Standard Chartered has just sent out a communication to its customers informing them that their service fees will go up on the 15th of March 2020. This will see customers having to pay a monthly maintenance fee of $70 up from $65/month.

Here are the detailed changes:

Current ChargeNew Charge
Maintenance FeeZWL65 flat monthlyZWL70 flat monthly
Service FeeZWL1.99 per transactionZWL2.50 per transaction
VISA Gold Card  (Annual fee)Recovered monthly at ZWL0.83 per monthRecovered monthly at ZWL6.25 per month
Inter Account TransferZWL1 per transactionZWL20 per transaction
Mini/Interim-statementZWL0.50 per requestZWL9.00 per request
Mortgage Fee: Application FeeZWL100ZWL1,800
ATM Withdrawal (VISA)ZWL2 plus 1.75% max ZWL37ZWL40 plus 1.75% max ZWL650
Outward TT (Telegraphic Transfer)2.5% min ZWL30 max ZWL160 at interbank2.5% min ZWL550 max ZWL3,000
Inward TTZWL2 per entryZWL50 per entry
Reference Letter to foreign banksZWL10ZWL180
Local POS Balance Enquiry (Zimswitch)ZWL0.80ZWL1.44

Mobile banking charges are also set to go up

Transaction DescriptionCurrent ChargeNew Charge
Balance Enquiry0.81.5
Mini Statement11.8
Statement Request11.8
ZIPIT Send2055
ZIPIT Recall at customer's Instigation2050