The bank, in collaboration with Dar Es Salaam Community Bank and other banks have established a system of Telegraphic Money Transfer between Mafinga, Dar Es Salaam and other places by T.T and TISS. The aim of providing this service is to avoid handling of cash by clients who are doing transactions between the two areas and increase income through commissions . Most businessmen of Mafinga are purchasing their goods in Dar Es Salaam and they travel with hard cash which is always risky. This facility reduces such risks among other advantages.
The bank offers money transfer services through M-Pesa and Tigo-Pesa within the country and Westen Union, worldwide.
MuCoBa Bank PLC enables a customer to make money withdrawals using an ATM card, make deposits and account balance enquiries by means of handsets, through a network of UmojaSwitch ATMs.
The bank provides insurance services by being an agent of an insurance company. The aim is to increase income through commission and increase security of collaterals that are used by our clients against loans. However, currently there more than four insurance companies in Mafinga which compete with us in offering this service.
The bank offers insurance services in the following areas:
Motor insurance, burglary, accidents, fire insurance, money transfers etc.
Investment in MUCOBA BANK PLC Shares
The bank has been registered in the Dar es Salaam Stock Exchange (DSE) with a view to raising its capital through selling its shares to the general public