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Tuesday, May 21, 2024

Weekly ATM withdrawal limits reviewed upwards

Story by Owen Mandovha

THE Reserve Bank of Zimbabwe (RBZ) has reviewed upward weekly withdrawal limits and transaction limits, in a move meant to provide convenience to the public.

The transaction limits had remained stagnant for quite some time and caused inconveniences to the public with one having to perform several transactions to fulfil a single payment.

The review will see the person-to-person’s transaction limit increasing from ZWL$150 000 to ZWL$200 000.

The new monthly transaction limit is now capped at ZWL$800 000 effective from this Thursday.

This means an individual may now opt to send up to ZWL$200 000 per transaction, but still being governed by the new maximum limit of ZWL$800 000.

Also coming as good news is the upward review of weekly cash withdrawal limits which now stand at ZWL$15 000 for individuals.

The withdrawal limits for corporates are now pegged at ZWL$100 000 up from ZWL$30 000.

The move by the Central Bank will also keep up the transaction limits to the new inflationary trends.

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