Here are the charges for Zanaco and Xapit account charges and fees for 2021
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
ZANACO MONTHLY MAINTENANCE FEES
Xapit Account Nil N/A
Seba Account K35 N/A
Savings Account K40 K80
Zanaco Savers Account K50 K95
Current Account (ZMW) K50 K110
Digital Micro Business Account N/A K50
Foreign Currency Accounts (USD) US$12 US$15
Foreign Currency Accounts (GBP) GBP7.50 GBP6
Foreign Currency Accounts (EUR) EUR10 EUR8
Foreign Currency Accounts (ZAR) ZAR132 ZAR110
MONTHLY MANAGEMENT FEES
Xapit Account K5 N/A
Penalty on Balance above K10,000 K50 per occurrence N/A
ZANACO MINIMUM BALANCE
Xapit Account Nil, starter pack fee K40 N/A
Seba Account K50 N/A
Savings Account K200 K500
Zanaco Savers Account K750 K1,200
Digital Micro Business Account N/A Nil
Current Account (ZMW) Nil Nil
FX Current Account (USD) NIL Nil
FX Current Account (GBP) NIL Nil
FX Current Account (EUR) NIL Nil
FX Current Account (ZAR) NIL Nil
FX Current Account Professional Product (USD) USD 150 N/A
FX Current Account Professional Product (GBP) GBP 100 N/A
Term Deposits Account K10,000 K10,000
Account below minimum balance
(Flat fee per month)
Xapit, SEBA Account K15 N/A
Savings, Zanaco Savers, Current and Foreign K35 or equivalent K50 or equivalent
Currency Accounts
ZANACO WITHDRAWALS FEES
ATM withdrawal
ATM withdrawal at Zanaco ATM K9 K9
(per succesful withdrawal)
ATM withdrawal other banks K15 K15
ATM withdrawal international K20 + 1.5%, max K 50 K15 + 1.5%, max K 50
Point of Sale (POS) cash withdrawal
POS cash withdrawal at Zanaco Xpress Agent
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
K0 – K100 K6.50 K6.50
K101 – K250 K6.50 K6.50
K251 – K2,000 K6.50 K6.50
K2,000.01 – K4,000 K6.50 K6.50
K4,000.01 to K5,000 K6.50 K6.50
Over the Counter (OTC) withdrawal
at any Zanaco Branch
OTC cash/cheque withdrawal at Zanaco Branch K100 Savingss & Zanaco Savers – 4 free
K50 per extra withdrawal
Excessive encashment of K25,000 and above K250 plus 0.2% for amount K250 plus 0.2% for amount
or equivalent. (For amounts above K100,000 above K25,000 above K25,000
customer is to give 48 hours notice)
ZANACO DEPOSIT fees
Point of Sale (POS) cash deposit
POS cash deposit at Zanaco Xpress Agent
Over the Counter (OTC) cash deposit
at any Zanaco branch
OTC cash deposit into other accounts Free Free
OTC Bulk cash deposits of coins Free For 5n, 10n, 50n, K1 coins on deposits
of less than K1,000 free.
Above K1,000: 1% min K100
OTC Bulk cash deposits in excess of K 100,000 Free Free
OTC Bill Muster cash deposit Free Free
Cheque Deposits
OTC Cheque deposits for Zanaco cheques K10 K3
(Charged to the drawer’s account)
Deposit Books
Deposit book numbered K50 K50
unpersonalised – 50 duplicate leaves
Customised Deposit Book K100 Full Cost
FUNDS TRANSFERS
Over the Counter (OTC) Funds Transfer
OTC funds transfer within Zanaco K15 K5
OTC funds transfer to other banks K50 K50
(upto K 100,000-DDACC)
Using card Using Account Using card Using Account
Number Number
K0 – K100 Free Free Free Free
K101 – K250 Free Free Free Free
K251 – K500 Free Free Free Free
K501 – K2,000 Free Free Free Free
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
K0 – K100 K6.50 K6.50
K101 – K250 K6.50 K6.50
K251 – K2,000 K6.50 K6.50
K2,000.01 – K4,000 K6.50 K6.50
K4,000.01 to K5,000 K6.50 K6.50
Over the Counter (OTC) withdrawal
at any Zanaco Branch
OTC cash/cheque withdrawal at Zanaco Branch K100 Savingss & Zanaco Savers – 4 free
K50 per extra withdrawal
Excessive encashment of K25,000 and above K250 plus 0.2% for amount K250 plus 0.2% for amount
or equivalent. (For amounts above K100,000 above K25,000 above K25,000
customer is to give 48 hours notice)
DEPOSITS
Point of Sale (POS) cash deposit
POS cash deposit at Zanaco Xpress Agent
Over the Counter (OTC) cash deposit
at any Zanaco branch
OTC cash deposit into other accounts Free Free
OTC Bulk cash deposits of coins Free For 5n, 10n, 50n, K1 coins on deposits
of less than K1,000 free.
Above K1,000: 1% min K100
OTC Bulk cash deposits in excess of K 100,000 Free Free
OTC Bill Muster cash deposit Free Free
Cheque Deposits
OTC Cheque deposits for Zanaco cheques K10 K3
(Charged to the drawer’s account)
Deposit Books
Deposit book numbered K50 K50
unpersonalised – 50 duplicate leaves
Customised Deposit Book K100 Full Cost
FUNDS TRANSFERS
Over the Counter (OTC) Funds Transfer
OTC funds transfer within Zanaco K15 K5
OTC funds transfer to other banks K50 K50
(upto K 100,000-DDACC)
Using card Using Account Using card Using Account
Number Number
K0 – K100 Free Free Free Free
K101 – K250 Free Free Free Free
K251 – K500 Free Free Free Free
K501 – K2,000 Free Free Free Free
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
OTC funds transfer to other banks K50 K50
(above K 100,000-RTGS)
Mobile Banking (XAPIT) Transfers
Transfers within Zanaco K0.00 to K2000.00 K 7.00 K 7.00
Transfers within Zanaco above K2000.00 K 10.00 K 10.00
Funds transfer to other banks (DDACC) K 20.00 K 20.00
Funds transfer to other banks (RTGS) K 50.00 K 50.00
ZANACO PAYMENTS
Mobile Banking Bills Payment K6.50 K6.50
Standing Order
Standing Order setup Free Free
Individual transactions K10 plus VAT K15 plus VAT
(Internal payments within Zanaco)
Individual transactions to other banks DDACC K50 plus VAT, DDACC K50 plus VAT,
RTGS K50 plus VAT RTGS K50 plus VAT
Individual transactions (international payments) US$10 + TT Charges + US$30 US$10 + TT Charges + US$30
Correspondent charge plus VAT Correspondent charge plus VAT
Premature cancellation of standing order K30 plus VAT K50 plus VAT
ZANACO Cheques fees
Cheque book 25 leaves (ZMW) K50 K50
Cheque book 50 leaves (ZMW) K100 K100
Chequebook 50leaves -Foreign Currency Accounts K100 K100
Cheque book 100 leaves (ZMW) N/A K200
Cheque book 200 leaves
Customised Cheque Book Full Cost Full Cost
Cheque Processing (ZMW) K5 per cheque K3 per cheque
Foreign Currency Cheque Processing (USD) US$1.50 per cheque US$ 1.50 per cheque
Foreign Currency Cheque Processing (GBP) GBP1 per cheque GBP0.90 per cheque
Foreign Currency Cheque Processing (EUR) EUR1 per cheque EUR1.10 per cheque
Foreign Currency Cheque Processing (ZAR) ZAR15 per cheque ZAR 17 per cheque
Stop payment order K250 plus VAT K300 plus VAT
Irregularly drawn cheques Free K50
Bank/Manager’s Cheque Issued K100 per cheque K100 per cheque
Counter Cheque / Cash Voucher K150 K100
Unpaid cheque, DDACC/RTGS and Standing K510 per item K840 per item
ZANACO INTERNET BANKING FEES
Set-up fee Free Free
Monthly fee Free Free
Internet transaction within Zanaco K6 K6
Internet transaction to other bank (DDACC) K20 K20
Internet transaction to other bank (RTGS) K50 K50
Internet bank statement Free Free
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
Retention Bond Not applicable 0.75% per quarter or part
thereof min K500
Warehouse Bond Not applicable 0.75% per quarter or part
thereof min K500
Customs and Excise Bond Not applicable 0.75% per quarter or part
thereof min K500
Sealing bids Not applicable K200
OUTWARD LETTERS OF CREDIT – IMPORTS
Arrangement fee on Usance L/Cs Not applicable 1.5% of the amount
Usance L/Cs Not applicable 0.75% per quarter or part
thereof min K686.40 Sight L/Cs
Sight L/Cs Not applicable 0.5% per quarter or part
thereof min K686.40
Donor Funded L/Cs Not applicable Donor/cash covered 0.3% min K528
Cancellation of import L/C Not applicable K528 or USD equivalent
Closing charge under undrawn L/C Not applicable K528 or USD equivalent
Extension of L/C expiry date validity Not applicable Ext with confirmation 0.5% of
amount min K158.40 max K264
Drawing commission Not applicable K13
Amendment commission Not applicable K264 plus SWIFT charge
or USD equivalent
Amendment for increase in Value Not applicable 1% of the additional amount
min K290.40
Inland courier postage Not applicable Actual courier cost plus 50%
thereof as handling charges
Delivery of Documents Not applicable K100
Other amendments Not applicable K158.40 or USD equivalent
INWARD LETTERS OF CREDIT – EXPORTS
Advising Commission Not applicable K528.40 or USD equivalent
Confirmation Commission Not applicable 0.5% per quarter or part
thereof min K686.40
Negotiation Commission Not applicable 0.75% per quarter or part
thereof min K686.40 or
USD equivalent
Extention of L/C expiry date validity Not applicable As per initial confirmation charge
plus K264 amendment
Other amendments Not applicable K264 or USD equivalent
- SWIFT charge
Courier charge Not applicable K 528.40 or USD equivalent
Closing charge under undrawn L/C Not applicable Outstanding charges plus closing
charge of K264
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
GENERAL BANKING SERVICES
Cheque Image/Copy K70 per image/Copy K60 per image/Copy
Counter voucher Image/Copy K60 per image/Copy K50 per image/Copy
Outward Status Equiry except N/A K120 per customer request plus VAT
on account opening
Auditors Report N/A K250 per Report plus VAT
Certification of customers’ documents K115 per copy plus VAT K115 per copy plus VAT
Certificate of Balance K200 plus VAT K170 plus VAT
Search fee for items 6 months to 1 year K150 per item plus VAT K100 per item plus VAT
Search fee for items over 1 year K200 per item plus VAT K150 per item plus VAT
Commission on Bank references K150 per customer request plus VAT K250 per customer request plus VAT
Confirmation of Bank Accounts to K150 per customer request plus VAT K250 per customer request plus VAT
third parties as per request
Night Safe K100 per wallet per quarter K90 per wallet per quarter
Safe Custody
Small envelopes/Tamper proof bag (A5 size) N/A N/A
Medium envelopes/Tamper proof bag (A4 size) N/A N/A
Large envelopes/Tamper proof bag (A3 size) N/A N/A
ACCOUNT CLOSURE / DORMANT ACCOUNTS
Dormant account reactivation fee Free Free
Closure of account K100 (free for deceased) K200 (free for deceased)
Closure of account Foreign Currency K170 (free for deceased) K225 (free for deceased)
Premature Withdrawal of Time Deposit Interest forfeited Interest forfeited
plus Admin fee of K250 plus Admin fee of K250
SALARY PROCESSING
Manual – at the branch (per transaction) N/A K30per salary entry plus VAT charged
to employer
N/A Free
N/A K7.50 within Zanaco.
K15 external per salary
(charged to employers)
INVESTMENT IN GOVERNMENT SECURITIES
Commission – Treasury bills 1% of discount, min K115 1% of discount, min K115
Commission – GRZ bonds 1% of discount, min K115 1% of discount, min K115
K80 K80
to BOZ for T/B & bonds
PURCHASE OF FOREIGN EXCHANGE
Travellers Cheques N/A N/A
Foreign currency notes Buying rate Buying rate
Telegraphic Transfer (inward) US$4 Free
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
GENERAL BANKING SERVICES
Cheque Image/Copy K70 per image/Copy K60 per image/Copy
Counter voucher Image/Copy K60 per image/Copy K50 per image/Copy
Outward Status Equiry except N/A K120 per customer request plus VAT
on account opening
Auditors Report N/A K250 per Report plus VAT
Certification of customers’ documents K115 per copy plus VAT K115 per copy plus VAT
Certificate of Balance K200 plus VAT K170 plus VAT
Search fee for items 6 months to 1 year K150 per item plus VAT K100 per item plus VAT
Search fee for items over 1 year K200 per item plus VAT K150 per item plus VAT
Commission on Bank references K150 per customer request plus VAT K250 per customer request plus VAT
Confirmation of Bank Accounts to K150 per customer request plus VAT K250 per customer request plus VAT
third parties as per request
Night Safe K100 per wallet per quarter K90 per wallet per quarter
Safe Custody
Small envelopes/Tamper proof bag (A5 size) N/A N/A
Medium envelopes/Tamper proof bag (A4 size) N/A N/A
Large envelopes/Tamper proof bag (A3 size) N/A N/A
ACCOUNT CLOSURE / DORMANT ACCOUNTS
Dormant account reactivation fee Free Free
Closure of account K100 (free for deceased) K200 (free for deceased)
Closure of account Foreign Currency K170 (free for deceased) K225 (free for deceased)
Premature Withdrawal of Time Deposit Interest forfeited Interest forfeited
plus Admin fee of K250 plus Admin fee of K250
SALARY PROCESSING
Manual – at the branch (per transaction) N/A K30per salary entry plus VAT charged
to employer
N/A Free
N/A K7.50 within Zanaco.
K15 external per salary
(charged to employers)
INVESTMENT IN GOVERNMENT SECURITIES
Commission – Treasury bills 1% of discount, min K115 1% of discount, min K115
Commission – GRZ bonds 1% of discount, min K115 1% of discount, min K115
K80 K80
to BOZ for T/B & bonds
PURCHASE OF FOREIGN EXCHANGE
Travellers Cheques N/A N/A
Foreign currency notes Buying rate Buying rate
Telegraphic Transfer (inward) US$4 Free
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
1% of the amount min K175 1% of the amount min K175
max K 528 or USD equivalent max K 528 or USD equivalent
plus VAT plus VAT
SALE OF FOREIGN EXCHANGE
Foreign currency notes Selling rate Selling rate
Telegraphic transfer (outward) 0.75% of amount, min US$45, 0.75% of amount, min US$45,
max US$150 or Kwacha equivalent. max US$150 or Kwacha equivalent.
Investigating fees on Telegraphic Transfers K184.80 plus US$30 K184.80 plus US$30
correspondent charges correspondent charges
1% of the amount min K158.40 max 1% of the amount min K158.40 max
K528 or USD equivalent plus VAT K528 or USD equivalent plus VAT
K132 K132
K132 plus US$30 K132 plus US$30
correspondent charges correspondent charges
Conversion from ZMW to Foreign Currency Selling rate Selling rate
Collection charges on cheques – International N/A 1%, min K 132 max K 607.20
or USD equivalent
Postage Full cost plus VAT Full cost plus VAT
LOANS & OVERDRAFTS
applied to Customer Account at month end) USD Base Rate + Margin USD Base Rate + Margin
Authorised Loans &
USD Base Rate + Margin USD Base Rate + Margin
Arrangement fees 3% min K500 3% min K600
(new, renewal, enhancement, excess)
Appraisal Fees for cancelled Not applicable 1% of Amount, min $100,
max $500 or Kwacha equivalent
Commitment fees Not applicable 1.2% of the undrawn portion if
not fully drawn in 6 months
K500
GUARANTEES
Arrangement Fee Not applicable 2% min K550
Bank Guarantee Not applicable 0.75% per quarter or part
hereof min K500
Cheque Guarantee Not applicable 0.75% per quarter or part
thereof min K500
Bid Bond Not applicable 0.75% per quarter or part
thereof min K500
Performance Bond Not applicable 0.75% per quarter or part
thereof min K500
Advance Payment Guarantee Not applicable 0.75% per quarter or part
thereof min K500
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
Retention Bond Not applicable 0.75% per quarter or part
thereof min K500
Warehouse Bond Not applicable 0.75% per quarter or part
thereof min K500
Customs and Excise Bond Not applicable 0.75% per quarter or part
thereof min K500
Sealing bids Not applicable K200
OUTWARD LETTERS OF CREDIT – IMPORTS
Arrangement fee on Usance L/Cs Not applicable 1.5% of the amount
Usance L/Cs Not applicable 0.75% per quarter or part
thereof min K686.40 Sight L/Cs
Sight L/Cs Not applicable 0.5% per quarter or part
thereof min K686.40
Donor Funded L/Cs Not applicable Donor/cash covered 0.3% min K528
Cancellation of import L/C Not applicable K528 or USD equivalent
Closing charge under undrawn L/C Not applicable K528 or USD equivalent
Extension of L/C expiry date validity Not applicable Ext with confirmation 0.5% of
amount min K158.40 max K264
Drawing commission Not applicable K13
Amendment commission Not applicable K264 plus SWIFT charge
or USD equivalent
Amendment for increase in Value Not applicable 1% of the additional amount
min K290.40
Inland courier postage Not applicable Actual courier cost plus 50%
thereof as handling charges
Delivery of Documents Not applicable K100
Other amendments Not applicable K158.40 or USD equivalent
INWARD LETTERS OF CREDIT – EXPORTS
Advising Commission Not applicable K528.40 or USD equivalent
Confirmation Commission Not applicable 0.5% per quarter or part
thereof min K686.40
Negotiation Commission Not applicable 0.75% per quarter or part
thereof min K686.40 or
USD equivalent
Extention of L/C expiry date validity Not applicable As per initial confirmation charge
plus K264 amendment
Other amendments Not applicable K264 or USD equivalent- SWIFT charge
Courier charge Not applicable K 528.40 or USD equivalent
Closing charge under undrawn L/C Not applicable Outstanding charges plus closing
charge of K264
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
Retention Bond Not applicable 0.75% per quarter or part
thereof min K500
Warehouse Bond Not applicable 0.75% per quarter or part
thereof min K500
Customs and Excise Bond Not applicable 0.75% per quarter or part
thereof min K500
Sealing bids Not applicable K200
OUTWARD LETTERS OF CREDIT – IMPORTS
Arrangement fee on Usance L/Cs Not applicable 1.5% of the amount
Usance L/Cs Not applicable 0.75% per quarter or part
thereof min K686.40 Sight L/Cs
Sight L/Cs Not applicable 0.5% per quarter or part
thereof min K686.40
Donor Funded L/Cs Not applicable Donor/cash covered 0.3% min K528
Cancellation of import L/C Not applicable K528 or USD equivalent
Closing charge under undrawn L/C Not applicable K528 or USD equivalent
Extension of L/C expiry date validity Not applicable Ext with confirmation 0.5% of
amount min K158.40 max K264
Drawing commission Not applicable K13
Amendment commission Not applicable K264 plus SWIFT charge
or USD equivalent
Amendment for increase in Value Not applicable 1% of the additional amount
min K290.40
Inland courier postage Not applicable Actual courier cost plus 50%
thereof as handling charges
Delivery of Documents Not applicable K100
Other amendments Not applicable K158.40 or USD equivalent
INWARD LETTERS OF CREDIT – EXPORTS
Advising Commission Not applicable K528.40 or USD equivalent
Confirmation Commission Not applicable 0.5% per quarter or part
thereof min K686.40
Negotiation Commission Not applicable 0.75% per quarter or part
thereof min K686.40 or
USD equivalent
Extention of L/C expiry date validity Not applicable As per initial confirmation charge
plus K264 amendment
Other amendments Not applicable K264 or USD equivalent - SWIFT charge
Courier charge Not applicable K 528.40 or USD equivalent
Closing charge under undrawn L/C Not applicable Outstanding charges plus closing
charge of K264
PRODUCT/SERVICE PERSONAL CUSTOMERS MSME CUSTOMERS
Not applicable Based on base rate plus margin
K264 per set of documents on
both imports and exports
LC document examination Not applicable K264 per set of documents on
both imports and exports
TENDER/PERFORMANCE/ADVANCE PAYMENT
Issuing commission Not applicable 2% bi – annual min K729 - SWIFT charge
Collection Commission Export Documentary Not applicable 1% of value, min K729 - courier charge
Collections Not applicable K528
Collection Commission Import Documentary Not applicable 1.5% of value, min K729
plus courier charge
Collections Not applicable K528
COMPANY DEEDS REGISTRY SEARCH
Companies Not applicable K150 plus VAT
Societies Not applicable K100 plus VAT
Co-operatives Not applicable K100 plus VAT
Non-Governmental Organisations (NGOs) Not applicable K200 Plus VAT
