National Bank of Malawi
How to open a personal account with NBM, which account fits you, what it costs, and how to start mobile banking with Mo626 Digital+ and *626#.
- No monthly fee on personal savings and current
- Open online or at a branch
- Help line 626, free
Quick answer: Visit any NBM service centre with your National ID, a recent utility bill and money for the minimum balance (MK5,000 for an ordinary savings account), or apply online at smartonboard.natbank.co.mw. Personal savings and current accounts have no monthly fee. Then register for the Mo626 Digital+ app or dial *626#.
Three ways to open an NBM account
Open an account at a branch
NBM calls its branches service centres. The bank’s FAQ says to bring your National ID, a recent utility bill and the money to open the account.
Pick the account
Most people start with an ordinary savings or a personal current account. Compare them in the account cards below.
Get the form (optional)
You can fill the form at the branch, or print the Personal Account Opening Application Form first (there are separate forms for Student Serve and Fiesta Save).
Bring your documents
See the checklist. Take the originals; the branch keeps copies.
Deposit and ask for e-services
Pay in at least the minimum balance. The same form lets you tick Mo626ice, Mo626 Digital+, a Visa debit card, BankNet360 and e-statements, so you can sign up for all of them in one visit.
Apply online with Smart Onboard
NBM’s online portal lists these personal accounts: Current Account, Savings Ordinary, Savings Special Saver, Minors/ITF, Mlimi, Student Serve, Step Up Professional (current and savings), Diaspora Current, Diaspora Savings and Foreign Currency Denominated.
How to apply online
- Open smartonboard.natbank.co.mw (or tap Open an account online).
- Tap Retail Accounts (or Students Account) and choose your account.
- Fill in the application and follow the prompts. Have your ID and proof of address ready.
- Use Track your application on the same site to follow it.
NBM does not publish what the online form asks for step by step, or how long approval takes, so check with the bank (call 626) if you get stuck.
Open a diaspora account
For Malawians living or working outside Malawi, and for clubs and societies of Malawian origin abroad. You can hold kwacha and foreign currency accounts.
What NBM asks for
- The completed Diaspora Account Opening Application Form (or apply on Smart Onboard).
- A copy of your valid passport. The FAQ also asks for the pages showing your exit from Malawi and entry into your country of residence.
- Proof of where you live: a Google map, a utility bill or a bank statement.
- Details of a next of kin in Malawi with an NBM account, or a referee with an NBM account. If you have neither, have your documents certified by a notary public or the embassy.
- Email the documents to the service centre you choose (addresses on NBM’s contacts page).
Diaspora transactional accounts have no monthly fee, internet banking is free for them, and the kwacha diaspora savings account earns 2% above the ordinary savings rate.
Sending money home? See what your dollars, pounds or rand are worth in kwacha at today’s official Reserve Bank of Malawi rate with our kwacha converter. The bank’s own exchange rate and fees decide what actually arrives.
Which NBM account is right for you?
Every personal account NBM lists, with the numbers it publishes. Interest rates are “subject to review”; monthly fees are from the tariff effective 20 February 2026.
Everyday accounts
Savings Account
For adults, minors and organisations who want to save and still use ATMs and cards.
- Minimum balance
- MK5,000
- Interest
- 3% a year, paid yearly
- Monthly fee
- Free
- Card
- Visa debit, card fee applies
Rules: do not overdraw or go below MK5,000. Withdraw at ATMs, shop tills (POS) or with a withdrawal slip.
Special Savers Account
For salaried workers or business owners who want a lower minimum balance.
- Minimum balance
- MK1,000 (FAQ says K2,000; check with the bank)
- Interest
- 1% a year
- Monthly fee
- Check with the bank
- Costs
- E-service and ATM card fees
Documents: account opening form plus ID and proof of address (“KYC documentation as advised by the bank”).
Personal Current Account
For people who pay by cheque or may need an overdraft.
- Minimum balance
- None
- Monthly fee
- Free
- Cheque book
- MK32,222 for 50 leaves
- Overdraft
- For customers who qualify
Costs: e-service fee, cheque book and ATM card fee. NBM also has Gold and Platinum current accounts with a fee; see the tariff.
Student Serve Account
For students aged 18 or older at a recognised college or university.
- Minimum balance
- K500 (product page and NBM’s Facebook page; the FAQ says K1,000)
- Interest
- 2.5% a year
- Monthly fee
- Free
- Card
- Free Visa debit card
Documents: account opening form, student ID, signature or thumbprint, utility bill and a reference letter from your school. You can also apply online under Students Account.
Saving for a goal
Fiesta Save Account
For saving towards a big event such as a wedding or a holiday.
- To open
- MK20,000
- Monthly deposit
- At least MK10,000
- Interest
- 6% above ordinary savings
- Monthly fee
- None
Rules: withdrawals are quarterly, over the counter only, not through electronic channels. Can be used as security for a loan. Has its own opening form.
ITF Savings Account (for a child)
For parents saving for a child until age 18, and for administrators keeping funds left for minors.
- Minimum balance
- MWK10,000
- Interest
- Paid once a year
- Monthly fee
- Free
- Hand-over
- At age 18
Documents: account opening form, copy of National ID, signature or thumbprint, utility bill, map to your home, and the child’s birth certificate or other proof of date of birth. The parent or guardian signs on the account. The money does not become part of the parent’s estate if the parent dies.
Fixed Term Deposit
For money you can lock away for a set period.
- Minimum balance
- MK25,000
- Interest
- Paid at the end of each term
- Bank charges
- None
- Early withdrawal
- Interest lost
Interest is added to the deposit and earns interest in the next term. NBM does not publish the current fixed deposit rates on the product page; check with the bank.
Call Account
For short-term savings with notice: 7 days or 30 days.
- Minimum balance
- MWK50,000
- Interest
- 5% (7 days), 6% (30 days)
- Bank charges
- None
- Needs
- A kwacha main account
Withdraw without notice and you lose the interest. Can be used as security for a loan.
Special groups
Mlimi Account
For farmers, farmer clubs and estate owners.
- Minimum balance
- MK200
- Costs
- None listed
- Proof
- Farmer ID or reference letter
- Open online
- Yes
Documents: account opening form plus ID and proof of address, and evidence that you farm.
Diaspora Account
For Malawians living or working abroad.
- Currencies
- Kwacha and foreign
- Monthly fee
- Free
- Internet banking
- Free
- Savings bonus
- +2% on kwacha savings
Comes with a Visa debit card and a dedicated desk at Henderson Street Service Centre. You must keep a kwacha operating account. See Way 3 for documents.
Foreign Currency Denominated Account (FCDA)
For people who earn in foreign currency: exporters, NGO staff, Malawians abroad.
- Minimum balance
- None
- Monthly fee
- Free
- Interest
- Negotiable
- Cash out
- Mostly in kwacha
You need a kwacha operating account, and the account follows Reserve Bank of Malawi exchange control rules. Having an FCDA does not mean you can always withdraw cash in that currency.
Step Up Professional
A package for employed professionals aged 18 to 35 with a degree, diploma or professional qualification.
- Net salary
- MK300,000 to MK500,000
- Current account fee
- MK5,455 a month
- Savings
- +2%, MK10,000 minimum
- Extras
- Loans up to MK5 million
You need permanent, confirmed employment and a salary account held for at least 6 months (new customers are considered case by case). Includes a relationship manager, a Visa debit card and BankNet360 at half the normal fee.
Documents to bring
Personal account checklist (from NBM’s form)
- Completed account opening form
- Copy of your ID (National ID)
- Proof of where you live: a utility bill (ESCOM, water board, city or ground rates, or MHC invoice)
- Payslip, if you are employed
- TEP or permanent residence permit, if you are not Malawian
- A sketch map to your home (there is a box for it on the form)
- Money for the minimum balance of your account
Some accounts need more: a student ID and school reference letter (Student Serve), the child’s birth certificate (ITF), or proof that you farm (Mlimi).
What it costs (tariff effective 20 February 2026)
Personal savings and current accounts have no monthly fee. These are the charges most people meet. Some carry 17.5% VAT; check the full Retail Banking Tariffs for everything else.
- Savings / current monthly fee
- Free
- Student, diaspora, ITF accounts
- Free
- Visa Classic debit card
- MK16,875 + MK8,600 a year
- Student card
- Free
- Withdraw at an NBM ATM
- Free
- Withdraw at another bank’s ATM
- MK500
- Mobile banking monthly fee
- MK2,380 (“unbundled” customers)
- Internet banking (BankNet360)
- MK3,960 a month
- Send to another bank (app, USSD)
- MK840
- Transfers within NBM, bills, airtime, MRA tax
- Free
Why two BankNet360 prices? The BankNet360 product page still says MK2,000 a month for retail customers; the newer tariff says MK3,960. We show the tariff. Ask the bank which applies to you, and which customers count as “unbundled” for the mobile banking fee.
Mo626 Digital+, *626# and BankNet360
NBM’s digital channels are free to register for. Most everyday transactions on them are free; transfers to other banks cost MK840.
Mo626 Digital+ app: register yourself
Install the app, open it and choose self-registration. Have your email address, mobile number and NBM account number ready, then follow the prompts.
You then get two codes: an M-PIN to log in and a T-PIN to approve transactions. Already on BankNet360? Log in there, open My Profile and choose Activate MB.
Mo626ice: dial *626# on any phone
Works on basic phones with no data. To register, fill in a form at your nearest service centre (the Mobile Phone Banking Application Form). Then dial *626# and enter your PIN.
BankNet360: internet banking in a browser
Self-register at banknet360.co.mw, or download the BankNet360 Application Form (Retail), fill it in and hand it in at a service centre. From abroad, the FAQ says to scan the form with your National ID and email it to the bank.
Cash without a card (cardless withdrawal) on *626#
- Dial *626# and enter your PIN.
- Choose 6 Cash/Agent Services, then 2 Cardless Withdrawal, then 1 Generate Token.
- Enter the phone number of the person collecting (it can be you) and the amount, in multiples of MK2,000.
- Confirm and get a 6-digit token. At an NBM ATM with the cardless sign, choose Cardless Withdraw and enter the token and phone number (starting 265).
Tokens last 48 hours, up to MWK80,000 each. In the app, use Cardless Withdraw Request and confirm with your T-PIN. NBM’s cardless guide.
Molly on WhatsApp: NBM’s chatbot can send proof of payment, resend ESCOM or water tokens and log refund claims. From the phone number registered with NBM, send “Hie” to +265 880 006 262 (the FAQ lists +265 996 006 262 for token help).
SWIFT code and branch codes
NBM’s website does not publish its own SWIFT (BIC) code or branch sort codes. Ask your service centre or call 626 before you give these to anyone sending you money.
For money coming from abroad, NBM publishes the correspondent banks it uses for each currency, with their SWIFT codes. The sender’s bank may need these as the intermediary bank, together with NBM’s details from your service centre.
- USD
- Citibank NA, New York (CITIUS33)
- EUR
- Deutsche Bank AG, Frankfurt (DEUTDEFF)
- GBP
- Citibank London (CITIGB2L)
- ZAR
- Standard Bank SA, Johannesburg (SBZAZAJJ)
Service centre phone numbers
From NBM’s contacts page. Every centre also has an email (for example [email protected]). Looking for a cash machine? See NBM’s ATM locations.
Northern Region
- Chitipa: +265 111 382 419
- Dwangwa: +265 111 295 350
- Karonga: +265 111 362 223
- Mzimba: +265 111 342 245
- Mzuzu: +265 111 312 554
- Songwe Agency: +265 111 369 322
Central Region
- Capital City (Lilongwe): +265 111 770 322
- Lilongwe: +265 111 757 016
- Lilongwe Gateway: +265 111 762 954
- Kamuzu International Airport: +265 111 700 772
- Kanengo: +265 111 710 193
- Kasungu: +265 111 253 224
- Mchinji: +265 111 242 236
- Mponela: +265 111 286 300
- Ntcheu: +265 111 235 780
- Salima: +265 111 262 811
- South End: +265 887 378 400 / 401
Southern Region
- Henderson Street (Blantyre): +265 111 821 000
- Victoria Avenue (Blantyre): +265 111 820 199
- Chichiri: +265 111 810 900
- Chichiri Shopping Mall: +265 111 873 774
- Customs Road: +265 111 840 133
- Top Mandala: +265 111 820 950
- Chileka Airport: +265 111 692 392
- Balaka: +265 111 552 222
- Liwonde: +265 111 542 866
- Mangochi: +265 111 594 322
- Mulanje: +265 999 978 552 / 885 917 341
- Mwanza: +265 111 432 696
- Nchalo: +265 111 428 252
- Thyolo: +265 111 473 234
- Zomba: +265 111 524 788
Call centre: dial 626 (toll free) or email [email protected]. Head office: NBM Towers, 7 Henderson Street, Blantyre, (265) 111 820 622.
National Bank of Malawi FAQ
What do I need to open an NBM account?
Your National ID, a recent utility bill and money for the minimum balance. Employed people also bring a payslip; non-Malawians bring a TEP or permanent residence permit.
What is the minimum balance?
MK5,000 for an ordinary savings account. A personal current account has no minimum. Student Serve opens with K500 (product page and NBM’s Facebook page). Special Saver minimums differ between NBM’s pages, so check with the bank.
Does NBM charge a monthly fee?
Not on personal savings, personal current, student, diaspora or ITF accounts (tariff effective 20 February 2026). You still pay for cards, cheque books, internet banking and some transfers.
Can I open an account from outside Malawi?
Yes. Apply on Smart Onboard or email the diaspora form with your passport, proof of address and a next of kin or referee with an NBM account.
I forgot my Mo626 PIN, M-PIN or T-PIN. What now?
Visit any service centre with your National ID to reset it, or call 626. If you changed phones and the app stopped working, do the same.
I lost my Visa card. How do I block it?
Call 626, block it in Mo626 Digital+ under Card Management, or visit a service centre. You can still get cash with a cardless withdrawal token.
How long does a transfer to another bank take?
Instant if you choose Instant Transfer in Mo626. Normal EFT transfers clear at 10am, 1pm and 4pm on working days.
What is NBM’s SWIFT code?
NBM does not publish it on natbank.co.mw. Ask your service centre or call 626. The bank does publish its correspondent banks and their SWIFT codes.
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