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Payment Instructions

General instructions for international payments to banks in ZAMBIA:

Overview:

Information provided by the Beneficiary: Remitter should obtain all required bank information from the Beneficiary (e.g. SWIFT BIC, account number, and beneficiary bank address). For additional information, please refer to: www.boz.zm.

Country Requirements/Restrictions:

Account Restrictions: Non-residents can hold local currency accounts.

Payment Formatting Rules for ZMW:

• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Use of initials can delay receipt of funds by the beneficiary.
• Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials) and full address (recommended). Use of initials may delay receipt of funds by the beneficiary. There are no specific beneficiary account number requirements in this country.
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier (where required), full name, and address of the beneficiary bank. There are no specific bank clearing codes for this country for cross-border payments. SWIFT BIC is key to routing payments to the beneficiary bank. For payments to Barclays Bank Zambia, a 6-digit branch code must be provided. Sample format: XX YY ZZ (XX represents bank code; YY represents area code; ZZ represents bank branch code). SWIFT BIC is 8 or 11 alphanumeric characters: xxxxZMxx or xxxxZMxxxxx.
• Reason for Payment (SWIFT MT103 F70): Purpose of payment is recommended.

Additional Information: Most banks are also open the first and last Saturdays of the month for domestic services. Value dates are generally within 48 hours of the spot deal date.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of ABSA BANK ZAMBIA PLC for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from ABSA BANK ZAMBIA PLC, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Other Branches

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.