Standard Bank Malawi
How to open a personal account with Standard Bank, which account fits you, what it costs, and how to start banking on the 247 App, 247 Online and *247#.
- Student account: no fee, no minimum
- Open online or at a branch
- Help line 247
Quick answer: Apply online at accountopening.standardbank.co.mw with your National ID, phone, proof of address and proof of income, or visit a branch with the same documents. The everyday Achiever account costs MWK4,700 a month (or pay as you go) with a MWK2,000 minimum deposit; the Student Account has no fee and no minimum. Then register for 247 Online, the 247 App or dial *247#.
Three ways to open a Standard Bank account
Apply online in 9 steps
Standard Bank’s online form opens the Achiever Current, Public Servant and Student accounts. It is for Malawian citizens; the option for foreign nationals says “coming soon”.
Pick your account
Open Achiever Current, Public Servant or Student Account on accountopening.standardbank.co.mw.
Get 8 things ready
A Malawian mobile number with you (for an SMS code), your National ID or passport, a few minutes for a selfie video, your signature, proof of address, proof of income, your job and income details, and a next of kin’s name, phone and ID number.
Follow the steps
Tick that you have everything, choose Malawian Citizen, then go through the compliance check, terms, ID scan, selfie check and document upload.
Students: instead of a payslip, upload a signed letter from your parent or guardian saying they support you (with their full name, National ID number, phone and signature) and a letter from your school or college registrar confirming you are enrolled. No payslip and not a student? The form lets you write and sign your own declaration letter.
Proof of address can be an ESCOM or water bill from the last 3 months, a rental agreement, or a pinned map location. Standard Bank does not say how long online approval takes; check with the bank on 247.
Open an account at a branch
Most accounts can be opened at any branch (Private Banking at its own suites). Hours: Monday to Friday 8:00am to 3:00pm, Saturday 9:00am to 11:30am, closed Sunday. Find a branch below.
Pick the account
Most salaried people start with Achiever Banking; civil servants with the Public Servant Account; students under 25 with the Student Account. Compare them in the cards below.
Bring your documents
See the checklist. Public Servant applicants pick up the application form at the branch and hand it in there.
Pay the minimum deposit
MWK2,000 for Achiever and Public Servant; nothing for the Student Account. Ask for your Visa or ATM card and to be registered for 247 Online and *247# on the same visit.
Open a diaspora account
For Malawians living or working outside Malawi. Single or joint, in kwacha or foreign currency, with a debit card that works internationally.
What Standard Bank asks for
- A certified copy of your passport.
- Proof of where you live: a utility bill, lease agreement, permit or similar document.
- Certified proof of income: payslip, employment contract or similar.
- The completed account opening forms.
- Email everything to [email protected] (same address for questions).
No monthly fee; minimum deposit MWK10,000. Standard Bank does not publish the diaspora forms on its website, so ask the diaspora team for them.
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 Standard Bank account is right for you?
Every personal account Standard Bank lists, with the numbers it publishes. Monthly fees match the fee schedule effective 23 February 2026; all bank fees carry 17.5% VAT.
Everyday accounts
Achiever Banking
For salaried workers who want an everyday current account with a card and cheque book.
- Monthly fee
- MWK4,700, or pay as you go
- Minimum deposit
- MWK2,000
- Card
- Visa card
- Extras
- Free SMS alerts, app, internet banking
Free transfers between your own accounts, free card payments in shops and online, free e-statements, free withdrawals at Standard Bank ATMs. Pay as you go means no fixed fee, but each transaction is charged (see fees).
Documents: National ID, employer’s letter (if employed), recent payslip, proof of residence. Self-employed or unemployed? Bring two references.
Student Account
For students below the age of 25.
- Monthly fee
- None
- Minimum deposit
- None
- Card
- Free ATM card at opening
- Other charges
- Pay as you transact
No Visa cardholder fee. Apply online or at a branch. Online, you need the guardian and registrar letters described in Way 1; for a branch, the bank does not list the documents, so check with the bank.
Public Servant Account
For civil servants working in any arm of Government.
- Monthly fee
- MWK2,000
- Minimum deposit
- MWK2,000
- Pricing
- Bundled or pay per transaction
- Card
- Free ATM card for first-time clients
Overdrafts from MWK30,000 to MWK5,000,000, home loans from MK2 million (subject to credit scoring), and a choice of three funeral cover options.
Documents: branch application form, letter from your employer, proof of residence and a copy of your National ID.
Diaspora Account
For Malawians living or working abroad.
- Monthly fee
- None
- Minimum deposit
- MWK10,000
- Currencies
- Kwacha and foreign
- Inward transfers
- Same day
Home loans up to MK200 million (subject to credit scoring) and insurance are available. See Way 3 for documents.
Premium accounts
Executive Banking
For people earning MWK2.5 million to MWK5 million a month (gross).
- Monthly fee
- MWK21,000 bundled
- Or
- Pay as you go, MWK8,520 management fee
- Card
- Gold Visa card
- Extras
- Dedicated Executive banker
Personal loans up to MWK15,000,000, priority teller, free withdrawals at Standard Bank ATMs. The page also shows a MWK9,975 bundled fee; the account list and the 2026 schedule say MWK21,000, so check with the bank.
Documents: as for Achiever (National ID, employer’s letter, payslip, proof of residence; two references if you lack the letter or payslip).
Private Banking
For people earning at least MWK5 million a month.
- Monthly fee
- MWK39,000 plus 17.5% VAT
- Minimum income
- MWK5 million a month
- Card
- Platinum card
- Age
- 18 or older
A dedicated private banker, extended banking hours and unsecured personal loans up to MWK40,000,000. Apply at the Mlambe Suite in Lilongwe or the Blantyre Private Suite with valid ID, employer’s letter, payslip and proof of residence (self-employed: source of income and business registration certificate).
Saving and investing
PureSave
A savings account you can pay into and take money out of at any time. For adults.
- To open
- MWK5,000
- Interest
- Up to 4% a year, paid quarterly
- Monthly fee
- None
- Standing order
- At least MWK2,000 a month
Interest only on balances above MWK5,000, and the rate rises with your balance. Comes with an ATM card. Already a customer? Open it as a second account in the 247 App or 247 Online.
Documents: valid ID and a utility bill less than 3 months old.
Fixed Deposit
Lock money away for 3 to 12 months at a fixed rate.
- Minimum
- MWK20,000
- Term
- 3 to 12 months
- Fees
- None
- Needs
- A Standard Bank transactional account
Can be used as security for a loan. Breaking it early costs 25% of the interest earned (2026 schedule). Standard Bank does not publish its fixed deposit rates online; check with the bank.
Documents: National ID and a water or electricity bill. You must be an adult.
Contract Save
A savings plan with a fixed monthly payment, for a house deposit, wedding or school fees.
- To open
- MK20,000
- Monthly
- Standing order of at least MWK10,000
- Interest
- 5% to 8% a year
- Bonus
- 10% to 30% of interest earned
Interest: 5% below MWK500,000, 6.5% from MWK500,000 to MWK5,000,000, 8% above MWK5,000,000. Bonus: 10% of interest for 3 months, 20% for 6 months, 30% for 12 months. Taking money out before the end costs 40% of the interest earned. Open as many as you have goals.
Documents: valid National ID.
Call Account
Earn interest but take your money out when you need it.
- Minimum
- MWK50,000
- Term
- 1 to 12 months
- Interest
- 2% a year above MWK1,000,000, paid monthly
- Fees
- None
Linked to a Standard Bank transactional account. Documents: National ID and a water or electricity bill. You must be an adult.
Saving for a child? Standard Bank does not list a children’s or junior account on its website; check with the bank.
Documents to bring
Personal account checklist (Achiever, Executive)
- National ID (passport for diaspora applicants)
- Letter from your employer, if employed
- Recent payslip
- Proof of residence: a utility bill, or a residence letter from your employer, T/A or village headman
- Employment permit (employed foreigners) or business permit (foreigners in business)
- Two references if you are self-employed or unemployed
- The minimum deposit for your account
Some accounts ask for different papers: Public Servant (employer’s letter, proof of residence, National ID copy), Student (guardian and registrar letters online), savings accounts (ID and a recent utility bill).
What it costs (schedule effective 23 February 2026)
The charges most people meet. All fees carry 17.5% VAT, and transfers carry a 0.05% MRA levy. See the full Revised Fees and Commissions 2026 for cards, cheque books and everything else.
- Ordinary savings account
- Free
- Student, diaspora accounts
- Free
- Achiever bundle
- MWK4,700 a month
- Withdraw at a Standard Bank ATM
- Free
- Other bank’s ATM (pay as you go)
- MWK500 to withdraw, MWK200 balance
- Transfer to another bank (pay as you go)
- MWK840
- E-service fee (pay as you go)
- MWK1,575 a month
- Internet banking registration
- Free
- Send Quickash
- MK480; free to withdraw
Bundled or pay as you go? On the bundle, transfers to other banks and other banks’ ATMs are free. On pay as you go there is no bundle fee but each of those costs extra. If you make many transfers, the bundle can work out cheaper.
247 Online, the 247 App and *247#
Register for 247 Online (internet banking) first: the 247 App signs in with the same username and password.
247 Online: register yourself
Go to ebanking.standardbank.co.mw and tap Register for Online Banking. Enter your account number, tap Continue and follow the prompts.
You get a one-time password (OTP) by SMS. Sign in with it; your username is your account number. Stuck? Call 247 (toll free) or register at any branch.
New account? Get your username
Standard Bank’s 247 Digital Guide says: on the sign-in page choose Forgot Username, enter your account number and the OTP sent to your phone or email, and your username appears. Sign in with it and the OTP from account opening, then create a password and security questions.
247 App: sign in with your 247 Online details
Install Standard Bank / Stanbic Bank from your app store, open it and choose Malawi. Tap Sign in with your 247 Online username and password, enter your email address and the OTP it receives.
Sign in again, set up Face ID, fingerprint or a passcode, then tap Link Account and choose Malawi to see your accounts.
*247#: bank on any phone
Works on Airtel and TNM, with or without data. Activate it at a branch or by calling 247 (toll free), then dial *247#. Pay bills, buy airtime and electricity, send money to any account or to a mobile wallet, and check your balance.
“Device already registered” error in the app? Call 247 or email [email protected]. Cash without a card: send Quickash from 247 Online or *247# to any phone number and collect it at a Standard Bank ATM with the Quickash button.
SWIFT code and branch codes
Standard Bank Malawi publishes its SWIFT code on its contact page and branch codes on its branches page.
Give the sender abroad the SWIFT code, your full name and your account number. Ask your branch if they need any other detail.
- SWIFT / BIC
- SBICMWMX
- Bank name
- Standard Bank Plc, Malawi
- Head office
- Africa Unity Avenue, Lilongwe 3
- Postal
- P.O. Box 30380, Lilongwe
All 27 branch codes and phone numbers
- Balaka Service Centre: 1009 · 01 552 422
- Blantyre Branch: 1002 · 01 820 222
- Bwaila Branch (Lilongwe): 1028 · 01 724 616
- Capital City Branch (Lilongwe): 1015 · 0999 901 5450 / 0310 005 450
- CBC (Blantyre): 1025 · 01 870 802
- Chichiri Service Centre (Blantyre): 1024 · 01 878 170
- City Mall Service Centre (Lilongwe): 1031 (Mwanza is listed with the same code; check with the bank) · 01 754 605
- Dedza Service Centre: 1014 · 01 223 346
- Dwangwa Service Centre: 1019 · 01 295 255
- Gateway Mall Service Centre (Lilongwe): 1032 · 01 762 002 / 01 762 964
- Ginery Corner Branch (Blantyre): 1005 · 0999 901 5800 / 0310 005 800
- Kanengo Service Centre: 1026 · 01 711 770
- Karonga Service Centre: 10327 (as published; check with the bank) · 01 362 455
- Kasungu Service Centre: 1018 · 01 253 225
- Lilongwe Branch: 1016 · 0999 901 5500
- Limbe Branch: 1004 · 01 840 166
- Luchenza Service Centre: 1010 · 01 476 448 / 01 476 078
- Mangochi Service Centre: 1008 · 01 594 377
- Mponela Service Centre: 1030 · 01 286 422
- Mwanza Service Centre: 1031 (City Mall is listed with the same code; check with the bank) · 01 432 341
- Mzimba Service Centre: 1022 · 01 342 400
- Mzuzu Branch: 1021 · 01 312 366
- Mzuzu Digital: 1033 · 01 312 375 / 01 312 368
- Nchalo Service Centre: 1029 · 01 424 417
- Ntcheu Service Centre: 1011 · 01 235 455
- Salima Service Centre: 1017 · 01 262 544
- Zomba Branch: 1006 · 01 524 144
Two codes look wrong on the bank’s page: Karonga is listed as 10327 (five digits), and City Mall and Mwanza both show 1031. We copied them as published; check with the bank before you use them.
Contacts and complaints
- Personal banking (in Malawi)
- 247
- From abroad
- +265 885 920 001
- [email protected]
- App and sign-in help
- [email protected]
If a complaint is not solved
- Complain through 247 or the emails above first. If you complained at a branch, contact the Branch Manager.
- Still unhappy? Email the head office service desk: [email protected].
- Still not solved? Contact the Reserve Bank of Malawi on toll-free 459 or [email protected].
Standard Bank Malawi FAQ
What do I need to open a Standard Bank account?
Your National ID, proof of residence (a utility bill or a residence letter), and, if employed, a payslip and a letter from your employer. Online you also need a Malawian phone number and a selfie video.
What is the minimum deposit?
MWK2,000 for Achiever and Public Servant, MWK10,000 for Diaspora, nothing for the Student Account. PureSave needs MWK5,000, Fixed Deposit and Contract Save MWK20,000, Call Account MWK50,000.
Can I open a Standard Bank account online?
Yes, if you are a Malawian citizen: Achiever Current, Public Servant and Student accounts at accountopening.standardbank.co.mw. Foreign nationals cannot apply online yet.
What is Standard Bank Malawi’s SWIFT code?
SBICMWMX, as published on the bank’s contact page.
What is the USSD code?
*247# on Airtel and TNM. Activate it first at a branch or by calling 247.
Why can I not sign in to the 247 App?
The app uses your 247 Online login, so register for internet banking first. Forgot your details? Use Forgot Username (account number and OTP), then Forgot Password. Still stuck, call 247.
What are the branch opening hours?
Monday to Friday 8:00am to 3:00pm, Saturday 9:00am to 11:30am, closed on Sunday.
Does Standard Bank have a children’s account?
Not on its website. Standard Bank lists no junior account; check with the bank.
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