A few weeks ago, the Zimbabwe Stock Exchange announced that it would start charging a withdrawal fee on it’s Direct platform. Now C-Trade which operates a similar investment platform that allows traders to trade shares and other securities online has also made a similar announcement. Investors who use the C-Trade platform will now be charged fees when they make withdrawals from the platform and the fees are also similar to those being paid by ZSE Direct investors.
Following the review of tariffs for ZWL transactional accounts by the bank, we wish to advise that all withdrawal transactions effected through the C-Trade platform with effect from 26 March 2021 will be levied the following bank charges;
Internal transfers – 1% of the total amount, minimum being ZWL 100.00 and a maximum of ZWL 300.00 on each withdrawal.
Interbank Transfers – 1% of the total amount, minimum being ZWL 200.00 and a maximum of ZWL 1 000.00 on each withdrawal.
Please note that we are not able to settle withdrawals to your Ecocash account since the discontinuation of the Ecocash bulk payer by the Reserve Bank of Zimbabwe.
For any further information or clarification, kindly contact us on [email protected]
C-Trade Helpdesk| Escrow Group
Toll Free Lines:
It’s just another day in the banking world
There is no conspiracy here, the it’s just that the bank used by C-Trade, CABS, is adjusting it’s fees. Zimbabwean banks primarily make most of their money through transaction fees and bank charges. Banks like NMB and Ecobank are also reviewing or have reviewed their charges recently.