RBZ speaks on bank charges

7 years agoSat, 10 Dec 2016 07:27:36 GMT
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RBZ speaks on bank charges

Reserve Bank of Zimbabwe governor, Dr John Mangudya has said that they are looking at introducing new bank charges after a national outcry from depositors.

Bank charges were last revised in June when Dr Mangudya set the maximum real time gross settlement charge at $5 from $10 while automated teller machine charges did not change at $2,50. Electronic funds transfer presently cost a minimum fee of 33 cents and a maximum of $2,10, while a point of sale transaction of up to $10 attracts a charge of 10 cents, and transactions above $10 are charged 45 cents, a reduction from $2,50.

Mangudya said:

Indeed we are working on reducing the bank charges to ensure that banking services are not punitive and that they promote financial inclusion.

More: Chronicle

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