Regulatory Alerts2020-01-01
Circular 07/2020: Revision of ZIPSS Fees 2020
The issuing regulator published Circular 07/2020 to revise the Zimbabwe Interbank Payment and Settlement System (ZIPSS) fee schedule for 2020. The updated charges halve the Authorised Settlement Agent processing fee from K100 to K50 while restructuring customer and interbank payment fees into time-based tiers ranging from K0 to K20. Financial institutions must immediately adopt these revised rates to maintain compliance with the updated settlement framework.
Schedule I: ZIPSS Charges No. Charge Amount (K) Old New SOD to 10:30 10:30 to 14:30 14:30 to EOD SOD to 10:30 10:30 to 14:30 14:30 to EOD 1 Processing MT103 Fee for a customer payment 10.00 15.00 20.00 0.00 5.00 15.00 2 Processing MT202 Fee for processing a bank to bank payment 10.00 15.00 20.00 0.00 5.00 15.00 3 ASA Processing fee per Transaction Charge for using the Authorised Settlement Agent Facility 100.00 50.00