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IZB Privilege Current Account

This is a business current account offering premier business banking solutions and services designed specifically to meet business operation needs including concessions on service charges

WEF: 12.02.2018    
Sr.No. Product Name IZB PRIVILEDGE CURRENT ACCOUNT
1 Target Group Individual/ Business accounts, Parastatals, Limited Companies, Partnership firms, Proprietorship firms, Trusts, Association of persons registered societies.
2 Account Opening Requirement KYC requirement as stipulated
3 Type of Account IZB – PRV
4 Rate of Interest 2% p.a (on amounts above the average monthly balance of K200,000 & a minimum balance of
K100,000 is maintained during the entire month).
Interest credit to the account on quarterly basis.
5 Maintenance Charges Free
6 Minimum Balance Requirement K200,000 and above, with minimum balance of K100,000 at any time
7 Minimum Bal Charge K 150/- per occasion
8 Cheque Book charge Free
9 SMS Alert Available - Free
10 Internet Banking

i) Password reset

Free for a max. of 2 users. K120/-  per annum–for 3rd user or more.
K25/- per occasion
11 Monthly Statement Free – once a month
12 Duplicate/Interim Statement K50/- per page per occasion
13 Transaction Fee Free 15 entries thereafter K3.00 per entry
14 E-statement Available - Free
15 Cash withdrawal with withdrawal slip in cheque issued account K100/- per occasion
16 Issuance of Deposit Book Free
17 IZB ATMs
i) Cash Withdrawals
ii) Balance Enquiry
iii) Mini Statements
K 6/-
Free
K 3/-
18 Other Bank’s VISA enabled ATMS in Zambia
i) Cash Withdrawal
ii) Balance Enquiry
K12/-
K5/-
19 Other Banks VISA enabled ATMs (abroad)
i) Cash Withdrawal
ii) Balance Enquiry
K25/-
K10/-
20 Visa Dispute Fee $40
21 ATM Cash Withdrawal Limit per day (at IZB ATM / other ATM) K5,000 per day (subject to balance available in account)
22 Purchase transaction Limit per day K10,000 per day (subject to balance available in account)
23 Online payment Limit per day K3,000 per day (subject to balance available in account)
24 Return of cheques
a) Individual
i) For financial reasons (Refer to Drawer)
ii) For other reasons
b) Corporate A/ct
i) For financial reason
ii) For other reasons
K 510 - per cheque
K 60 – per cheque
K840/- per cheque
K60/- per cheque
25 Stop Payment Instns ZMW 250/- per occasion

Sr.No.
Nature
Charges
1.
Remittances (Kwacha)
(a) Banker’s cheque
(b) Cancellation of Banker’s cheque
(c) Issuance of duplicate Banker’s
cheques in lieu of lost cheque
(d) Cancelling of lost
Banker’s cheque
ii) Other remittances
a) Within IZB branches
b) Other Banks (RTGS)
iii) DDACC
iv) Transfer of funds on
closure of account

K100/- plus VAT [Free 3
cheques per month
(Non commutation) for IZB-PRV only]
K 50/-
K 75/-

K 100/-

Free
K 40/- per transaction
K25/- per transaction
K 50/- per transfer
2.
Balance confirmation
charges
K150/- per certificate
3.
Authentication/ Authorisation/
Verification of other documents
K50/- per document for
confirmation/ authorization
/verification of documents
4.
Standing Order Charges
i) Setting up charges
ii) Processing
(internal) intra-bank
iii) Processing
(external) Inter-bank
iv) Amendment

K50/-
K20/- per transaction
K40/- per transaction
K50/- per transaction
5.
Dormant Account Free
6.
Reactivation of Account
(only if closed within last 6 months)
Free
7.
Photocopies at
customer’s request
K 10/- per page
8.
Request for retrieval of paid cheques K 100/- per cheque
9.
Drawal against un-cleared effects 1.5% (min. K200/-)
10.
Tracers K150/-
11.
Status Report/ Bankers enquiry/ Reference letter K150/- per enquiry
12.
Search Fees K150/-
13.
ZRA Online Tax Payment K25/- per certificate