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.