Others such as Steward Bank –  a spin off from mobile firm Econet Wireless and at CABS that is run by Old Mutual also managed to transact.
The new notes have however drawn criticism from analysts and the opposition who believe Zimbabwe should have reverted to the US Dollar until there was sufficient productive capacity.
Oxlink Capital chief executive officer and economist Brains Muchemwa said President Emmerson Mnangagwa’s administration initially targeted a10 percent year on year inflation by the end of this year while the government foreign exchange rate “has been 1:6 while the rate is now around 1:20” on the streets.
A woman poses with Zimbabwe’s new two dollar banknotes as customers queue outside a bank in Harare
“Government original 2019 target expenditure was $7.7bn. Now revised to $18.6bn,” he added.
However, for economic analyst Admire Mandangu, “there is nothing to panic about” regarding the introduction of the new notes.
“The newly injected new notes work at par with the bond notes. There is no money being phased out neither do we have EcoCash (mobile money) or bank transfers being outlawed.” But the rush for withdrawals stalled when branches such as CBZ Kwame Nkrumah branch ran out of the notes.
“For today they have stopped but earlier on they were giving ZWL100. Maybe tomorrow they will resume,” said a security guard manning the branch’s ATMs.
Some cash machines were also frequently breaking down while most shops in the CBD said shoppers were yet to purchase goods using the new notes. Others however said this was not surprising as people tend to use mobile money and Point of Sale machines when purchasing from formal shops.
A man poses with Zimbabwe’s new two dollar coin as customers queue outside a bank in Harare
State media quoted central bank chief, John Mangudya saying : “We also need to ensure that shops that receive cash bank it in line with the Bank Use Promotion Act. Big outlets will be monitored.”