Tag: FCA Nostro accounts

Civil servants opening FCA accounts will be charged less by banks says George Charamba

Last week, we wrote an article aimed at helping civil servants looking to choose a bank to open an FCA account with. The article had account opening, debit card issuance and service fees for over 10 banks but it seems its use has been diminished since the government has intervened and announced that civil servants […]

What Do You Need To Open A Nostro FCA Account & How Much Will It Cost?

So the government recently announced that civil servants will be getting US$75 as a bonus for the next 3 months, but in order to do so they should open a Nostro account where the US$75 will be deposited. PS: It’s important to note that back in 2019, the RBZ made it such that individuals could […]

Nostro FCA Holders Won’t Be Compensated When A Bank Shuts Down

Deposit Protection Corporation (DPC) was established to protect depositors by paying them back a certain amount of money when their bank goes bankrupt. In other words, DPC insures your deposits so that you get something if your bank becomes insolvent or bankrupt. Insuring deposits gives depositors confidence in the banking system because they know that […]

FCA Bank Charges For CBZ Customers

Take a look at how much you will be charged for your CBZ Foreign Currency Account (FCA). Quick NetOne, Telecel, Africom, And Econet Airtime Recharge Number to recharge: Airtime amount: EcoCash number: {{error_message}} {{error_message}} If anything goes wrong, chat with us using the chat feature at the bottom right of this screen

Mangudya Says “Social Media In This Country Is Full Of Lies” And He’s Now Dealing With ZimBollar

It seems like The Reserve Bank of Zimbabwe chief, John Mangudya has found a new place to throw blame at: social media. During a Question and Answer session before the Parliamentary Committee on Budget and Finance he said: Some people want to spread malicious information so do not confuse indiscipline with communication. Social media in […]

Bait And Switch, Our USD Have Been Stolen By Gvt Again, Beware The Next Lie

I never bought into the whole FCA nostro nonsense. This is one of the times however, that I hate to be proved right. The directive sent to banks by the Reserve Bank of Zimbabwe today the 25th of June 2019 is your confirmation that you should never trust what the Zimbabwean government, the central bank […]

Nostro FCA My Foot, My Money Is Better Off Under My Mattress

So the governor of the Reserve Bank of Zimbabwe and the banks that he presides over and the government that employs him are telling us to trust them again. We are foolish to do so if we do. First there’s been no admission of guilt None of these guys have admitted that they robbed us. […]