NMB to discontinue international payments using Visa Debit Card
I have good and bad news, but since I’ve been bearing bad news since yesterday, let me start with the good news.
The good news is that NMB enabled international payments have not been totally discontinued… and the rest that follows is the bad news.
So, currently, the NMB Visa Debit Card allows you to make international transactions i.e. $20 max on ATM and $50 max for POS and/or online payments. This current Visa Card works without the need of one to prefund it using USD or any other currency. However, from the 7th of November 2017, this particular card will cease to work for any international transaction. It, in fact, will be reduced to making local payments just like any other ZimSwitch enabled the debit card.
If you, however, wish to continue using an NMB card internationally, you’d need to apply for a new one, a different one to be precise and this one is called the NMB Prefunded Visa Card.
The NMB Prefunded Visa Card as the name suggests will only work if prefunded with USD or any other currency (I’m hoping each time I mention the word currency you are not by any means tempted to believe that bond notes are included). The transaction limits are by far higher than those of the previous one but I didn’t put that under good news for a reason because where will we get the USD???
Nonetheless, the maximum limit for cash withdrawals on the NMB Prefunded Visa Card with be $500 per day and $5000 per day for swipe and/or online payments.
To get the NMB Prefunded Visa Card, visit an NMB branch and fill in the application form. Make sure to take with you the following documents:
- passport sized photos
- copy of your ID
- proof of income
- proof of residence
It will take up to 2 weeks to process your application and thereafter, you can go collect your NMB Prefunded Visa Card.
