MVIL will not accept cash

 THE Motor Vehicles Insurance Limited will no longer accept cash payments from vehicle owners from June, says chief executive officer Joe Wemin.

He said this was MVIL’s business strategy to minimise cost and reduce security risk.

He told The National yesterday after the board and management announced through a paid advertisement MVIL’s decision to stop accepting cash payments.

From June, MVIL will only accept payments through bank cards and bank cheques.

It means the company will no longer accept cash for compulsory third party insurance premium.

The new system also applies to registration and license fees. 

MVIL agreed to manage these services for the provincial governments.

“It is advisable that all vehicle owners be prepared for this change and those who do not have bank cards should open bank accounts for your own convenience before June 2013,” the company said.