Circular 02/2015: Revised Charges and Penalties for ZIPSS and CSD
The Bank of Zambia issues Circular 02/2015 to establish revised fee structures for the Zambia Interbank Payment System (ZIPSS) and Central Securities Depository (CSD). The directive mandates tiered transaction charges for MT103 and MT202 payments based on processing windows, alongside fixed administrative fees for VPN bandwidth, RTGS registration, and e-Token requests. It also imposes strict penalty charges for end-of-day transaction cancellations, insufficient fund queuing, invalid entries, and operating hour extensions, while applying a two percent handling fee on primary treasury bill and government bond auction income.
Monthly payment for VPN bandwidth usage<br>Charge for VPN bandwidth usage.
3,200.00
2.
Entry Fee (Designation) for RTGS system<br>Fee for a new bank registering on ZIPSS
15,000.00
3.
Request for new e-Token<br>Request for new e-Token or replacement of lost or damaged e-Token
600.00
ZIPSS CHARGES
No.
Charge
Amount (K)
SOD to 10:30
1.
Processing MT103<br>Fee for processing a customer payment
10.00
2.
Processing MT202<br>Fee for processing a bank to bank payment
10.00
3.
ASA Processing Fee per Transaction<br>Charge for using the Authorized Settlement Agent facility
ZIPSS PENALTIES
No.
Charge
Fee (K)
1.
Cancellation of Pending Transactions by System at EOD (MT103/MT202)<br>Penalty charge for the cancellation of a transaction in the queue by the system at EOD due to insufficient funds (per transaction)
1,000.00
2.
Queuing of NSI due to Insufficient Funds<br>Penalty for causing the queuing and delay of settlement of NSI due to insufficient funds.
10,000.00
3.
Invalid Transactions<br>Penalty for processing transactions which are rejected by the System for such reasons as missing REC Code, wrong date, wrong currency etc.
100.00
4.
Request for extension of Window<br>Request by a participant to extend the operating hours of the RTGS system.
5,000.00
CSD PROCESSING FEES
No.
Charge
Amount (K)
1.
Primary Treasury bill Auction<br>Handling Fee applied on discount earned and collected on maturity date
2% of income earned
2.
Primary Government Bond Auction<br>Handling Fee applied on coupon amount and collected on coupon payment date
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