Open a bank account in Malawi
Malawi has 8 licensed commercial banks. Pick one below for a simple guide to its accounts, documents, fees, mobile banking and codes, taken from the bank’s own website.
- 8 commercial banks
- Licensed by the RBM
- Some open online
Quick answer: The Reserve Bank of Malawi lists 8 commercial banks: CDH Investment Bank, Centenary Bank, Ecobank, FDH Bank, First Capital Bank, National Bank of Malawi, NBS Bank and Standard Bank. Each sets its own documents, minimum deposit and fees, so open the guide for the bank you want. Several let you start the account online.
The 8 banks, one guide each
Each guide covers the bank’s personal accounts, what to bring, fees, mobile and internet banking, and its SWIFT and branch codes where the bank publishes them.
BankCDH Investment BankSavings from K100,000, 3 banking centres
BankCentenary BankFormerly MyBucks; students from MK500
BankEcobankOpen online, Xpress Account, *326#
BankFDH BankSavings from MK200, open online
BankFirst Capital BankFormerly FMB; account opening free
BankNational BankOpen online or at a branch, help line 626
BankNBS BankStudent account from K500, *322#
BankStandard BankStudent account, no fee, no minimumWhich bank for what?
A few starting points from the banks’ own pages. Fees and rules change, so read the full guide before you go.
- Open online
- Ecobank, FDH Bank, First Capital, National Bank, NBS Bank and Standard Bank let you start online.
- Students
- Standard Bank: no fee, no minimum. NBS Bank: from K500. Centenary: from MK500.
Opening an account, step by step
Choose the bank and the account
Savings, current, student or diaspora: open the bank’s guide above and pick the account that fits how you will use it. Living abroad? Compare diaspora accounts side by side.
Gather the documents
Each guide has a checklist from the bank’s own forms. Most ask for an ID and proof of where you live, but the details differ, so check your bank’s list.
Apply online or at a branch
Some banks let you start online; otherwise take your documents and first deposit to a branch. Each guide says which.
Set up mobile banking
Register for the bank’s app or USSD code to bank from your phone. Each guide shows how to sign up.
Use the bank’s real website. Scam pages copy bank logos. One example: NBS Bank’s site is nbs.mw; an old address, nbsmw.com, no longer belongs to the bank. Every link in our guides goes to the bank’s real site.
Banks in Malawi FAQ
How many banks are there in Malawi?
The Reserve Bank of Malawi’s register lists 8 commercial banks: CDH Investment Bank, Centenary Bank, Ecobank, FDH Bank, First Capital Bank, National Bank of Malawi, NBS Bank and Standard Bank.
Who regulates banks in Malawi?
The Reserve Bank of Malawi (RBM) licenses and supervises them. You can check its list of registered banks on rbm.mw.
Is First Capital Bank the old FMB, and Centenary Bank the old MyBucks?
Yes. First Capital Bank was formerly FMB and Centenary Bank was formerly MyBucks. See the First Capital and Centenary guides.
What is a SWIFT code?
An 8 or 11 character code that identifies a bank for international transfers, for example when family abroad sends you money. Each guide lists the bank’s code if the bank publishes it.
Bank account or mobile money?
Many people use both: a bank account to save and receive a salary, and Airtel Money or Mpamba for daily payments. Compare the charges in our mobile money fees guide.
Keep reading
Source for the list of banks: Reserve Bank of Malawi, registered banks, checked 20 October 2026. Details for each bank come from that bank’s own website; see each guide.
