Thanks to 2008 and 2018, Zimbabweans have a pretty bad view about banks and most people would rather put money into their matresses and risk getting robbed rather than depositing it into a bank and risk never being able to withdraw it. Given the recent spike in robberries it might be a good idea though to deposit a bit of your money especially if we also consider the fact that more and more banks are now allowing people to easily withdraw USD from their Nostro FCA accounts. POSB is now the latest bank to announce this:
Even though the ad is targeted at farmers the wording shows it clearly applies to other Nostro-account holders as well. Again, thanks to the government’s convoluted rules, civil servants still cannot withdraw their government paid USD salaries. Also like all things in Zimbabwe, just know that if you do make a deposit there is always a risk that the government will snap it’s fingers and the rules will change before you know it and your money will be stuck.
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