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Last week, government surprisingly announced a US$75 allowance for civil servants and pensioners to cushion them against the risen standard of living. The allowance will not be handed out as cash but as electronic US dollars.
In light of this, civil servants and pensioners were asked to open Nostro accounts with their banks to receive the allowance. But the thing is, banks require customers to activate the Nostro account with a US dollar deposit which some civil servants don’t have.
FBC, CBZ & Agribank kicks in
The three banks have decided to lighten the financial burden on civil servants by opening Nostro accounts free of initial deposit (zero deposit).
We advise our valued FBC bank and Building Society clients that we are opening Bistro Foreign Currency Accounts for existing clients who are pensioners and civil servants to access the Covid-19 Forex Allowance.
For your convenience, you therefore do not need to visit our branches. Account numbers will be availed in due course.
All civil I account holders with Agribank automatically qualify to open a Bistro FCA account. It’s Zero deposit. It’s Zero charges!!!
Visit our nearest Agribank branch to regularize.
To make it easy for us civil servants to receive our US$75 and pensioners to receive US$30, CBZ has already opened a zero deposit Nostro Account for us. We just dial *230# to check our account number.