diaspora account

Diaspora account

The CDHIB Diaspora Account is a transactional and savings foreign currency account which is opened by Malawians who live in the Diaspora (abroad). The account can be opened and maintained in USD, Euro, Rand and Pound.

Account features

  • The opening and minimum account  balance is: $1,000, €1,000, £ 1,000, R10,000
  • Minimum balance to earn interest : $2 000, £2 000, €2 000 and R 20 000
  • Interest payment of GBP 0.15%, USD 0.15%, EUR 0.10% and ZAR 2% paid per quarter

Account Benefits

  • No ledger fees if the account balance is above $1000 or equivalent
  • Free internal standing orders
  • Freely transferable to any destination in the world without translation. (Documentation required in line with exchange control regulations.)
  • No incoming funds charge
  • Free cash withdrawal subject to notice and availability
  • Conversion to local currency at bank’s mid-rate
  • The account gives you access to other CDHIB services including: Personal Loans (up to 70% of account balance and repayable within 12 months), Investment Accounts, Prime Investors Account, Personal Overdraft and investment advice. Loan accounts will be secured by the Diaspora Account balance.
  • Free access to account balance, statement and funds transfer through CDHIB Online

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