ZiG New Currency FAQ’s

1. What will happen to the funds that I have in my account?

Your ZWL funds have been converted to ZiG currency at the prevailing rate. You are
now able to access your funds on our banking platforms.

2. Does my account have withdrawal limits for ZiG?

Yes, gazetted limits apply. These will be shared on our website and displayed in our
branches.

3. What will happen when I transact on POS machines?

The conversion of currencies from ZWL to ZiG on our POS machines has been
successful.
Your transactions will settle in ZiG currency.

4. Am I able to make ZIPIT transactions?

Yes, you are able to make ZIPIT transactions which will settle in ZiG currency.

5. Do I still have access to my USD account?

Yes, you can access your funds in our branches, registered agents and on our digital
platforms.
6. What happens to my loan ZWL balances?
Your ZWL balances have been debased and will be payable in ZiG with immediate
effect.

7. Are ZiG notes and coins available from the bank?

The ZiG notes and coins will start circulating in the economy on 30 April 2024.

8. Can I still make use of ZWL bank notes until 21 April 2024?
As advised in the Monetary Policy Statement and Statutory Instrument 60 of 2024,
you have a transitional period of up to 21 days to convert your ZWL notes and coins
to ZiG. Accordingly, the ZWL notes and coins will continue to be used for
transactional purposes at the ZiG: ZWL conversion rate of 2498.7242 applicable on
the 8th of April 2024 within the 21-day transitional period.

9. What rate was used to convert ZWL to ZiG?

The exchange rate of ZWL2,498.7242:ZiG1 was used to convert ZWL balances.

10. What is the exchange rate of ZiG to USD?

The opening rate of ZiG13.56:USD1 communicated by the Central Bank shall apply.
The future value of the exchange rate will be influenced by the International price of
 gold as published by the London Bullion Market, inflation differentials and other
domestic factors and will be determined on the Willing Buyer Willing Seller Market.

11. How do I get more information?

Contact our Customer Service Teams on the following touchpoints:

Toll Free: 0808 8888

Email: customerservice@stewardbank.co.zw
WhatsApp: +263 772 191 191