Standard Chartered Increases Bank Charges

The Standard Chartered Bank in Zimbabwe has increased the fees it charges customers to transact. The bank cites an increase in operating costs.

Here are the new fees:

Transaction Type	Current Fees	New Fees	Percentage Increase
Account Maintenance	$15	$25	66%
Zimswitch POS	$0.10 for txns below $10 $0.45 for txns above $10	$0.19 for txns below $10 $0.85 for txns above $10	90%
EcoCash Bank to Wallet	$1 for txns below $100 $2 for txns above $100	$1.50 for txns below $100 $3.00 for txns above $100	50%
RTGS (transfer)	$4.95	$10.00	102%
Service Fee	$0.60 per txn	$0.99 per txn	65%
Outward Telegraphic Transfer	1.55% (Min $30 and Max $160)	2.50% (Min $30 and Max $350)	61%
Cash Withdrawal (RTGS and Nostro)	1.25% of Amount	2.25% of Amount	80%
ATM (RTGS and Nostro)	1% of Amount	2% of Amount	100%
Deposit of Soiled USD Notes	Free	10% of Amount Deposited	RIDICULOUS

Of note is that the bank is now charging a 10% of the amount if one deposits soiled notes.

More: Zimlive, Techzim

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