Offshore Finance

A facility whereby exporters and importers access foreign currency in denominated currencies to finance working capital requirements.

Features

• Funds advanced are in foreign currency.
• Funds are for working capital.
• Repayment is in foreign currency.
• Normal lending criteria applies.
• Commission is charged.

Benefits
Customer pays interest at rates prevailing in the foreign country, which are competitive.

Transfer Products

Mail Transfers
This is a transfer of funds by mail to an account at another branch outside the local free clearing area.

Features

• Used for transfers in Zimbabwe only.
• Specific forms are utilized.
• Details of beneficiary name, account number, address and telephone should be provided.
• Commission is charged.

Withdrawal Conditions
Funds are available on demand

Benefits

• Convenience - there is no need to travel to beneficiary’s locality to effect payment
• Safety - Customer does not have to post cash or a cheque.
• Availability - Available to both customers and non-customers
  

Foreign Currency Drafts
These are cheques drawn on Foreign Banks and issued in various amounts for payments.
 

Features

• Signed by two authorised Bank signatories
• Can be issued in currency of the customer’s choice
• Commission Fee

Benefits

• Beneficiary may cash it or deposit it to an account
• Easily refundable or replaced if lost or stolen
• Widely accepted by most banks worldwide

Travellers Cheques

These are pre-denominated cheques in various currencies drawn on various banks in different countries.  The customer signs on the face of each cheque upon issue and again when he requires to obtain value.

Benefits

• Widely accepted
• Convenient - traveller does not need to carry large amounts of cash
• Safe - value can only be obtained when cheque is countersigned by the holder
• May be cashed or deposited to a bank account
• Easily refunded if lost or stolen
  

Foreign Currency Dealing

Agribank is an Authorized Dealer in Foreign currencies of Zimbabwe’s major trading partners as listed on the rate board elsewhere on this site. Phone our Treasury or approach any of our countrywide branches for any foreign currency transaction or remittance.

International Banking Charges

Download Application Forms