The Society for Worldwide Interbank Financial Telecommunication (SWIFT) provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.
- The $10 000.00 cap has been uplifted and customers and non customers alike can nowapply to transfer amounts above the previous threshold of $10 000.00
- Commission has been revised as follows: 1% of the TT amount , with $50 minimum and $200 as maximum per transaction
- Zimtrade Surcharge 0.1% of the TT amount(charged on a minimum transaction amount of $1 000.00 and there is no maximum)
- Foreign Bank Charges remain at $35.00 but with the customer having an option to pay upfront or charge the beneficiary
- For TT’s with amounts above $10 000.00, the proper documentation in the form of invoices, Bills of entry etc are required