NBS Bank offering USD500 for school fees and professional exam fees at auction rate

National Building Society (NBS) Bank has a facility that is offering up to USD500 for school fees at the auction rate. This program is being done through the Bank’s Bureau de Change licence and here’s how you can get started.

First, you’ll need to bring an invoice from your child’s school (or for your own fees for that matter). The facility is only for paying of fees outside Zimbabwe including professional examinations like ACCA which are popular with Zimbabweans. You don’t have to be an NBS account holder to take advantage of this service.

There is, of course, an application process for this and according to NBS Bank, the turnaround time can be as little as 24-hours. There will be some commissions with this facility as with all the bureaux de change outlets that sell USD to the public.

At this point, we are not sure if there is another bank that offers something similar to NBS Bank’s USD school fees facility. However, it stands to reason that if one bank can do this then there will surely be others. After all, most banks have a Bureau de Change Licence.

You can also try with the local bureaux de change and see if they are doing the same. You can find a list of all those that are registered by the Reserve Bank of Zimbabwe with the link below:

All the bureaux de change firms where you can buy USD at the Auction Rate

You should also check

• NBS launches “Instant Cash” domestic remittance service
• Here’s something from NBS that other banks can take home…