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ZIPIT transaction limit increased


Harare (New Ziana) -ZIPIT (ZIMSWITCH Instant Payment Interchange Technology) has increased from $25 000 to $100 000, the maximum person-to-person transaction limit.

ZIPIT is a platform that enables instant inter-bank funds transfers between ZIMSWITCH member institutions (Banks and Wallets) connected to the ZIMSWITCH network.

“Please be advised that the ZIPIT person to person transaction limit has been reviewed from ZWL$25,000 to ZWL$100,000 with a monthly limit of ZWL$400,000 effective 1st of August 2022,” it said.

ZIPIT said there was no change in the monthly maximum transacting limit on the platform.

“In other words, an individual may now opt to send up to ZWL$100,000 per single transaction but ultimately being governed by the maximum limit of ZWL$400,000 per month,” it said.

The move comes as members of public have called on the Reserve Bank of Zimbabwe to crease maximum withdrawal limits, which remain at ZWL5 000 per week, translating to USD$11 using the official rate.

New Ziana