Why is Stanchart Zambia limiting ATM withdrawal but charging more?

Dear Editor,

I would appreciate if my mail is published in your most popular online publication so that someone could clearly explain my problem and probably others could benefit from the same information. This has been bothering me ever since Stanchart Zambia started charging extra costs on ATM withdraw.
I don’t understand why Stanchart  Zambia should limit the number of times on a savings account that a customer should withdraw using an ATM (i.e. four times/month) and charge K20 for any extra withdraw in addition to regular K5 ATM withdraw fee. Has BOZ approved such charges? Is this legal? Apparently I have only seen this at Stanchart. I see this as daylight robbery which is disadvantaging hard working men and women of their well deserved earnings
Disappointed Customer
Natasha G

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