First Capital Bank Malawi
How to open a personal account with First Capital Bank (the old First Merchant Bank), which account fits you, what it costs, how to start the app and internet banking, and the SWIFT code.
- Account opening free
- Savings 5% a year
- SWIFT FRCGMWMW
Quick answer: Go to any First Capital Bank branch or agency with your original ID (National ID, passport, driver’s licence or Road Traffic Register card), proof of address and proof of income, and fill in the personal account form. Opening an account is free. Want your ATM card the same day? Ask for a Fast Account. The bank’s SWIFT code is FRCGMWMW.
Personal accounts at First Capital Bank
These are the accounts the bank lists for individuals. Numbers are from the bank’s pages and its 2026 Tariff Guide (fees include VAT). Where the bank does not publish a figure, we say so.
Savings Account
For saving while you still pay and withdraw from the same account.
- Interest
- 5% a year, paid half yearly
- Monthly ledger fee
- Free
- Chequebook
- On request after a K20,000 deposit
- Minimum to open
- check with the bank
You get an ATM card and access to loans. The bank says K20,000 is the deposit that qualifies you for a chequebook; it does not publish a separate minimum to open, so ask at the branch.
Current Account
For everyday payments: salary in, bills and shopping out.
- Comes with
- Visa debit card, chequebook
- Digital
- App, USSD, internet banking
- Monthly fee
- check with the bank
- Minimum to open
- check with the bank
Current account holders can also use the bank’s investment accounts, credit and bill payments. The 2026 tariff lists a First Banking bundle fee of K5,875 a month (free ATM withdrawals at FCB ATMs included), but does not say which accounts pay it. Ask which monthly fee applies to yours.
Fast Account
For opening an account quickly, with the ATM card and PIN on the spot.
- Interest
- 5% a year on balances above K5,000
- Maximum balance
- K200,000
- Card
- ATM card and PIN on the day
- Fees
- check with the bank
A direct sales agent fills in a short form with you and takes your photo, and the account is ready in no time.
The Fast Account page still shows a K5,000 starter pack (K4,500 card plus K500 first deposit) and K600 a month, while the newer 2026 Tariff Guide lists the first card and the monthly ledger fee as free. Ask which applies before you pay.
Fixed Deposit Account
For money you will not need for a while, at a fixed interest rate.
- Minimum deposit
- K25,000, no upper limit
- Terms
- 1, 2, 3, 6, 9, 12 to 24 months
- Rates listed
- 1 month 3.5%, 2 months 5.5%, 3 months 5%
- Longer than 3 months
- Rate negotiable
You can renew it for another term when it matures, and it can make you eligible for a loan. Take the money out early and you pay an early withdrawal penalty. Rates change, so confirm today’s rate before you invest.
Prestige Banking
For customers who want a personal banker: a Prestige Current Account and a Gold Savings Account.
- Monthly fee
- K30,550 bundle
- Includes
- Mobile and internet banking fees, FCB ATM withdrawals
- Card
- Visa Gold, K29,375
- Minimum balance
- check with the bank
You get a dedicated Prestige Banker, longer opening hours and the Prestige Banking Centres. To join, talk to one of the bank’s Personal Bankers.
Other accounts the bank mentions but does not explain online: a Call Deposit Account (save at your own pace, take cash when you need it), a Student savings account (the tariff calls it Afana Opusha, with no monthly ledger fee and a free first Visa card), a minor’s account held in trust for a child, joint accounts and Diaspora Banking. For requirements and deposits, check with the bank.
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.
How to open a First Capital Bank account
This is the bank’s own process for individuals. The Fast Account is quicker; see the note below.
Open online. As posted on the bank’s Facebook page (September 2026): open your account online at firststep.fmbch.com, then collect your debit card at any branch. Help: toll free 4000, WhatsApp 0887 001 111, [email protected].
Choose the account
Savings if you want interest, Current for everyday payments, Fixed Deposit to lock money away. Not sure? Use the Enquire Now form on any account page and the bank will call you back.
Gather your documents
Original ID, proof of address and proof of income. The full list is in the checklist below. The bank keeps a copy of your ID.
Fill in the personal account form
Download the Application for Personal Account (PDF) and complete it in block letters, or pick up a form at the branch. The same form covers savings, current, joint and minor’s accounts.
You can also email the completed form to a branch manager; their emails are on the branches page.
Hand it in and make your first deposit
Take the form and documents to your nearest branch or agency. Opening the account is free under the 2026 tariff. Ask for your Visa debit card and, when the account is ready, sign up for the app or internet banking.
Documents checklist
- Original ID: National ID, passport, driver’s licence or Road Traffic Register card.
- Proof of address: a utility bill, a letter from your landlord, a copy of your tenancy agreement or a copy of your title deed.
- Proof of income: a copy of your payslip, a letter from your employer or a business registration certificate.
- Income and Address Declaration Form (IADF), only if the branch manager asks for it.
Not a resident? The form asks for a non resident permit number too. For a joint account the bank needs an extra form (FCB 7E).
Fast Account: no long form. A direct sales agent helps you fill a simple application and takes your photo, and you leave with an ATM card and PIN. Bring your ID; for anything else, check with the bank.
App, USSD and internet banking
All three need a First Capital Bank account.
The First Capital Bank app
Download the app
Install First Capital Bank from Google Play or the App Store, using the links below (the ones the bank gives). The “FCB Business” app is for business accounts, not personal ones.
Register and log in
The bank says to download it once you have an account. It does not publish the sign up steps online, so if the app asks for details you do not have, check with the bank or call 4000.
What you can do
See all your accounts and loans, pay and transfer from the dashboard, set or change your card PIN, block and unblock cards, use Quick Pay for airtime and regular payments without logging in, and share proof of payment on WhatsApp.
First Mobile: banking without data
First Mobile works on a basic phone. Check balances and mini statements, move money to other First Capital Bank accounts, buy TNM and Airtel airtime, pay water, electricity and DStv, and pay shops or taxi drivers.
Register at the bank
Registration is free. Dial *1111#: the bank gives this USSD code on its Facebook page (2025). The sign up steps are not published, so ask at your branch or call the toll free line 4000 (TNM and Airtel).
Send money to anyone with Ziri M’manja
First Mobile’s remittance service sends money to anyone in Malawi, even people without a bank account.
Monthly fee: the 2026 tariff charges K1,175 a month for mobile banking on Fast accounts and K2,937.50 on First accounts. Balance checks, mini statements, airtime, utility bills and transfers to your own account are free.
Internet banking
Download statements as Excel, PDF or CSV, schedule payments, pay bills, order cards and chequebooks, stop cheques and open a term deposit.
Already a customer
Visit your branch, or fill in the internet banking application form (PDF) and email it to your branch manager.
New to the bank
Send an enquiry on the internet banking page and the bank will contact you.
Fee: K1,692 a month for retail accounts (2026 tariff). If you use both the app and internet banking, you pay only the internet banking fee.
Common fees at a glance
From the bank’s Tariff Guide 2026 (dated 23 February 2026), VAT included. Tap a group to open it.
Free
- Opening or closing an account: Free
- Cash and cheque deposits (ordinary account): Free
- ATM withdrawal at FCB ATMs: Free
- SMS alerts: Free
- Transfers within FCB: Free
- Semi annual statement: Free
Mobile and internet banking
- Mobile banking, Fast accounts: K1,175 a month
- Mobile banking, First accounts: K2,937.50 a month
- Internet banking, retail: K1,692 a month
- Transfer to another bank: K916.50
- Cardless withdrawal: K822.50
- Bank to TNM or Airtel wallet: K822.50
Cards
- Visa Classic debit card (First accounts): K16,156.25
- Visa Gold debit card (Prestige): K29,375
- First card for Fast, Student and Makwacha accounts: Free
Cheques and branch services
- Chequebook, 50 leaves: K35,396.88
- Chequebook, 100 leaves: K78,960
- Bankers cheque: K52,875
- Interim statement, per page: K1,292.50
- Manual transfer to another bank, before 3pm: K31,725
Before you sign, open the full Tariff Guide 2026 (PDF). Fees change. Sending to Airtel Money or Mpamba? Compare with our mobile money fees guide.
SWIFT code, branches and help
First Capital Bank Malawi’s SWIFT (BIC) code is FRCGMWMW. It replaced the old FMB code FMERMWMW on 14 September 2019, so anyone sending you money from abroad must use the new one.
The bank does not publish branch or sort codes on its website. Ask your branch for the exact details to give a sender, and check the account name and number on your statement.
- SWIFT / BIC
- FRCGMWMW
- Call centre
- 4000, free on TNM and Airtel
- Other lines
- 01 830 000, 01 832 507/8
- Head office
- Livingstone Towers, Glyn Jones Road, Blantyre
Is First Capital Bank the same as FMB?
Yes. First Capital Bank opened in Blantyre in 1995 as First Merchant Bank (FMB) and later took the First Capital Bank name, shared with its sister banks in the region. Many people still call it FMB.
It is owned by FMBcapital Holdings and serves personal, business and corporate customers through branches and agencies across Malawi. Like every Malawian bank, it is supervised by the Reserve Bank of Malawi.
- Founded
- 1995, Blantyre
- Old name
- First Merchant Bank
- Owner
- FMBcapital Holdings
- Motto
- Belief comes first
First Capital Bank FAQ
What is First Capital Bank Malawi’s SWIFT code?
FRCGMWMW. The old FMB code, FMERMWMW, stopped being used in September 2019.
What do I need to open an account?
Your original ID (National ID, passport, driver’s licence or Road Traffic Register card), proof of address such as a utility bill or landlord’s letter, and proof of income such as a payslip or employer’s letter. The branch may also ask for an income and address declaration form.
How much money do I need to open an account?
Opening is free. A Fixed Deposit needs at least K25,000, and a Savings Account needs K20,000 before you can ask for a chequebook. The bank does not publish a minimum opening deposit for other accounts, so check with the bank.
What is the First Capital Bank USSD code?
*1111#, as posted on the bank’s Facebook page (2025). The website does not publish it. Registration is free; ask at a branch or call 4000.
Is there a student or youth account?
The 2026 tariff lists a Student savings account called Afana Opusha with no monthly ledger fee and a free first Visa card, but there is no product page for it. Ask at a branch for the requirements.
Can I open an account from outside Malawi?
The bank says it offers Diaspora Banking but gives no details online. Contact the call centre or email [email protected].
Where can I collect money sent by Western Union or MoneyGram?
At any First Capital Bank branch or agency, with a valid ID. The bank also pays out Ria, Hello Paisa, Xpress Money and Sigue transfers.
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BankStandard BankStudent account, no fee, no minimumGuideMobile money feesAirtel Money and Mpamba chargesGuideKwacha rate and converterConverter and today’s official rateSources: account, Prestige, First Banking, mobile app, First Mobile, internet banking, branches, contact and SWIFT notice pages on firstcapitalbank.co.mw, the bank’s Tariff Guide 2026 (23 February 2026) and its Application for Personal Account form. Checked October 2026. Rates and fees change; confirm with First Capital Bank before you sign.
