A lot of Zimbabweans (diaspora) and foreigners are going to be visiting Zimbabwe this Christmas. If it has been a while since you visited Zimbabwe, here is an understatement for you to process, things are very different now than there were a year ago. We still do have chronic cash shortages but ever since the government accepted that people wanted to use USD along with the local currency the situation has somewhat improved. Now we have functioning ATMs.
Now if you are coming from abroad you will probably be carrying a Visa or MasterCard in addition to cash. If you are wondering how you can withdraw money in Zimbabwe using these cards we have you covered.
How can I withdraw money using my foreign card
Well there are several methods to accomplish this.
Method 1: Find an Ecobank ATM or walk into one of their branches
Unlike most banks which will require you to have an account with them so you can make a withdrawal, Ecobank ATMs accept foreign cards. You just have to find one of their many ATMs, pop in your card and enter your PIN. Yes, it’s that simple. If you are using a local card or an Ecobank card then you will be charged 2.5% or US$3.50 whichever is higher. With foreign cards the charges are based on what your bank charges. The withdrawal limit is also determined by the bank which issued your card. Usually you can withdraw up to US$2 000.
Method 2: Use a Money Transfer Agent
You need to sign up with a Money Tansfer Agent like WorldRemit or Mukuru preferably before you leave your foreign country. You can then just send money to yourself and pay for the order using your Visa or MasterCard. The money can then be collected as cash instantly from on of the local agents employed by the MTA you used. This is a foolproof way that is likely to work in most towns. This tends to be a bit more expensive than the Ecobank option though. Mukuru the most preferred transfer agent charges a whooping 7%. You are however guaranteed cash at one of their many booths.
Method 3: Open local account
You can also open an account with a local bank. We would recommend using something like FBC’s MasterCard account. You can then do a wiretransfer from you account into the MasterCard, wait 3 days for the money to reflect, and then go to one of their branches to cash out. This is a very inefficient way of doing things but it’s useful if all the other methods do not work for you.
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