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RBZ Set To Review Bank Withdrawal Limit As Mobile Money Traders Increase Cash Out Percentage
The Finance Minister Mthuli Ncube has promised to engage the RBZ to review the withdrawal limit which stands at $300 per week right now, The Herald reports.
The matter came to light in parly as the Finance Minister was responding to questions from legislators on the ministerial statement that he had presented.
Professor Ncube responding to Settlement Chinyika’s question on the government’s plans to review cash withdrawal limit said:
On cash limit, I agree with the member, it ought to be reviewed
Meanwhile, pensioners are sleeping in bank queues trying to withdraw cash from banks as mobile money traders are charging a 40% premium per transaction.
