Mobile banking transaction limits reviewed

Precious Nyakudya |  11 months ago | top

Reserve Bank of Zimbabwe Governor, Dr John Mangudya says the Bank has increased limit on mobile banking transactions as it strengthens efforts to support and promote use of the local currency.

Publishing the additional measures through a Monetary Policy Statement today, Dr Mangudya said the revised transaction limits are as follows,

a. Person to business from ZW$20 000 to ZW$25 000 per transaction with a maximum limit of ZW$100 000 per week.

b. Person to person from ZW$5 000 to ZW$10 000 per transaction with a limit of ZW$70 000 per week.

c.Cash withdrawal limit for the banking public increased from ZW$2000 to ZW$5000 per week.