Our Products

Transactional Accounts

Transactional Services

POSB offers affordable low cost transactional accounts to meet daily transaction requirements. Transactional account holders have access to our Cellbank, internet banking, and debit cards.

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Individual Account

This account enables individuals to meet their transactional needs including deposits, withdrawals and transfers.

 

Account Opening Requirements

• Original ID (National ID, Driver’s License or valid passport)

• Copy of ID

• Proof of Residence

Benefits/Key Selling Points

• Account can be opened in any currency as required by clients

• Lowest bank charges on the market

• Access to POSB’s wide distribution network – 35 own branches, over 300 agents, POS facilities, Internet Banking, Cellphone Banking, Bank to Wallet services and Zimswitch.

NSSA Account

This is an account created specifically for NSSA pensioners to receive NSSA benefits. The account attracts exemptions and subsidised rates for pensioners. A minimum balance of $0.00 can be maintained on this product.

Account Opening Requirements

• Original ID ( National ID, Driver’s License or valid passport)

• Copy of ID

• NSSA account opening letter • Proof of residence ( Latest utility bills, letter from employer, Headmaster, Chiefs, District office)

Benefits/Key Selling Points

• Zero minimum balance can be maintained

• Exemptions and subsidised bank charges

• Access to POSB’s wide distribution network – 35 own branches, over 300 agents, POS facilities, Internet Banking, Cellphone Banking, Bank to Wallet services and Zimswitch.

Senior Citizen Account

The Senior Citizen account was created explicitly for Senior Citizens aged 75 and above. This account allows senior citizens to enjoy free traditional banking services. This account features zero monthly service fees.

Account Opening Requirements

• Original ID ( National ID, Driver’s License or valid passport)

• Copy of ID

• Proof of residence ( Latest utility bills, letter from employer, Headmaster, Chiefs, District office)

Benefits/Key Selling Points

• Account can be opened in any currency as required by clients

• Lowest bank charges on the market

• Access to POSB’s wide distribution network – 35 own branches, over 300 agents, POS facilities, Internet Banking, Cellphone Banking, Bank to Wallet services and Zimswitch.

Pensioners Account

This is a low cost account for all pensioners aged 65 to 74.

Pensioner’s Account Opening Requirements

• Original ID (National ID, Driver’s License or valid passport)

• Copy of ID

• Proof of residence (Latest utility bills, letter from employer, Headmaster, Chiefs, District office)

Benefits/Key Selling Points

• Access to low cost Banking

• Access to POSB’s wide physical distribution channels

Individual Farmers Account

The account targets communal farmers. With this account, customers receive a free debit card and can also access electronic channels for ease of transacting.

Individual Farmers Account Opening Requirements

• Original ID ( National ID, Driver’s License or valid passport)

• Copy of ID

• Grower’s Number

Benefits/Key Selling Points

• Free debit card

• Low withdrawal charges

• Access to low cost banking • Access to POSB’s wide distribution network – 35 own branches, over 300 agents, POS facilities, Internet Banking, Cellphone Banking, Bank to Wallet services and Zimswitch

Club Account

• Free debit card

The Club account is a low cost account which enables collectives such as churches, schools, burial societies, co-operatives, and social clubs, etc, to meet their transactional requirements.

Account Opening Requirements

• Original ID ( National ID, Driver’s License or valid passport) of authorised signatory

• Copy of member’s ID

• Proof of residence ( Latest utility bills, letter from employer, Headmaster, chiefs, District office) of members. • Club constitution/Minutes/Resolutions

Benefits/Key Selling Points

• Access to low cost Banking

• Access to POSB’s wide distribution network – 35 own branches, over 300 agents, POS facilities, Internet Banking, Cellphone Banking, Bank to Wallet services and Zimswitch

School Account

• Free debit card

The School account was created specifically for educational institutions such as pre-schools, nurseries, primary schools, high schools, colleges and universities.

Account Opening Requirements

• Original ID ( National ID, Driver’s License or valid passport) of authorised signatory

• Copy of IDs

• Constitution/ Resolution/Minutes • Proof of residence of authorised signatory

Benefits/Key Selling Points

• No withdrawal charges

• No monthly account maintenance fees

• Unrestricted deposits and withdrawals • Access to school development loan facilities

Church Account

• Free debit card

This transactional account was created specifically for churches and religious organisations.

Account Opening Requirements

• Original ID (National ID or Driver’s License or Valid passport) of authorized signatories

• Copies of members’ IDs

• Proof of residence of authorized signatories • Constitution / Minutes /Resolution

Benefits/Key Selling Points

• No monthly account maintenance fees

• No withdrawal charges

• Unrestricted deposits and withdrawals

Youth Account

• Free debit card

This is a low cost transactional account targeting youths aged between 16 and 24 years. (Youths are issued with debit cards which can be activated on to Cellbank.) The Youth Account is ideal for secondary or high school and tertiary level students. It is designed to help youths manage their day to day financial transactions at a very low cost.

Account Opening Requirements

• Student I.D

• National ID

• Photocopy of ID

Benefits/Key Selling Points

• No monthly account maintenance fees

• No withdrawal charges

• Debit card issue • Access to Cellbank and Zimswitch • Access to POSB wide branch and agency network of 35 own branches and over 300 agents

People's Choice Account

• Free debit card

The People’s Choice account is an instant and affordable account that can be linked to Cellbank. The account comes with a debit card which can be used to transact at any Zimswitch ready ATM and POS machines.

Account Opening Requirements

• National ID

• $2 initial deposit

Benefits/Key Selling Points

• Hassle-free, instant account opening

• No monthly account ledger fees

• No minimum balance • Access to Cellbank and Zimswitch • Access to POSB wide branch and agency network of 35 own branches and over 300 agents

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