There are now a few banks in Zimbabwe with accounts specifically for the youth and students. Check out the top three banks you can open student/youth accounts with and what they have to offer.
1. P.O.S.B Youth Account
The POSB Youth account is an exciting, affordable and easy to open account tailor-made for the youth. A debit (ATM) card is issued at account opening, so you can transact through our ATM’s and Zimswitch ATMs
- No monthly service fee.
- No minimum balance
- Free Youth debit (ATM) card.
- Unlimited withdrawals
- Access to POSB ATMs and those on Zimswitch
- Youth card can be used to purchase goods in retail outlets displaying the Zimswitch logo
- Cellphone banking via CellBank (buy airtime, check your balance, transfer funds and so much more)
Requirements for applying for a card are as follows:
- Original and copy of National ID/valid passport.
- To open your Youth Account, visit your nearest POSB Branch
2. ZB Bank Student Account
-ZB Bank makes banking great fun with a wealth of benefits for students.
-By opening up a student ZB Sta$h bank account you are able to start and grow your own stash!
-This bank account gives you freedom to save, manage, transfer, deposit, withdraw, invest and earn rewards! While you grow- so does your sta$h.
-This account makes banking simple for all students.
-The great advantage of having a ZB bank student account is that it provides E-wallet banking, it link your phone number and your bank account so that you can top up your phone, do ecocash transfers to your account.
Requirements for Opening a Sta$h Bank Account
- Operates as an ordinary savings account with zero deposit on opening of account and minimal charges.
- Proof of identity, proof of residence, and 2 passport size photos will be required for account opening. Anyone above 18 years of age needs proof of studentship.
- Once account is opened the student will be issued a student debit card.
3. Steward Bank’s iStudent Account
-It comes with no monthly service fees
-It links to your ecocash wallet
-Access to phones and iPads on credit
-Free SMS and discounted airtime and data
-offers career guidance and mentorship for Steward Bank Graduate Training Program
Account Opening Requirements
A valid proof of admission or registration at your tertiary education institution
- A metal or plastic Zimbabwean Identity Document or a valid passport.
- Proof of residence (e.g. university acceptance letter or University resident confirmation or letter from the Student representative council confirming your current residence.
- Initial Deposit of $20.00.
4. CBZ CashPlus Teen/Junior Accounts
1. Cashplus Teen Account
The CashPlus Teen Account is a savings account for teenagers to save funds for their daily needs and encourage them to understand and assimilate a saving culture. The product encompasses the following features:
-Four free cash withdrawals per month.
-ATM debit card
2. Cashplus Junior Account
-The CashPlus Junior Account is a savings account for children under the age of 12 which is operated by the parent/guardian. Regular deposits are to be made into the account by the parent/guardian
-Minimum investment period of six months.
-One free withdrawal per month from the seventh month.