Check Out What You Are Charged For Using NMB Bank’s ‘KaGwenya’ POS Device And What It Takes To Get One

Yesterday we broke the news about NMB Bank’s portable Point Of Sale device, called KaGwenya but we didn’t let you know about what it takes to get it. In addition to that, you would also want to know the charges for using KaGwenya. Here are requirements and charges for using KaGwenya;

SOLETRADER SME CURRENT ACCOUNT

Copy of ID

2 Passport size photos

Proof of Residence ( ZESA/ Council Bill/ Telone Bill)

Bill should be not more than 6months old. If the utility bill is not in the applicant’s name, the client must also attach an Affidavit

commissioned by Police or Commissioner of Oaths If the area is still new and bills are not yet in place, an applicant must attach a recent

Letter from Cooperative or Land developer with the developer’s stamp

If the bill is in parent’s name, attach a copy of birth certificate

A valid Business license in the applicant’s name OR Proof of Trading like two (2 )receipts from
Stock Suppliers (i)Licences can be Council licenses/ Vendors licenses / Cross boarders licenses, Trade
bodies licenses. (ii) If an applicant does not have a valid business license, he must attach proof of trade like 2 receipts/invoices from suppliers

REGISTERED COMPANIES (PRIVATE LIMITED OR/ PRIVATE BUSINESS CORPORATION (PBC)

Memorandum and Articles of Association

Certificate of Incorporation

CR14

Tax Clearance

Bank statements from current bankers (this can be waived)

IDs of directors

Directors’ and Signatories Proof of Residence ( E.G Utility bill from ZESA / City council/Telone
not more than 6months old)

2 Passport size photos for each director and signatory

Initial deposit $100. To be deposited when the account is opened

APPLICABLE BANK CHARGES

Monthly service fees $10.00
Point of Sale (Swipe) charges-1% of the transaction charges with a minimum of $10
Deposits/ Credits-No charge
Cash Withdrawal Fees-1.25% of the Encashed amount. No minimum
Visa Debit card Fee-$10
Minimum Balance-$25