{"id":54276,"date":"2022-02-07T19:53:02","date_gmt":"2022-02-07T17:53:02","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=54276"},"modified":"2022-02-07T18:18:19","modified_gmt":"2022-02-07T16:18:19","slug":"rbz-raises-mobile-banking-transaction-limit-to-10-000-per-day","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/rbz-raises-mobile-banking-transaction-limit-to-10-000-per-day","title":{"rendered":"RBZ Raises Mobile Banking Transaction Limit To $10 000 Per Day"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>The Reserve Bank of Zimbabwe (RBZ) has raised the limit on mobile banking transactions from person to person from ZW$5 000 to ZW$10 000 per transaction and from ZW$35 000 per week to ZW$70 000 per week.<\/p>\n

In August 2020, the RBZ ordered a limit on mobile banking transactions (EcoCash, Telecash, OneMoney) for all individuals at a maximum of ZW$5 000 per day and ZW$35 000 per week.<\/p>\n

In his Monetary Policy Statement (MSP) issued this Monday, RBZ Governor John Mangudya announced a cocktail of measures the central bank has put in place to promote the use of the Zimbabwe dollar.<\/p>\n

The central bank governor also announced that more forex will be availed for fuel service stations that sell fuel in Zimbabwe dollars.<\/p>\n

Some of the measures announced by the RBZ to promote the use of the local currency in domestic transactions include:<\/p>\n

Increasing foreign exchange availability to fuel service stations designated by the Zimbabwe Energy Regulatory Authority (ZERA) to sell fuel in local currency.<\/p>\n

\u2026 Maintaining minimum deposit rates for savings and time deposits at 10% and 20% respectively, to preserve value for local currency deposits.<\/p>\n

\u2026 Building foreign exchange reserves to provide the necessary backup support for the local currency to enhance its attractiveness through setting aside 5% of the foreign exchange available for the auction system.<\/p>\n

The RBZ also resolved to increase the limit on mobile banking transactions as follows: The MPS read:<\/p>\n

\u2026 person to business from ZW$20 000 to ZW$25 000 per transaction with a maximum limit of ZW$100 000 per week<\/p>\n

\u2026 person to person from ZW$5 000 to ZW$10 000 per transaction with a limit of ZW$70 000 per week.<\/p>\n

\u2026 increasing the cash withdrawal limit for the banking public from ZW$2000 to ZW$5000 per week.<\/p>\n

The RBZ said it appreciates the effort being made by banks to enable cashless transactions through digital and electronic banking services to their customers.<\/p>\n

The central bank called on members of the public to bank their cash and utilise digital and electronic services, which include credit and debit cards.<\/p>\n

It said this will minimise the risk of theft and robberies associated with carrying cash on person or possession of large sums of cash at premises.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. The Reserve Bank of Zimbabwe (RBZ) has raised the limit on mobile banking transactions from person to person from ZW$5 000 to ZW$10 000 per transaction and from ZW$35 000 per week to ZW$70 000 per week. In August 2020, the RBZ ordered a limit on mobile banking transactions (EcoCash, Telecash, OneMoney) […]<\/p>\n","protected":false},"author":84,"featured_media":54275,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,906,8498,2062,5792,4201,4753,653,19],"class_list":{"0":"post-54276","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-ecocash","14":"tag-ecocash-limit","15":"tag-john-mangudya","16":"tag-monetary-policy-statement","17":"tag-mps","18":"tag-onemoney","19":"tag-rbz","20":"tag-zimbabwe"},"yoast_head":"\nRBZ Raises Mobile Banking Transaction Limit To $10 000 Per Day - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has raised the limit on mobile banking transactions from person to person from ZW$5 0 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-raises-mobile-banking-transaction-limit-to-10-000-per-day\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBZ Raises Mobile Banking Transaction Limit To $10 000 Per Day\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of Zimbabwe (RBZ) has raised the limit on mobile banking transactions from person to person from ZW$5 0 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-raises-mobile-banking-transaction-limit-to-10-000-per-day\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T17:53:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-07T16:18:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2022\/02\/img-6201461d11613.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"621\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-raises-mobile-banking-transaction-limit-to-10-000-per-day\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/rbz-raises-mobile-banking-transaction-limit-to-10-000-per-day\",\"name\":\"RBZ Raises Mobile Banking Transaction Limit To $10 000 Per Day - 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