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 ISSUANCE | ACCESS CARD ZWL300 | TAP CARD ZWL100 | VISA CLASSIC EQUIVALENT TO USD10 | VISA GOLD EQUIVALENT TO USD12 |
| VISA PLATINUM EQUIVALENT TO USD15 | POS PURCHASES (LESS THAN ZWL100) ZWL5; (ABOVE ZWL100) 1%; Min ZWL10; Max ZWL300 | CARD REPLACEMENT ZWL500 | ECOCASH BANK TO WALLET TRANSFERS 2.5%; MIN ZWL20, MAX ZWL200 | |
| PREFUNDED CARDS ISSUANCE | VISA CLASSIC PREFUNDED USD10 | VISA GOLD PREFUNDED USD12 | VISA PLATINUM PREFUNDED USD15 | |
| VISA PURCHASES | POS AND ONLINE 2%; PLUS USD2.50 | DECLINED TRANSACTION USD1 | ||
| VISA WITHDRAWALS | BRANCH CASH WITHDRAWAL 2%; PLUS USD3.50 | ATM WITHDRAWAL 2%; PLUS USD3.50 |
NMB Banks Charges/Fees
NMB offers Personal and Business Accounts.
Personal Accounts conditions
| PERSONAL ACCOUNTS | ||||||
|---|---|---|---|---|---|---|
| PRODUCT | NOSTRO FCA | CURRENT ACCOUNT – PREMIUM | CURRENT ACCOUNT – BASIC | NMBLITE ACCOUNT | SAVINGS ACCOUNT | FIXED/TERM DEPOSIT |
| MINIMUM ACCOUNT BALANCE | USD10 | ZWL170 | ZWL120 | ZWL45 | ZWL500 | ZWL10,000 |
| WITHDRAWAL CONDITIONS | On Demand | On Demand | On Demand | On Demand | On Demand | On Maturity |
Business Account conditions
| BUSINESS ACCOUNTS | |||||
|---|---|---|---|---|---|
| PRODUCT | BUSINESS NOSTRO FCA | BUSINESS CURRENT ACCOUNT | SME CURRENT ACCOUNT | INVESTMENT/CALL ACCOUNT | FIXED/TERM DEPOSIT |
| MINIMUM ACCOUNT BALANCE | USD25 | ZWL1500 | ZWL500 | ZWL10,000 | ZWL10,000 |
| WITHDRAWAL CONDITIONS | On Demand | On Demand | On Demand | On Demand | On 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 ACCOUNT | PERSONAL SAVINGS ACCOUNT | BUSINESS NOSTRO FCA | BUSINESS CURRENT ACCOUNT | SME CURRENT ACCOUNT | BUSINESS SAVINGS ACCOUNT | |
| MONTHLY SERVICE FEES | USD5 | ZWL170 | ZWL120 | ZWL45 | ZWL40 (Below Min Balance) | USD15 | ZWL1500 | ZWL500 | ZWL500 (Below Min Balance) |
| CASH WITHDRAWAL FEE | 2%; Min USD5 | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | 2%; Min USD5 | 3%; Min ZWL50 | 3%; Min ZWL50 | 3%; Min ZWL50 |
| ATM CASH WITHDRAWAL | N/A | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | 3%; Min ZWL35 | N/A | N/A | N/A | N/A |
| INTER ACCOUNT TRANSFERS | USD3 | 1%; Min ZWL75 Max ZWL1000 | 1%; Min ZWL75 Max ZWL1000 | 1%; Min ZWL75 Max ZWL1000 | 1%; Min ZWL75 Max ZWL1000 | USD3 | 1%; 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 CHARGE | 1%; Min ZWL1000 (KaGwenya) and Min ZWL1300 (Standard POS) |
| EVENTS POS HIRE | 1%; Min ZWL1500 per hire |
| SEASONAL POS HIRE | 1%; Min ZWL1500 per month |
What are the ZIPIT charges for NMB?
| OTHER CHARGES | |||||
|---|---|---|---|---|---|
| RTGS | INTERNET BANKING | Individual: 2%; Min ZWL50; Max ZWL500 | ACCOUNT STATEMENT / BALANCE ENQUIRY | MOBILE BANKING: ZWL15 | INTERNET BANKING: ZWL15 |
| Corporate: 2%; Min ZWL250; Max ZWL1000 | BILL PAYMENTS | 1.5%; Min ZWL15 Max ZWL1500 | INTERNET BANKING 1.5%; Min ZWL15 Max ZWL1500 | ||
| ZIPIT TO OTHER BANKS | MOBILE BANKING | 2%; Min ZWL50 Max ZWL300 | POS INSUFFICIENT FUNDS ZWL10 | ZIMSWITCH INSUFFICIENT FUNDS ZWL10 PLUS ZIMSWITCH FEE |
