NMB has the following types of accounts on offer at the moment:

  • NMB Lite Account
  • Normal or Standard ZWL Bank Account
  • Nostro Account

NMB Prepaid Visa

Technically NMB doesn’t have a prepaid Visa or MasterCard. What they have is a pre-funded card. You need to open a Nostro account with them. Your Visa card will be linked to this Nostro account. You can, however, deposit USD/Forex into this account and it will be available to use. You can also receive funds via Wire Transfer and they can be used with the card. This makes the card similar to any of the prepaid cards from other banks.

How to apply for the NMB Visa Card?

As already hinted above you need to open an FCA account (now called Nostro account) with NMB. If you already have a Nostro account with them you can apply for the card by filling a form you can download from here.

What do I need to open a Nostro Account with NMB?

If you don’t have a Nostro account you need the following documents:

  • Copy of ID/ Passport
  • 2 passport-sized photos
  • Proof of residence e.g. water utility bill, ZOL invoice etc
  • Proof of income e.g. payslip or affidavit

What are the limits for the NMB Visa Card?

  • Cash withdrawals are limited to US$D1 000.00 daily
  • POS/ Online payments are limited to USD5 000.00 daily

NMB Visa Prefunded Charges?

DEBIT, PREFUNDED AND CREDIT CARDS
CARD ISSUANCEACCESS CARD ZWL300TAP CARD ZWL100VISA CLASSIC EQUIVALENT TO USD10VISA GOLD  EQUIVALENT TO USD12
VISA PLATINUM EQUIVALENT TO USD15POS PURCHASES (LESS THAN ZWL100) ZWL5; (ABOVE ZWL100) 1%; Min ZWL10; Max ZWL300CARD REPLACEMENT ZWL500ECOCASH BANK TO WALLET TRANSFERS 2.5%; MIN ZWL20, MAX ZWL200
PREFUNDED CARDS ISSUANCEVISA CLASSIC PREFUNDED USD10VISA GOLD PREFUNDED USD12VISA PLATINUM PREFUNDED USD15
VISA PURCHASESPOS AND ONLINE 2%; PLUS USD2.50DECLINED TRANSACTION USD1
VISA WITHDRAWALSBRANCH CASH WITHDRAWAL 2%; PLUS USD3.50ATM WITHDRAWAL 2%; PLUS USD3.50

NMB Banks Charges/Fees

NMB offers Personal and Business Accounts.

Personal Accounts conditions

PERSONAL ACCOUNTS
PRODUCTNOSTRO FCACURRENT ACCOUNT – PREMIUMCURRENT ACCOUNT – BASICNMBLITE ACCOUNTSAVINGS ACCOUNTFIXED/TERM DEPOSIT
MINIMUM ACCOUNT BALANCEUSD10ZWL170ZWL120ZWL45ZWL500ZWL10,000
WITHDRAWAL CONDITIONSOn DemandOn DemandOn DemandOn DemandOn DemandOn Maturity

Business Account conditions

BUSINESS ACCOUNTS
PRODUCTBUSINESS NOSTRO FCABUSINESS CURRENT ACCOUNTSME CURRENT ACCOUNTINVESTMENT/CALL ACCOUNTFIXED/TERM DEPOSIT
MINIMUM ACCOUNT BALANCEUSD25ZWL1500ZWL500ZWL10,000ZWL10,000
WITHDRAWAL CONDITIONSOn DemandOn DemandOn DemandOn DemandOn Maturity

What are the current NMB Banking Fees for personal accounts?

ACCOUNT SERVICE CHARGES
PERSONAL NOSTRO
FCA
PERSONAL CURRENT
ACCOUNT PREMIUM
PERSONAL CURRENT
ACCOUNT BASIC
NMBLITE ACCOUNTPERSONAL SAVINGS
ACCOUNT
BUSINESS NOSTRO
FCA
BUSINESS CURRENT
ACCOUNT
SME CURRENT
ACCOUNT
BUSINESS SAVINGS
ACCOUNT
MONTHLY SERVICE FEESUSD5ZWL170ZWL120ZWL45ZWL40
(Below Min Balance)
USD15ZWL1500ZWL500ZWL500
(Below Min Balance)
CASH WITHDRAWAL FEE2%; Min USD53%; Min ZWL353%; Min ZWL353%; Min ZWL353%; Min ZWL352%; Min USD53%; Min ZWL503%; Min ZWL503%; Min ZWL50
ATM CASH WITHDRAWALN/A3%; Min ZWL353%; Min ZWL353%; Min ZWL353%; Min ZWL35N/AN/AN/AN/A
INTER ACCOUNT TRANSFERSUSD31%; Min ZWL75
Max ZWL1000
1%; Min ZWL75
Max ZWL1000
1%; Min ZWL75
Max ZWL1000
1%; Min ZWL75
Max ZWL1000
USD31%; Min ZWL75
Max ZWL1000
1%; Min ZWL75
Max ZWL1000
1%; Min ZWL75
Max ZWL1000

What are NMB’s Portable Point of Sale (POS) Fees

NMB allows you to hire a point of sale machine which will be linked to your account. This has become popular with a lot of businesses especially due to the current cash shortages and reduction of Ecocash limits:

MERCHANT POS
MONTHLY CHARGE1%; Min ZWL1000 (KaGwenya) and Min ZWL1300 (Standard POS)
EVENTS POS HIRE1%; Min ZWL1500 per hire
SEASONAL POS HIRE1%; Min ZWL1500 per month

What are the ZIPIT charges for NMB?

OTHER CHARGES
RTGSINTERNET BANKING  Individual:  2%; Min ZWL50; Max ZWL500ACCOUNT STATEMENT / BALANCE ENQUIRYMOBILE BANKING: ZWL15INTERNET BANKING: ZWL15
Corporate:  2%; Min ZWL250; Max ZWL1000BILL PAYMENTS1.5%; Min ZWL15 Max ZWL1500INTERNET BANKING 1.5%; Min ZWL15
Max ZWL1500
ZIPIT TO OTHER BANKSMOBILE BANKING2%; Min ZWL50 Max ZWL300POS INSUFFICIENT FUNDS ZWL10ZIMSWITCH INSUFFICIENT FUNDS ZWL10 PLUS ZIMSWITCH FEE

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