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LIMIT ON OVER-THE-COUNTER CASH AND CHEQUE TRANSACTIONS

  • March 23, 2017
  • Posted by: Diana Ngula
  • Category: News
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The National Pension Scheme Authority wishes to announce that following the revision of the Item Value Limit on cheques by the Bank of Zambia, that takes effect on 14th April 2017, NAPSA will only be accepting cash and cheque payments of up to five thousand kwacha (K5,000) and twenty five thousand (K25,000) respectively.

This is in line with the government’s decision to scale up the use of electronic channels to settle payments. In this regard, all NAPSA payment systems will be configured accordingly.

To facilitate a smooth transition, the proposed changes will take effect on 1st April 2017 at NAPSA.

Please be further advised that any attempt to circumvent this requirement by the Bank of Zambia by splitting cheques is illegal and will attract serious punitive sanctions from the regulators.

For more information please contact Customer Services on: +260211395677
Toll free number: 677, E-mail: info@napsarestore3.azurewebsites.net or visit any NAPSA office near you.

 

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