adminAnnouncing the 2012 Monetary Policy statement on 2 February this year, Reserve Bank Governor Gideon Gono set $10 000 as the minimum cash withdrawal limit with amounts exceeding that threshold now requiring prior notice.
Dr Gono said transactions for between $10 001 and $20 000 would now require 24 hours notice, $20 001 to $30 000 requires 48 hours and 72 hours for $30 001 to $40 000.
Withdrawals for $40 0001 to $50 000 now require 96 hours while five days notice is required for payments above $50 001.
CZI president Dr Joseph Kanyekanye said the existence of electronic transfers would dilute effects of the cash withdrawal limits.
“The cash withdrawal limit only affect the circulation of hard cash in the system,” he said.
The circulation of large amounts of cash in the system has worsened liquidity, delayed cash payments and promoted illegal cash externalisation, prompting the RBZ to set cash withdrawal limits.
Other methods of payment in Zimbabwe include the Real Time Gross Settlement (RTGS), bank cheques, use of Automated Teller Machine Cards (ATMs) and money transfer agents. – New Ziana.
Online Reporter
- Chronicle
- July 31, 2026
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