How do Zimbabwe's prepaid US$ card fees stack up against one another?

Here’s a look at how the prepaid US$ (VISA or MasterCard) card options in Zim stack up against each other on transactions fees and other charges.

Source: How do Zimbabwe’s prepaid US$ card fees stack up against one another? – Techzim

Zimbabwe has a number of prepaid card (VISA or MasterCard) options for those who want to buy things online, pay for services like DStv or are frequent travellers. Here’s a comparison of some of the prepaid options available and what they will cost over a number of categories.

The list of fees won’t directly compare because some of the categories may not be listed by the respective bank. We will be looking at BancABC’s prepaid VISA, FBC’s MasterCard, CABS’ prepaid MasterCard, and Steward prepaid Globetrotter VISA.

Prepaid card requirements

CABS, Steward and FBC have on thing in common and that is they have more extensive KYC requirements. You’ll have to provide a copy of your identification document, a proof of residence, fill in an application form and a couple of photos.

BancABC, on the other hand, you can do it from home through the bank’s Dial-A-Visa program. All you need to is call Branch X and request a VISA card and they will deliver it to you. You’ll need to give the messenger a copy of your ID and fill in a form when they arrive.

We are under the assumption that transactions include the 2% IMMT

Card Issuing fees

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$5.00 (US$5 for the card and the other as a deposit)	US$5.00 (minimum initial deposit of US$50.00)	US$5.00 (total card application fee is US$20 the rest goes into the account)	US$ 10.00

Prepaid card service fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$0.50 per month	not specified	none	not specified

Prepaid card deposit fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$0.50	not specified	2.5% of amount deposited	US$1.00

Insufficient funds fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$0.30	not specified	none	US$0.50

POS/Swipe online transaction charge

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	1% Min US$1	1% of purchase amount (plus 5c stamp duty)	1.88% of amount	1.75% of transaction value with minimum $2 and a maximum of $100

Cash withdrawal same bank ATM

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$2.50	US$2.5 plus 1.5% of withdrawn amount (plus 5c stamp duty)	3% minimum US$3.50	3% minimum $3.50

Cash withdrawal other banks (local) ATM fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$2.50	n/a	3% minimum US$3.50	3% minimum $3.50

Cash withdrawal other banks (international) ATM fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	1.5% min US$2.50	not specified	3% minimum US$3.50 (there is a 3% conversion fee if withdrawing in a currency that is not US$)	3% minimum $3.50

Prepaid card to card transfer fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$1.00	not specified	US$5.00	2% min US$2.00

Prepaid card to account transfer fee

Bank	BancABC	CABS MasterCard	FBC MasterCard	Steward VISA
Fee	US$1.00	not specified	n/a	n/a

You should also check out the episode of Technikari where went back and forth about which card between FBC and BancABC’s prepaid card is the better one:

How do Zimbabwe’s prepaid US$ card fees stack up against one another?