Zipit introduces new limits for individual transactions

by 3-mob.com 28 May, 2020, 7:41 pm

Zimswitch has instituted new limits on the Zipit (ZIMSWITCH Instant Payment Interchange Technology) system.

Photo by Startup Stock Photos from Pexels

This is in response to new temporary limits by the Reserve Bank of Zimbabwe on daily and monthly transactions.

ALSO READ: RBZ imposes ‘temporary’ limits on Zipit transactions

A new limit of ZWL3,000 per transaction has immediately been imposed. This after the central bank’s Financial Intelligence Unit set a limit of ZWL100,000 per month.

The limits will be communicated to the public accordingly.

Zipit (ZIMSWITCH Instant Payment Interchange Technology) is a platform that enables instant inter-bank funds transfers between ZIMSWITCH member institutions.