Diaspora bank accounts: bank in Malawi from abroad
Six of Malawi’s eight banks offer an account for Malawians living abroad. Here is what each one asks for and costs, side by side, and the Reserve Bank’s rules for keeping foreign currency at home.
- 6 of 8 banks
- Open by email or online
- No monthly fee at 3 banks
Quick answer: A diaspora account is a Malawian bank account for citizens living abroad. You can open one without flying home: National Bank has an online form, and Standard Bank, NBS, FDH and CDH take applications by email. Most hold kwacha and foreign currency. Expect to send a passport copy, proof of your address abroad and sometimes proof of income. Since January 2026, a foreign currency diaspora account (Diaspora FCDA) is free of Exchange Control.
The numbers that matter
Diaspora accounts, bank by bank
Tap How to open for each bank’s full steps and forms. Fees change, so confirm before you send money.
National Bank
Diaspora Current and Diaspora Savings
- Currencies
- Kwacha and foreign
- Monthly fee
- None
- Internet banking
- Free
- Extra
- +2% on kwacha savings
Apply online on Smart Onboard or with the diaspora form. You also keep a kwacha account. Visa debit card included.
Standard Bank
Diaspora Account
- Currencies
- Kwacha and foreign
- Monthly fee
- None
- Minimum deposit
- MWK10,000
- Money in
- Same day
Everything is done by email. Home loans up to MK200 million are offered to diaspora customers, subject to credit checks.
NBS Bank
Diaspora Transactional and Diaspora Investment
- Minimum balance
- K50,000 kwacha, nothing in other currencies
- Card
- Visa Black, K18,000
- Investment
- From K50,000, $100, £100, €100 or R1,000
- Withdraw savings
- 7 days’ notice
No monthly fee on the transactional account. A private banker is included.
FDH Bank
Diaspora Account
- Currencies
- USD, GBP, EUR or ZAR
- Minimum
- Not published
- Fees
- Not published
- Money in
- About 3 working days
Your balance can secure a loan over 36 months, for land, a house or a project at home.
CDH Investment Bank
Diaspora account
- Currencies
- USD, GBP, EUR or ZAR
- Keep at least
- $1,000, £1,000, €1,000 or R10,000
- Interest
- From 5,000 (R50,000), paid quarterly
- Withdraw
- In the same currency or kwacha
There is a downloadable form, but the bank does not say how to open from abroad, so email first.
First Capital Bank
Diaspora Banking
- Currencies
- Not published
- Minimum
- Not published
- Fees
- Not published
The bank says it offers diaspora banking but publishes no details. Email to ask what it offers.
The Diaspora FCDA: Reserve Bank rules
From the Reserve Bank of Malawi’s notice of 30 January 2026. Ask your bank for a Diaspora FCDA by name.
Allowed
- Malawian citizens abroad for 12 months or more
- Sending money in and out without Exchange Control
- Moving money to other FCDAs, or to kwacha through a forex bureau FCDA
- Keeping diaspora status after you return, with proof the money was earned abroad
Not allowed
- Money that comes from inside Malawi
- Export earnings
- More than half the balance in cash in one month, without RBM approval
- More than one cash withdrawal in a calendar month
Banks ask for one of the four documents above for a Diaspora FCDA. RBM says banks should offer online opening, online banking, a debit card and a dedicated diaspora banker.
What banks usually ask for
Each bank’s list is slightly different. These come up most often.
How to open one from abroad
The same order works at every bank.
- 1
Pick a bank
Kwacha for family bills, or a foreign currency account to keep dollars, pounds or rand.
- 2
Email the diaspora team
Ask for the form and the current minimum balance and fees. National Bank also lets you apply online.
- 3
Scan and send your documents
Passport, proof of address and anything else on the bank’s list. Certify copies if asked.
- 4
Get your account number
Then set up internet or app banking so you can see money arrive.
- 5
Send the first deposit
From your bank abroad or a transfer service. See sending money to Malawi.
Before you send: check what your money is worth in kwacha with our kwacha converter. The bank’s own rate and fees decide what arrives.
Diaspora account FAQ
Can I open a Malawian bank account without going home?
Yes. National Bank has an online form, and Standard Bank, NBS, FDH and CDH take applications by email.
Which bank has the lowest minimum?
Standard Bank publishes a minimum deposit of MWK10,000 and no monthly fee. NBS asks for a K50,000 book balance in kwacha, and nothing in other currencies.
Can I hold US dollars or pounds?
Yes. FDH and CDH accounts take USD, GBP, EUR and ZAR. National Bank and Standard Bank offer kwacha and foreign currency accounts.
What is a Diaspora FCDA?
A foreign currency account for Malawian citizens who live abroad for 12 months or more. Since 30 January 2026 it is free of Exchange Control, and you can withdraw up to half the balance in cash once a month.
I have dual citizenship. Can I still open one?
The Diaspora FCDA is for Malawian citizens, so bring your Malawian passport. See our dual citizenship guide.
What happens to my account if I move back?
Money you earned abroad keeps its diaspora status if you can prove where it came from. See moving back to Malawi.
Every bank in Malawi
HubAll banks in MalawiCompare the 8 banks and pick one
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 minimumSources: each bank’s own website, via our bank guides; Reserve Bank of Malawi Diaspora FCDA notice (30 January 2026).
