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 | High net worth customers i.e. 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% per annum payable on a quarterly basis if minimum average balance exceeds K50,000.00 |
| 5 | Maintenance Charges | Free |
| 6 | Minimum Balance Requirement | K5,000.00 |
| 7 | Minimum Bal Charge | K 150/- per occasion |
| 8 | Cheque Book charge | i. One (1) free cheque book per month ii. if more than one (1) then normal cheque book charges shall apply. |
| 9 | SMS Alert | Available – Free |
| 10 | Internet Banking i) Password reset | K120/- per annum K25/- per occasion |
| 11 | Monthly Statement | Free – once a month |
| 12 | Duplicate/Interim Statement | K50/- per page per occasion |
| 13 | Transaction Fee | Free |
| 14. | E-statement | Free |
| 15. | Closure of account | N/A |
| 16. | Cash Deposits (At any IZB Branch) | i) Free up to K 100,000/- ii)Above K 100,000/- per day of part thereof K5/- per K10,000/-; or part thereof Max. K 100/-) |
| 17. | Cash Withdrawal Charges (at any IZB branch) | Free |
| 18. | Issuance of Deposit Book | Free |
| 19. | IZB Visa Chip Debit Card – Charges i) Issuance charge i) Cash Withdrawals (in kwacha) Other Bank’s VISA enabled ATMS in Zambia
Other Banks VISA enabled ATMs (abroad) i) Cash Withdrawal ii) Balance Enquiry Visa Dispute Fee
| Free
K100/- per replacement
K8/-
K15/-
K35/- K10/- Free, however, if the matter goes for arbitration, appropriate fees shall apply on a cost recovery basis. |
| 20. | 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 Free K840/- per cheque Free |
| 21. | Stop Payment Instructions | K 250/- per occasion |
| 22. | Remittances (Kwacha)
| K100/- plus VAT [Free 3 cheques per month (Non commutation) for IZB-PRV only]T K 50/- K 75/- K 100/-
Free K 55/- per transaction K 40/- per transaction K25/- per transaction K10/- per transaction K 50/- per transfer |
| 23. | Balance confirmation charges | K200/- per certificate |
| 24. | Authentication/Authorisation/Verification of other documents (only if closed within last 6 months) | K50/- per document for confirmation/ authorization /verification of documents |
| 25. | Standing Order Charges i) Setting up charges | K50/- K20/- per transaction K25/- per transaction Free |
| 26. | Dormant Account | Free |
| 27. | Reactivation of Account (only if closed within last 6 months) | Free |
| 28. | Photocopies at customer’s request | K 10/- per page |
| 29. | Request for retrieval of paid cheque, deposit slip, transfer request or any Bank record. | K 200/- per instrument |
| 30. | Status Report/Bankers enquiry/References letter | K50/- per report/enquiry/letter |
| 31. | Search Fees | K150/- |
| 32. | ZRA Online Tax Payment | i) Online K25/- per transaction ii)Over the counter (walk-in-customers) K35/- per transaction |
| 33. | NAPSA Online Payment | Free |
| 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 |
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