Zanaco International Money Transfer

Zambia National Commercial Bank, mostly known as Zanaco, is a leading financial institution in Zambia, serving retail customers, big corporations, agri-business, and other public sector clients. 

Zanaco is one of the leading banks in Zambia and a top financial institution that provides innovative solutions to its clients. As such, it is one of the top choices when receiving money from abroad. 

If you’re wondering if  Zanaco can receive money from abroad, this post is for you. Below, we cover everything you need to know about using Zanaco to make international transactions.

Zanaco International Money Transfer

As one of the driving banks in Zambia, Zanaco offers a wide range of services, including international money transfer. You can use your Zanaco bank account to send and receive money from virtually anywhere in the world. 

Zanaco Bank uses Telegraphic Transfers (TT) to send and transfer funds in foreign currencies to any destination in the world. You can make transfers from Zambia or receive money through this method in a few simple steps. 

Zanaco International Money Transfer Requirements

For an international money transfer, you need to visit the nearest Zanaco branch and fill out a form. You’ll also be required to provide the following information about the beneficiary:

• Beneficiary’s account name
• Their account number
• Their bank
• Their country
• Their swift code
• The purpose of sending the money

Telegraphic transfers can be used to pay for goods and services purchased online, pay for university fees, pay medical bills abroad, legal fees, and even shipments coming from abroad. 

You can only use this method for international transfers if you already have a Zanaco bank account. The money transfer will be facilitated by debiting your bank account. 

Fortunately, you can make the transfer regardless of the type of currency you hold in your account. You can hold money in Dollar, Rand, Pound, Euro, or Kwacha, and still make the transfer. 

If your money is in Kwacha, the money will first be converted to US dollars or any other currency you want at the prevailing exchange rate. Transfers abroad are limited to these currencies:

• US dollar
• British pound
• Euro
• South African rand

Zanaco International Money Transfer Limit

Zanaco Bank allows international money transfers of any amount. However, if the amount exceeds $5,000 or its equivalent, you must add supporting evidence, either an invoice or a quotation. For personal remittances, you must write the purpose when signing the transfer.

Zanaco International Money Transfer Charges

Zanaco charges a flat fee of 1% of the amount you’re sending, with a minimum charge of $15 and a maximum of $60 for each transaction.

Closing Thoughts

Zanaco is one of the best banks in Zambia and one of the top choices when making international money transfers. The bank facilitates money transfers in five major currencies through Telegraphic transfers. 

All you need to do to send money internationally through Zanaco Bank is to fill out the form and provide all the necessary details. Zanaco international money transfer makes it easier to send money abroad and pay for goods and services purchased online.