The terms ‘I; ‘we; ‘my; ‘our’ refer to the customer(s) and ‘the Bank, you & your’ refer to CBZ Bank Limited.



I/We hereby authorize and request you to:


Open a current/savings account in my/our name and at any time subse­quently, to open further accounts as I/We may direct. I/We understand and agree that you may at your discretion and without giving any rea­ son thereto decline to accept my/our application . I/We also understand that until such time that you shall inform me/us in writing of the relevant account number, no account relationship is established with you.


  1. Honour such cheques or other orders which may be drawn on the said account provided such cheques or orders are signed by me/us and to debit such cheques or orders to the said account whether such account be for the time being in credit or overdrawn or may become overdrawn in consequence of such debit without prejudice to your right to refuse to allow any overdraft or increase of overdraft and in consideration, I/We agree;
    a. All cheque books will be collected in person. To assume full responsi­bility for the genuineness, correctness, and validity of all endorsements appearing on all cheques, orders, bills, notes, negotiable instruments and receipts or other documents deposited in my/our account in the same vein, I/We assume full responsibility for the safeguarding of my cheque book so that unauthorised persons are unable to gain access
    to it; neglect of this precaution may be a ground for any consequential loss being charged to my/our account; in the event my/our cheque (or any cheque(s)) are mislaid, lost or stolen, I/We will immediately notify the Bank. In this regard, I/We will report any discrepancy in the number of cheques received to the Bank within seven (7) working days of hav­ing received the said cheque book. In the event that an account re­ mains inactive or dormant for such period of time as the Bank my de­cide, the Bank reserves the right to impose such conditions in relation to further operation of my/our account(s) in its sole and absolute discretion. The Bank may at any time at its sole and absolute discretion and upon written notice to me/us add and/change one or more of these Terms & Conditions which shall take effect from time of posting of the said notice. No failure or delay by the Bank in exercising any right or op­tion under these Terms & Conditions shall operate as a waiver thereof
    or limit, prejudice or impair the Bank’s right to take any action or to exer­cise its right against me/us or render the Bank responsible for any loss or damage arising therefrom.
    b.  To be responsible for the repayment of any overdraft with interest
    and to comply and be bound by the Bank’s rules for the conduct of
    a current/savings account which may be in force from time to time, and where this account is a joint account, our liability hereunder shall be joint and several;
    c. To free the Bank from any responsibility for any loss or damage to
    funds deposited with it dueto any future government order, law, levy, tax, embargo, moratorium, exchange restriction or any other cause be­yond our control, and that any of all funds standing to the credit of the account are payable at any of the Bank’s branches, on demand only and only in such local currency or at your option, in such local currency as may then be in local circulation;
    d. To be bound by any notification of change in conditions governing
    the account directed to my/our last known address and any notice or letter sent to my/our last known address shall be considered as duly de­livered and received by us/me at the time it will be delivered in the ord­inary course of post;
    e. That if a cheque credited to my/our individual current/savings ac­
    count is returned dishonoured, it may be transmitted to us/me through our last known address either by the bearer or post;
    f. That the Bank may at any time without assigning any reason with at least (7) seven days’ notice to me/us, close my account whether it be in debit or cred it;
    g. That the Bank will accept no liability whatsoever for funds handed to
    Bank’s representative outside banking hours or outside of the Banks’ premises;
    h. That the Bank is under no obligation to honour any cheques/orders
    drawn on this account unless there are sufficient funds in the account to cover the value of the said cheques/orders and I/We
    understand and agree that any such cheque/order may be returned to me/us unpaid but if paid, I am/we are obliged to repay the Bank on demand. The Bank reserves the right to exercise discretion in confirming cheques/orders before payment and without responsibility/liability to proceed/withhold payment of such cheque(s)/order(s);
    i. That I/We will make any disagreements with entries on my Bank state­
    ments known to the Bank within 14 days of the dispatch of the Bank statement. Failing receipt by the Bank of a notice of disagreements of the entries within 14days from the day of dispatch of my Bank statement, it will be assumed by the Bank that the statement as rendered is correct;
    j. That any sum standing to credit of the current/savings account shall bear interest charges at the rate fixed by the Bank from time to time. That the Bank is authorised to debit from the account the usual Bank charges, interest, commissions and any service charges set by the Bank from time to time;
    k. That in the event that the Bank receives from myself/us ambiguous or
    confiicting instructions in connection with the account, the Bank may in its absolute discretion and without any liability act or decline to act as the Bank deems fit .
    I. That the Bank is authorised to accept for safe keeping or for collection or for any other purpose any securities or other property deposited with the Bank or received from or on behalf of myself any of us/all of us and to release, deliver or give up any such securities or property so accepted against written instructions signed in the manner described herein;
    m. In the event of death of any one or more of us, the credit balance at that date on our account together with any security or property depos­ ited with the Bank relating to such joint account shall be held to the or­ der of the remaining account holder(s) but subject to any claim, right, lien, charge, pledge, set-off, howsoever arising which the Bank may have in respect of the liability(ies) of any of the account holders including
    the deceased.
  2. I/We also agree that in addition to any general lien or similar right to which you as bankers may be entitled by law, you may, at any time with­ out notice to me/us, combine or consolidate all or any of my/our ac­ counts without liabilities to you and set -off or transfer any sums or sums standing to the credit of anyone or more of such accounts of any other credits, be it cash, cheques, valuables, deposits, securities, nego­tiable instruments or other assets belonging to me/us with you in or towards satisfaction of any of my/our liabilities to you or any other ac­ count or in any other respect whether such liabilities be actual or contingent, primary or collateral and several or joint.
  3. I/We also agree to the standards of confidentiality and security afforded to any information regarding me/us and my/our accounts and/or trans­ actions to be reposed in the customer information database. I/We agree to the uses to which these items of information will be put in the con­ duct of business with the CBZ group or any of their affiliates/agents/ad­visers/regulators/assignees/partners or by my/our guarantor or third party service provider.
  4. I/We agree that cash withdrawals of any foreign currency shall be subjected at all times to availability.
  5. The Bank will not be liable to me/us for any loss, indirect or consequen­tial, incurred by not acting on my/our instructions, such failure being caused by force majeure, acts beyond your reasonable control.
  6. The Bank can give you a new account number and/or transfer your ac­ count to another branch if the Bank closes or combines
  7. If I/We are United States of America Resident, Citizen or holder of Perma­nent Resident Card (Green Card), I/We hereby consent to CBZ Holdings or any of its affiliates (including branches) (collectively” the Bank”) to share my/our information with domestic or overseas regulators or tax authorities where necessary to establish my/our tax liability in any juris­diction. Where required by domestic or overseas regulators or tax au­thorities, I/We consent and agree that the Bank may withhold from my/ our account(s) such amounts as may be required according to applica­ble laws, regulations and


I/We agree that in the use of the Transaction Alerts, SMS Banking services and VISA/ATM Debit Card, the following additional terms and conditions will apply in addition to the general terms and conditions.

  1. It is my/our responsibility to safeguard my/our mobile telephone hand­ set and/or card(s) and keep confidential information, including but not restricted to security procedures, codes, and personal identifiers secret in order to prevent unauthorised and fraudulent use. Loss of the hand­ set or card and /or suspicion of tampering must be reported immediate­ ly to the
  2. I am responsible for ensuring that the mobile phone number which I have provided is correct and that if it changes or my mobile phone is lost or stolen I will notify the Bank immediately
  3. I hereby indemnify CBZ Bank against any losses, claims, damages which I may suffer as a result of the failure of my mobile phone, the Transaction Alert service being unavailable for any reason, unlawful or unauthorised access to my mobile phone by another person(s), delays in sending the alert or for any direct or indirect losses that could not reasonably have been
  4. I authorise CBZ Bank to send any marketing messages on the e-mail ad­ dress I have provided
  5. Any verbal report of loss or suspicion of tampering must be followed within 3 days, by a written notice to the The Bank will not be liable for any loss occurring from use of the service by unauthorised persons before such notification .
  6. The Bank may charge a replacement levy for the issuance of a new card
  7. In the event that I/We wish to have an additional card for my/our account. I/We shall sign the mandate to indicate the additional user who will also be one of the account holders and shall sign the mandate to indicate same.
  8. The Bank may cancel or invalidate a card without assigning a reason but I/We can voluntarily cancel a card with the necessary documentation and a confirmation in writing within 3 days of any verbal instruction to cancel.
  9. The Bank reserves the right to destroy any debit cards not collected after 6 weeks and cheque books not collected after 14 days of request.
  10. Text message/telephone calls between us may be recorded/monitored so that you can have records of our transactions and maintain service quality.
  11. You are permitted to act on any instructions given by an authorised per­ son provided the security procedures are followed. However, you may refuse to act on any instruction if it is unclear or might be in breach of a law, regulation or contractual agreement between us.
  12. Any cards issued for this/these service (s) is/ are the property of the Bank and shall be surrendered upon first demand; the rights and use of the card (s) are not transferable in any form.
  13. I/We agree to indemnify you against any loss, damage or liability which might occur as a result of non-compliance with the above and I/we shall be solely or jointly liable for any negligence, misuse, dishonesty or unlawful use whatsoever of the service provided herewith.
  14. I/We agree to the use and disclosure of my/our information as set out in this notification.
  15. The Bank, its officers and servants, shall not be responsible or account­ able to the Cardholder for any loss or damage, actual or contingent, aris­ing from or out of the use of the card and/or the card facilities (it being recorded that any electronically initiated third party payments are not necessarily effected on the same day as the transaction date), inter­ruption, failure or unavailability of the card facilities, the loss or destruc­tion of any data, the failure, interruption or distortion of communication links, any delay in acting on request made or instruction given or in ef­fecting any transaction initiated through the use of the card or any fail­ure to do so (whether or not such delay or failure is notified to the Card holder), the reliance by any person on any incorrect, incomplete or inac­curate information or data obtained through the use of the card, any in­dustrial action, act of God or other circumstances not reasonably within the Bank’s control provided that the provisions of this paragraph shall apply in respect of any loss or damage proved to have been caused by the fraudulent act of any office or servant of the Bank.


The Customer hereby consents to the disclosure by the Bank and/or any of its officers or employees for any purpose of any information concerning the cus­ tomer including without limitation, information relating to its business, its ac­ counts held with the Bank or another Group Member, or its relationship with Bank or another Group Member to any of the following :

  1. Any office or branch of the Bank or another CBZ Group member;
  2. Any regulatory, supervisory authority with jurisdiction over the Bank or another CBZ Group member
  3. Any person to whom the Bank is required or authorised by law or court order to make such disclosure;
  4. Any Bank or financial institution with which the customer has or pur­ ports to have dealings


Please note that the Bank, licensed under the Banking Act, is required to en­ sure that its business is not such that it may bring Zimbabwe into disrepute or damage its standing as a financial centre and therefore is bound to comply with such constraints as the Central Bank of Zimbabwe may require.


The Bank is authorised to act on banking instructions sent by me/us in rela­tion to these accounts by facsimile, e-mail, internet or unless otherwise stat­ ed by me/us. I/we hereby expressly authorise the Bank to send statements and/or advices in relation to my/our accounts to the contact and/or email ad dress provided by me/us by way of fax, e-mail and internet.

All documents or information regarding my/our account or transactions with the Bank will be binding if they are in the form of data message or accessible in a form which they may be read, stored and retrieved whether electronically or as a computer print out for subsequent reference.

Inconsideration of the Bank so doing, I/We hereby release, indemnify and hold the Bank harm less from and against all actions, suits, proceedings, costs (in­cluding legal costs). claims, demands, charges, expenses, losses and/or liabili­ties arising therefrom provided the Bank has not been negligent, has acted in good faith and in accordance with my/our written instructions. The Bank has no obligation, duty or liability to the customer on contract, tort or whatsoever, for breach of statutory duty or otherwise in respect of statements or balances advised via SMS or e-statements.