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:

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Transaction TypeCurrent FeesNew FeesPercentage Increase
Account Maintenance$15$2566%
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
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
RTGS (transfer)$4.95$10.00102%
Service Fee$0.60 per txn$0.99 per txn65%
Outward Telegraphic Transfer1.55% (Min $30 and Max $160)2.50% (Min $30 and Max $350)61%
Cash Withdrawal (RTGS and Nostro)1.25% of Amount2.25% of Amount80%
ATM (RTGS and Nostro)1% of Amount2% of Amount100%
Deposit of Soiled USD NotesFree10% of Amount DepositedRIDICULOUS

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

More: ZimliveTechzim

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Zimbabwe RTGS Dollars are a Zimbabwean currency introduced on 20 February 2019 by the Reserve Bank of Zimbabwe. At introduction, the currency consisted of existing RTGS balances in bank accounts, Bond Notes cash and Bond Coins. The introduction of the RTGS Dollars was announced by... Read More About RTGS Dollars

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