MTAs
provide fast, confidential service
Money Transfer Agencies licensed by the
Reserve Bank of Zimbabwe have agreements
with various international money transfer
companies and operate within the regulations
laid down by the central bank to safeguard
those who make use of them.
They are expected to keep adequate floats
of both local and foreign currency to enable
them to make swift payment to the local
recipients of money sent through them from
abroad. The Reserve Bank expects the entire
process of sending money from abroad to
a recipient in Zimbabwe to take no more
than 24 hours.
The choice of whether to be paid in local
or foreign currency rests with the recipient.
If he or she decides to be paid in Zimbabwe
dollars then the ruling Currency Exchange
auction rate or the Diaspora floor price
of $5 200 to the United States dollar, whichever
is higher ...
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