Chief Executive Officer of Bankers Association of Zambia, Leonard Mwanza, said in an interview that more bank users needed to register their T-Pins.
“We have seen progress but that progress is not good enough. As at the end of the 2018, the
compliance levels across the banking sector was at 43%. So we are making progress but the progress is not good enough so we would like to thank the Zambia Revenue Authority for extending T-pin registration and submission deadline,” Mwanza said.
“If you look at the total numbers of customers across the commercial banking sector as well as the other non bank financial institutions who offer banking services, we are talking of a number somewhere close plus or minus two million. So currently, the compliance rate in terms of those that have submitted is at 43%.”
He said the deadline extension should be seen as an opportunity by clients from banking and non banking sectors to take part in the T-pin registration process.
“We urge our customers, those with bank accounts to take advantage of the good gesture from the
Zambian Revenue Authority to extend the deadline and to ensure that first of all, they register and then once they register, they should submit the T-pin to their respective bank,” Mwanza said.
“And for those who may have multiple bank accounts from various banks what they need is they need to make copies of their T-pin registration and make sure that it is submitted to all the commercial banks where the account may be held. That will help us to fast track this issue. Confirming is quite an easy process, because when you go on the ZRA web portal, you are able to access those who are registered for a T-pin. So registration for a T-pin is one thing but submitting to the bank is another thing because it is the responsibility of the customer to ensure that once they register for their T-pin, it is submitted to their respective bank by way of sending an e-copy of the registration or a hard copy of the T-pin registration.”
He said banks had been trained to help their clients register for T-pins online.
“So we are able work with ZRA, track the number that have been registered and I think the last report from ZRA we talking of close to 800,000 people had so far registered for their T-pin which is quite some good progress but it’s not all those who have submitted their T-pin to the banks so registration is one thing. Banks are been trained, they’ve been trained to help customers to understand how to register their T-pin online which is quite a faster process because the ZRA has able automated and enhanced system plus it doesn’t take long for a person to log into to the system and also to apply for a T-pin online,” said Mwanza.