Foreign Currency Accounts

Benefits for operating an FCA

  • the safety of funds in a formal banking channel,
  • ZB Bank had the experience attained over the years in handling forex transactions,
  • ZB Bank has wide foreign correspondent banking relationships
  • Ready access to travelers cheques for travelers
  • Access to an international VISA card to lighten travelers' burdens or reduce fear of theft when travelling
  • Clients can instruct for telegraphic transfers across the globe or drafts to be effected in payment of subscriptions, university fees, child pocket money (College living expenses), DSTV subs, etc.

All these benefits accrue to someone who holds an individual FCA with ZB Bank and has the necessary balance in their account to request for the foreign instrument they require.

Major Features of the Individual FCA include:

  • Forex can be received into the account by means of a Telegraphic Transfer
  • Forex cash can be deposited into the FCA for someone to withdraw traveler's checks or give instructions for a Telegraphic Transfer or Draft to be done after cash deposits.
  • Unutilised Travelers cheques can be deposited back into the FCA.
  • One can opt to have account service fees in ZWDs.

Individual Foreign Currency Accounts (FCA)

Who can apply?

  • Any Zimbabwean with ID particulars and proof of residence can operate an individual FCA.
  • An employee of an NGO whether they are Zimbabwean or Foreign but they should have an acceptable ID and proof of residence as well.

N.B -NGO, embassies and other international organization's employees can have access to foreign currency cash withdrawal (within exchange control regulations)

For more information please contact us

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