ZAFIKA MONEY TRANSFER
Product Name
Zafika
Product Category
Money Transfer
Product Description
It’s a money transfer service exclusive to NCF. Money is sent from one point to another using NCF online real time network, operated within Malawi only and can be accessed in any NCF outlet strategically positioned at City Centre and Blantyre CBD.
Product Objective
Accord staff an opportunity to cross sell products to people using this service.
To raise non-interest income through charges levied on the service.
Target Market: General public
Charges: 5% with a minimum of MK1,000
Requirements
Valid Identity. National ID, passport or valid driving license or Malawi Electoral Commission registration card or Test question in absence of valid ID.
- One does not need to have an account with the MFI to access this service
- Special approval from Finance & Administration Manager must be sought for transactions of more than MK1,000,000.00
- Receiver must have a Receiver Identification Number (RIN)
VALUE ADDED SERVICES
Service Name: Bill Payment
Service Description: The selling of various third party products and service using NCF counters.
Product Objective:
To raise non – interest income through commissions.
To mobilize short term deposits
Services Offered
ESCOM Bill Payments (Post-paid)
Malawi Housing Rental Payments
Malawi Revenue Authority Taxes
Immigration payments
Blantyre City Assembly & Lilongwe City Assembly payments
Pricing basis: No cost to the customer
Nature of placement: Open to the general Public