Here’s how much your bank charges for all ZWL$ account transactions & services

Valentine Muhamba Avatar
Cashless Zimbabwe RTGS cutoff time, local currency bank charges ZWL$ prepaid USD cards fees charges

Following up on the article we posted on local currency swipe limits, we thought it would be interesting to compare all the major banks’ local (ZWL$) currency charges.

The following is for the basic or entry-level personal accounts only. Charges are also for local currency accounts and where transactions are concerned the IMTT or 2% tax is assumed.

Bank account maintenance charges

The service fee that you are charged per month on your account.

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not listed
$150

$150$150$200$50$200$120$200$20$450$150$150

Over the counter cash withdrawal fees

Bank fees for withdrawing local currency over the counter at the bank branch.

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
3% min $50.003% min $50.003% Min $45.00 Max $150.003% min $50.005% min $502,5% of cash amount, minimum $60, maximum $1 0003% min $50.003%; Min $353% min $75.002.25% of amount being withdrawn min $153% min $60.003%; Min $303% min $50.00

ATM cash withdrawal (same bank) fees

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
3% min $50.002.5% min $203% Min $60.00 No Max3% min $50.003% min $30.002,5% of cash amount, minimum $60, maximum $1 0002% min $40.003%; Min $353% min $50.002% of amount being withdrawn3% min $60.003%; Min $303% min. ZWL$30

ATM cash withdrawal (other banks) fees

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
3% min $50.002.5% min $203% Min $60.00 No Max2.5%3% min $30.002,5% of cash amount, minimum $60, maximum $1 0002% min $40.003%; Min $353% min $50.002% of amount being withdrawn3% min $60.003%; Min $303% min. ZWL$30

POS or swipe fees

Point-of-Sale or swipe charges are differentiated from ones where you use that bank’s card on its POS machines and swiping your bank’s card on another bank’s POS machine.

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not listedCABS POS: 1% min $60(CBZ to CBZ) transaction
1% Min $25

Merchant POS (ZIMSWITCH) 1.5% Min $45
1% of the transacted amount0.5% of the transacted amount2,5% of cash amount, minimum $60, maximum $1 000Other POS:
1% minimum ZWL 85.00
maximum ZWL 400.00

Nedbank POS:
Below $100 – $20

Above $100 – $50
(Less than $100) ZWL5; (Above $100) 1%; Min $10; Max $300POSB POS:
1.5% min $40


Other POS:
1.5% min $45
Zimswitch POS Purchase: below $100 – $5

above $100 – 1% min $30.00 Max $1500.00

Stanbic POS – 0.5% Min $1.00
1% min $50Steward POS: 1.5% Min $25.00, Max $500.00 for transactions above $100.00

Other POS:
1.5% Min $40.00, Max $500.00 for transactions above $100.00
1% of transacted amount

RTGS Transfers fees

There appears to be a different fee (with some banks) for Real-Time Gross Settlement (RTGS) transfers depending on whether you did the operation in the bank or on mobile/internet banking platforms.

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
2.5% of transacted amount1% min $400 max $20002% Min $200 Max $1,000.00In Bank: 2% of transacted amount

Internet Banking: 2% of transacted amount
In Bank: 1% min $400 max $2000

Internet Banking:
1% min $280 max $1500
1%, minimum $100, maximum $2000In Branch: 1%; Min ZWL200
Max ZWL2000

Internet banking: $80
In Bank:
1%; Min ZWL200
Max ZWL2000

Internet 1.5%; Min ZWL150
Max ZWL10001%; Min $200
Max $2000
1% min $370 max $10001% Min $250.00 Max $2500.001% max $50002% Minimum $200.00, Maximum $2000.001% of transacted amount

Internal transfers charges

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not listed1% of transacted amount2% Min $100.00 Max
$1,000.00
Manual: 2% of transacted amount

Internet Banking: 2% of transacted amount
In Bank: 1% min $200 max $1500

Internet Banking:
1% min $100 max $1000
1%, minimum $100, maximum $1 000$1501%; Min $75
Max $1000
0.5% min $60 max $10000.5% Min $50.00 Max $500.00$100.001% Min $100.00, Max $1000.001% of transacted amount

Bank to EcoCash charges (Bank to Wallet)

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not listed2% of transacted amountNot listedNot listed3% min $502.5%, minimum $401% min ZWL$302.5%, min $202.5%, min $602% Min $10.001% min $50 max $200Not listed2% minimum ZWL$50

Bill Payment fees

Charges for paying ZESA, internet, school fees using your local currency bank account (the assumption is that this is mainly for mobile and or internet banking platforms)

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not listed1% min $60 max $600Not listed3% of transacted amount0.5% of transacted amountNot listed1% min $85Not listed1% min $60$50.00 per transaction1% min $100 max $200.00$10.30$30.00

Balance enquiry fees

Local currency account bank charges for checking your balance, the bank charges here would be for each enquiry you make.

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not Listed$15.00$50.00Not Listed$20.00Not Listed$7.00Not listed$20.00$5$25.00Not ListedNot Listed

Bank statement charges

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not Listed$15.00 (mini-statement)$50.00 per page$50.00 per page$20.00 (mini-statement)$20 per page$8.00 (mini-statement)Not Listed$20.00 (mini-statement)$5.00 (mini-statement)$50 (mini-statement)

$40 per page (full statement)
$11.00 (mini-statement)Not Listed

Airtime purchase fees

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not listedZWL$3.00Not ListedNot ListedNot ListedNot Listed$5.00Not Listed$7.001% of amountNot Listed$11.00Not Listed

Insufficient funds charge

BancABCCABSCBZFBCFirst Capital BankNBSNedbankNMBPOSBStanbic BankStandard CharteredSteward BankZB Bank
Not ListedZWL$6.00Not ListedNot Listed$20.00Not Listed$10.00$10.00$25.00$5.00Not ListedNot ListedNot Listed

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23 comments

What’s your take?

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  1. Big Boss

    Wow, thanks guys. I have been requesting for this and you finally answered. Keep it up. Standard Chartered should fear God! That bank maintenance charge compared to competitors is ridiculous.

  2. Jeffrey Scher

    Fantastic information — thank you thank you. Any way of printing this out so that all figures show?

  3. Charges

    Thanks !

  4. THE KING

    Stanbic kuchipa kurikwegs here kana kuti kuvandira

  5. Bles

    But stanbic charges 100rtgs per transaction on everything I have noticed

    1. Anonymous

      Very true …i bought $100 airtime and they charged me $100 for that

  6. Anonymous

    You left Agribank

  7. Sidney

    You left Agribank

  8. Imi vanhu musadaro

    Stanbic OTC withdrawal is 3%, whilst ATM is 2.5%. On their website, they habitually do not update their tariff schedules, only updating the new tariffs notice. I think they do it intentionally. 🤷🏾‍♂️

  9. Anon

    Banking is expensive now in Zimbabwe compared to 21 years ago

    1. Big Boss

      Bank charges seem to be primary sources of income now.

  10. Dudu

    Kakara kunu a kudya kamwe. Tapera vanhu we. Vakuru vakataura.

  11. Stolen From Bank Client

    Then expect the country to progress from 4th world to first world? With these leaches firmly stuck into our flesh?

    Banks should profit from interest income. That’s how economies grow, when you lend to inspire production, not this free meal mentality of ZPF and their co-hots all competing to fleece citizens.

    1. Lewis

      Blockchain is our future banks,cryptocurrency is our future money.

  12. kazishe

    Ko nezipit? Is the same ne RTGS?

  13. Tshaka

    Fantastic information….
    .thank you

  14. Teddy

    Thank you

  15. Anonymous

    Now we need an article on service delivery. This one am sure will unearth a lot of rot, especially NMB Bulawayo Branch I surrend. They have only one branch in BYO and yet only 2 tellers will be working . Lord help us

  16. Bowen

    Its criminal in such a depressed society. I suspect “greed” without any form of regret. Reprehensible.

  17. Anonymous

    Thank you

  18. Anonymous

    Thank you so much,been in search of these charges

  19. jk

    usefull info

  20. mai2

    There is need for an updated list please.