Zimbabwe’s economy is definitely an interesting one with the multi-currency system, shortage of foreign currency and the trending away from Bond notes. With the multi-tiered pricing and recent shortages, one thing that has stood out is that cash is king and more in particular, US dollars.
It is no secret that a large percentage of the US dollar notes in circulation have seen better days. One does begin to wonder how some of the notes are accepted for payment? With the USD being a global currency, it is one that is accepted for trade worldwide. But, this is not quite the case with our dirty ‘Zimbabwean’ US dollar notes.
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TechZim recently wrote an article about their experience of not being able to change some of their ‘Zimbabwean’ USD at various Bureau De Change outlets in South Africa. Other travellers have had similar stories to tell where they were not able to change their dirty money in other parts of the world be it at a bank or currency exchange outlet.
People travelling out of the country need foreign currency to pay for food, accommodation, shopping sprees or whatever it is they have travelled for. For many, the only cash that they have at hand or access to is the dirty US dollars that have done their rounds. Not being able to change their currency or have it accepted as payment leaves them in a situation where their money is worthless outside of Zimbabwe.
Once you reach this point, it may seem as if all is lost as far as the seemingly worthless money goes. But, this isn’t quite the case as there is a solution that will revive the value of your notes for use outside the country.
Steward Bank Globetrotter Visa Card
A friend recently told us about how he manages to make use of his dirty money when travelling out of the country. His simple solution was the Steward Bank Globetrotter Visa Card.
This pre-paid VISA card which is available to Steward Bank and non-Steward Bank customers is one that the cardholder funds in foreign currency. Applying for the card is simple and straightforward with all that’s needed being, a completed application form, copy of ID, proof of residence and a US$10 card issuance fee. To fund the card, deposits can be made into the card at a Steward Bank branch, Steward Bank agent or Econet Shop.
Our friend produced a few US dollar banknotes (the ones pictured above), some of which we thought would not be accepted by the bank due to them being extremely tattered. But, to our surprises, they were accepted for deposit, no questions asked!
With the money loaded onto the card, it was now in a form where it could be used anywhere in the world or online where Visa is accepted.
Do you have any other ways of converting dirty US dollars into a useable form?
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