Getting kwachas on WE

[fdemacar]

Hi there,
As I am landing in Lusaka on a Saturday afternoon in Lusaka and departing on the Great North on Sunday I need to get kwachas on that day. Here are the results on my investigation (obviously not cross checked on the field).

Possibilities:
ATM:
Withdraw limited in amount to around 2,000,000 per day (esp. for self drivers that land in Lusaka) with mostly Visa card.
Mastercard/Maestro/Cirrhus available in 6 ATM from First National Bank in Lusaka (search in http://www.mastercard.us/cardholder-...m-locator.html). One of these is near Arcade Shopping Centre (Acacia park in Thabo Mbeki).

Bank
Zanaco Airport branch opened till 22:00 on Saturday. Rates confirmed same in Lusaka and Mpika.
Several banks opened till 18:00 on Sat in Manda Hill (Standard Chartered, First National
Standard Chartered Manda Hill opened on Sundays from 11:00 till 18:00
I attach a list of bank branches compiled by Bank of Zambia.

Bureaux de changes
Requested info from Stero in Manda Hill but no anwer


Rates
Rates published in a bank are valid for small transaction. Above around USD 5,000 they need to refer to their FX trading desk for a rate and thus negotiation always possible esp. above that limit (group purchase if travelling with friends). Zanaco sells their currency in cash with around 3.15% margin compared to median price and is fairly consistent through all currencies (no need to change from ZAR or EUR to USD in your country before going to ZMK for example in main cities).
First National slightly better than Zanaco so always profitable to shop around a bit. No info yet on other. I plan to call them shortly before departure when I leave. Usually spreads are slightly enlarged (client loses) when currency in heavy demand (like WE), at least in Europe.
I have not seen rates published online for BdC but qre supposed to be slightly better than banks



I hope it cqn help a bit and if someone has additional information they are more than welcome.
Frederic

[Francois Visagie]

Thanks for this information, Frederic. I also haven't been able to visit again after the changes, so it would be great if you could report back with your experiences in this regard.

[fdemacar]

I will be there on the 11th of Aug. I hope to be in a position to post.

[fdemacar]

Hi there,
The result of the jury on the field is:
We arrived a bit later than expected on Saturday (17:30).
2 banks still open in Manda Hill.

Zanaco: closed at 14:30 rate 4825
Standard chartered opened till 18:00 rate 4851 (where we changed)
Stero: opened till 18:00 till 18:00 rate 4880 (saw afterwards).

Last 2 being also opened on Sunday (10:00 to 14:00).

Found out it was still possible to pay in USD in many places.
Kind regards

[Pierre77N]

Thanks Fred,
But why change USD rather than withdraw ZMK from an ATM?
The limit of 2M kwacha is not per day, but per transaction. You can re-insert your card 3 or 4 times, you get 2M each time.
Looking forward reading more from your trip.
:-)

[eric60260]

Thanks Fred,
But why change USD rather than withdraw ZMK from an ATM?
The limit of 2M kwacha is not per day, but per transaction. You can re-insert your card 3 or 4 times, you get 2M each time.
Looking forward reading more from your trip.
:-)

Hello,

Seems to depend upon the place: in Mongu and Lusaka I could draw 2 x 2,000,000 ZKW, in L'Stone - Barclays, the shoping center approx 6 km from the Falls, opposite to Mariott Courtyard, only 3 x ZKW 600,000 , then I had to try my luck with another card (which worked).

That's Africa too...

[fdemacar]

Hi Pierre,
We changed cash for 2 reasons:
- My fellow traveller works in a bank in Luxembourg and can change without fees at very near the mid rate.
- As mentioned Africa is Africa I did not want to take unnecessary risks for the funding of my trip. Rule change can happen.
- I have mostly mastercards (valid in only 6 ATM in Zambia)

I will post shortly a trip report.
Have a sweet WE
Frederic

[Francois Visagie]

Thanks for the update, Frederic.

Hope the rest of your trip is safe and great!