FBC recently announced that they had reviewed their daily swipe limit from the previous 150 000ZWL per day to 300 000 ZWL per day for individuals. Corporates now have a daily limit of 500 000 ZWL from 50 000 ZWL per day. FBC also reviewed the limit from 25 000 ZWL to 50 000 ZWL per day for those who use their instant accounts such as Mobile Moola.

A screenshot of FBC’s new limits

Different banks, different limits

Despite inflation taking a toll on people’s incomes, you have to admit these limits are pretty generous and ought to suffice for most people. 300 000 ZWL is worth around US$2 000 on the black market with the rate hovering around 150 ZWL per 1 USD. That’s pretty much on par with international banking limits.

The thing though is that unlike mobile money where the limits are uniform it seems banks have some sort of leeway when it comes to these limits. Banks like NMB have limits of around 800 000 ZWL per day, while BancABC’s limit is 500 000 zWL per day. First Capital has a limit similar to that of FBC.