own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique , Seychelles, South Africa (Absa Bank), Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia. The Group also has representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia.
Historically, Absa started in South Africa, but the new Absa brand (which we’ve have officially adopted) represents a uniquely diverse African banking group whose purpose is to bring possibility to life.
Why did you change from Barclays to Absa?
While Barclays continues to have a significant stake in our parent company, Absa Group, it’s no longer the majority shareholder and the Group has been working to separate its operations in Africa from those of Barclays PLC. We have already separated our Zambia operations from Barclays and we are now legally and officially Absa in Zambia. The rename gave us a great opportunity to roll-out a name and brand that reflects our identity in Africa and to unite behind a single brand and purpose which is to bring possibility to life.
Why did you decide on Absa as the new brand?
We know how important a decision like this is, and, before coming to any conclusions, Absa Group consulted widely with employees, customers, regulators and other stakeholders across the continent. The outcome of these discussions was that the Group needed one brand to unite operations across Africa. The Absa brand is already well-established and well-known in parts of Africa, and has strong African and international banking credentials. We are excited to have begun a new era as Absa in Zambia.
Do you still have a link to Barclays PLC, even now that you’ve rebranded to Absa?
Barclays PLC continues to be a key stakeholder and shareholder in our parent company, Absa Group Limited, owning 14.9%.
Can I have the same confidence in the Absa brand as I had in Barclays?
Absa Group is committed to building on Barclays’ heritage in Africa and the strengths that
we already have on the continent. We have a deep history and local knowledge in Zambia. Our main products and services haven’t changed, and our customers can bank with us as confidently as they always have.
Is my money safe with this bank?
You can bank with us as safely as you always have. Absa Group is one of the largest banking groups in Africa, with a balance sheet of more than USD$91 billion (as at 30 June 2019) as well as new systems with robust security provisions.
What has changed?
Our name has officially changed to Absa Bank Zambia PLC. In recent months, you may have seen us introduce a warm, vibrant red color palette across our branches and ATMs. This process will continue, and eventually all Barclays branding will be removed across our operations. There may still be some Barclays branding visible for the next few months, but we’ll remove all such branding by June-2020 at the latest, in line with our parent company’s agreement with Barclays PLC.
All customer services continue as before, and customers are encouraged to apply for newly-branded Absa cards and cheque books and download our updated mobile apps.
What has changed:
- Our banking site is now www.absa.co.zm
- Branch colleagues have stylish new uniforms reflecting our new warm, vibrant red color palette.
- Customers can look forward to new and innovative products and services from Absa Bank Zambia PLC.
What has not changed:
- Cards, accounts, cheque books etc. continue to work as normal.
- The look and feel of all channels (e.g. ATMs, internet banking, mobile banking and our official mobile banking app) has changed, but they work as usual.
- Our branches continue to operate as usual during normal banking hours.
What do the recent changes mean for me as a customer? Do I need to do anything?
You do not need to do anything as a result of the changes you’ve seen, but we do encourage you to apply for newly-branded Absa cards and cheque books, and to download our updated mobile apps. You can look forward to a new, refreshed banking experience with us going forward, under the Absa brand.
Do these changes affect products and services?
No, our name change has not affected your existing products or services. In fact, you can look forward to new and innovative products and services now that we’ve changed to the Absa brand.
Have my bank charges/rates changed? Will my bank charges/rates change?
Bank charges and rate changes happen from time to time in most banks. Any changes to bank charges or rates will not be a result of our name change, but would happen as part of our normal course of business.
You must have invested significant resources in the rebranding exercise. Will I be paying for this?
The cost of implementing and communicating this rebranding has been carefully planned, and will be paid by our company. It will not be, and has not been, passed on to our customers.
Does my card/account/app, etc. still work?
Yes. Our name change has not affected the functionality of products or services. Your account and cards and existing banking platforms continue to work as they always have, although they now bear the Absa brand. We encourage you to apply for newly-branded Absa cards and cheque books, and download our updated mobile apps.
Does my Barclays-branded card still work in the ATM and at branches and points-of-sale?
Yes, all your Barclays products and services work in the same way as they have in the past. Barclays-branded cards will be replaced with Absa-branded cards when they expire.
Are there any additional transactional charges for using a Barclays-branded card in an Absa ATM or point-of-sale (POS) machine, and vice versa?
There are no additional bank fees or charges on any of these transactions.
Are you issuing new cards?
All new cards issued from 10 February 2020 bear the Absa brand. Barclays-branded cards continue to be valid until they expire, at which point we will replace this card with an Absa-branded card.
Are you issuing new chequebooks?
You’re encouraged to apply for new Absa-branded cheque books, and all new cheque books issued from 10 February 2020 will bear the Absa brand. We (and all outlets) will continue to accept Barclays cheques as payment, even now that we’ve changed our name to Absa.
Do I have to change my account details?
No, our name has changed, but your bank details have not. You do not need to change your account details. We urge you to be vigilant at all times, as fraudsters are always looking for opportunity to obtain important personal information by masquerading as your bank. They may use our name change as an opportunity to ask you to change your details.
Such messages do not come from us – your bank account details (including account number and branch code) will not change.
Does your name change affect the current loan agreement I have with Barclays
There is no change to your current loan agreement with Barclays.
The contracts do not require changing, now or in the future.
Will there be staff changes now that you’ve changed? Can I still deal with the same tellers/branch manager I know?
Our name has changed, but how we serve you on a daily basis has not changed, so you can bank with us as confidently as you always have.
I can still see Barclays branding here and there. When will the change to Absa be complete?
Our legal change to Absa Bank was completed on 10 February 2020 and we are now officially known as Absa Bank Zambia PLC. There may still be some Barclays branding visible for the next few months, but we’ll remove all such branding by June 2020 at the latest, in line with our parent company Absa Group’s agreement with Barclays PLC.
Why do I have both the Absa logo and Barclays wording visible in my monthly account statement?
For a short period of time you’ll see reference to both Absa and Barclays in various printed and electronic collateral. The reference to Barclays in this instance is purely transactional and refers to any activity made on your account prior to 10 February 2019.
How long will this be visible for on my monthly account statement?
The reference to Barclays in your statement is purely transaction-based, and should fall away from your next monthly statement onwards.
If I suspect my account has been compromised, who should I call?
If you suspect that your account has been compromised, contact our fraud hotline on 5950 If your card is lost, stolen, retained or jammed while using one of our ATMs, call 5950.
What must I do if I receive an email or link asking me to provide my account details/ information?
We are not asking customers for any information, nor do we need you to update your personal account information or details as a result of this change.
Who can I contact for more information?
If you have a specific query or have a question that has not been answered, you can call our toll free customer service team on 5950 (Airtel & MTN. Normal rates apply on ZAMTEL), speak to any of our branch employees, or visit www.absa.co.zm
Need more help?
Call us on:
+260 (211) 366100 (available Monday to Friday from 08:00-16:45)
5950 (Toll free)
Chat to Abby on WhatsApp:
+260 (762) 969 977