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Business Conditions

As at 25 March 2020

Terms and Conditions

Download the business Conditions here

 

PERSONAL ACCOUNTS
PRODUCT NOSTRO FCA CURRENT ACCOUNT – PREMIUM CURRENT ACCOUNT – BASIC NMBLITE ACCOUNT SAVINGS ACCOUNT DREAM HOUSE SAVINGS ACCOUNT FIXED/TERM DEPOSIT
MINIMUM ACCOUNT BALANCE USD10 ZWL60 ZWL40 ZWL15 ZWL500 ZWL500 ZWL10,000
WITHDRAWAL CONDITIONS On Demand On Demand On Demand On Demand On Demand No withdrawal for the first 12 months On Maturity
PERSONAL LOANS & OVERDRAFTS
TENOR 3-36 MONTHS MINIMUM LENDING RATE p.a plus a margin ARRANGEMENT FEES UP TO 8% INSURANCE 1% p.a
MORTGAGE LOANS
TENOR UP TO 3 YEARS ESTABLISHMENT FEES 3% VALUATION FEES 1% INTEREST RATES UP TO 40% p.a DEPOSIT 25% OF PURCHASE PRICE ANNUAL MAINTENANCE FEE ZWL250
BUSINESS ACCOUNTS
PRODUCT BUSINESS NOSTRO FCA BUSINESS CURRENT ACCOUNT SME CURRENT ACCOUNT INVESTMENT/CALL ACCOUNT FIXED/TERM DEPOSIT
MINIMUM ACCOUNT BALANCE USD25 ZWL500 ZWL200 ZWL10,000 ZWL10,000
WITHDRAWAL CONDITIONS On Demand On Demand On Demand On Demand On Maturity
BUSINESS FINANCE
LOANS/OVERDRAFTS Minimum lending rate p.a. plus a margin Penalty interest rate – Lending Rate plus 8% p.a.
ACCEPTANCE CREDITS/BAS Commission up to 2.5% plus Market Discount Rate Establishment fees up to 5% Guarantee Commissions: 2% quarterly
INTERNATIONAL BANKING CHARGES
IMPORT AND EXPORT DOCUMENTATION
EXPORTER REGISTRATION ZWL20 PRIOR EXCON APPLICATION ZWL50 DOCUMENTARY COLLECTION ZWL100
PRE STAMPED AUTHORITY ZWL20 FORM CD1 ZWL5 CAPITAL ACCOUNT TRANSACTION ZWL150
IMPORTER REGISTRATION ZWL20 BULK FORM CD1 ZWL50 CD3 ADMINISTRATION FEE ZWL5
TELEGRAPHIC TRANSFERS
OUTGOING TELEGRAPHIC TRANSFER 0.5%; Min USD30; Max USD300 EXCON BATCH FEE ZWL10
FOREIGN BANK CHARGE 1%; Min USD50; Max USD150 PAYMENT CANCELLATION/AMENDMENT ZWL50
LETTERS OF CREDIT
ESTABLISHMENT FEE 0.75% flat USD DOCUMENT NEGOTIATION 0.5%
CONFIRMATION FEE 0.5% pro rata USD DOCUMENT COLLECTION ZWL100 flat
ACCOUNT SERVICE CHARGES
PERSONAL NOSTRO
FCA
PERSONAL CURRENT
ACCOUNT PREMIUM
PERSONAL CURRENT
ACCOUNT BASIC
NMBLITE ACCOUNT PERSONAL SAVINGS
ACCOUNT
BUSINESS NOSTRO
FCA
BUSINESS CURRENT
ACCOUNT
SME CURRENT
ACCOUNT
BUSINESS SAVINGS
ACCOUNT
MONTHLY SERVICE FEES USD5 ZWL60 ZWL40 ZWL15 ZWL40
(Below Min Balance)
USD15 ZWL500 ZWL200 ZWL500
(Below Min Balance)
CASH WITHDRAWAL FEE 2%; Min USD5 3%; Min ZWL12 3%; Min ZWL12 3%; Min ZWL12 3%; Min ZWL12 2%; Min USD5 3%; Min ZWL20 3%; Min ZWL20 3%; Min ZWL20
ATM CASH WITHDRAWAL N/A 3%; Min ZWL12 3%; Min ZWL12 3%; Min ZWL12 3%; Min ZWL12 N/A N/A N/A N/A
INTER ACCOUNT TRANSFERS USD3 1%; Min ZWL20
Max ZWL300
1%; Min ZWL20
Max ZWL300
1%; Min ZWL20
Max ZWL300
1%; Min ZWL20
Max ZWL300
USD3 1%; Min ZWL20
Max ZWL300
1%; Min ZWL20
Max ZWL300
1%; Min ZWL20
Max ZWL300
RTGS MANUAL 1%; Min USD5
Max USD10
1%; Min ZWL60
Max ZWL500
1%; Min ZWL60
Max ZWL500
1%; Min ZWL60
Max ZWL500
1%; Min ZWL60
Max ZWL500
1%; Min USD5
Max USD10
1%; Min ZWL60
Max ZWL500
1%; Min ZWL60
Max ZWL500
1%; Min ZWL60
Max ZWL500
MERCHANT POS
MONTHLY CHARGE 1%; Min ZWL300 (KaGwenya) and Min ZWL500 (Standard POS)
EVENTS POS HIRE 1%; Min ZWL500 per hire
SEASONAL POS HIRE 1%; Min ZWL500 per month
OTHER CHARGES
RTGS N/A INTERNET BANKING: 1%; Min ZWL50; Max ZWL400 ACCOUNT STATEMENT / MINI STATEMENT MOBILE BANKING: ZWL2.15 INTERNET BANKING: ZWL2.15
ZIPIT TO OTHER BANKS MOBIE BANKING: 1%; Min ZWL50; Max ZWL200 N/A BILL PAYMENTS MOBILE BANKING: 1%; Min ZWL15; Max ZWL50 INTERNET BANKING: 1%; Min ZWL15; Max ZWL50
DEBIT, PREFUNDED AND CREDIT CARDS
CARD ISSUANCE ACCESS CARD ZWL100 TAP CARD ZWL80 VISA CLASSIC EQUIVALENT TO USD10 VISA GOLD  EQUIVALENT TO USD12
VISA PLATINUM EQUIVALENT TO USD15 POS PURCHASES (LESS THAN ZWL20) ZWL1.00; (ABOVE ZWL20) 1%; Min ZWL10; Max ZWL50 CARD REPLACEMENT ZWL100 ECOCASH BANK TO WALLET TRANSFERS 2%; Min ZWL20; Max ZWL200
PREFUNDED CARDS ISSUANCE VISA CLASSIC PREFUNDED USD10 VISA GOLD PREFUNDED USD12 VISA PLATINUM PREFUNDED USD15
VISA PURCHASES POS AND ONLINE 2%; PLUS USD2.50 DECLINED TRANSACTION USD1
VISA WITHDRAWALS BRANCH CASH WITHDRAWAL 2%; PLUS USD3.50 ATM WITHDRAWAL 2%; PLUS USD3.50