Recently there have been reports that civil servants were having a hard time when it comes to liquidating their Nostro USD into ZWL. This is because most shops don’t accept Nostro USD and if civil servants want to use the money they actually have to convert it into ZWL. This means waiting in lines but thankfully several banks including FBC, Steward and Stanbic have created ways that allow account holders to convert their allowances from the comfort of their homes.

How to convert my allowance using Stanbic Mobile Banking?

Here we will look at how Stanbic account holders can use mobile banking to convert their funds.

  • Dial *247# to access the mobile banking menu
  • Select the Funds Transfer Option
  • Select Option 2- Source Account
  • Select Option 1 – Internal Funds Transfer
  • Select Option 1- Self Funds Transfer
  • Select “ZWL Account”
  • Enter the amount that you want to liquidate
  • Enter 1 to confirm the transaction
  • An SMS will be send to your phone once the funds have been liquidated