News:RBZ slashes bank charges

<vote /> The Reserve Bank of Zimbabwe has reduced all charges on electronic transactions with immediate effect.

Reserve Bank governor Dr John Mangudya said

, "The Reserve Bank of Zimbabwe is pleased to advise the banking public that it has agreed with the Bankers Association of Zimbabwe and payment systems providers to reduce chargers of electronic transactions in order to promote and encourage the usage of electronic bank services."

According to the new bank charges, the maximum RTGS charge has been set to $5 from $10 while ATM charges remained at $2,50. A point of sale transaction of up to $10 is now attracting a charge of 10 cents and transactions above $10 will be charged at 45 cents from $2,50.

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