RBZ cuts limits bank charges, expands mobile and ZipIt limits

THE Reserve Bank of Zimbabwe (RBZ) has reined in bank charges, setting a 2% ceiling on cash withdrawal fees and a 1,5% cap on point-of- sale (POS) charges, while scrapping account balance inquiry fees, in measures aimed at cutting banking costs.

This comes after years of depositors complaining of extremely high bank charges, with bankers defending the exorbitant amounts as crucial to staying profitable.

Speaking during the presentation of the 2026 Monetary Policy Statement (MPS) yesterday, RBZ governor John Mushayavanhu said the central bank had taken the decision in response to calls from businesses.

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