Opening accounts, international transfers, cards, and money management for residents in Mozambique.
Updated: August 2026
The banking sector includes BCI, BIM, Standard Bank, Absa, Moza Banco, and others. Maputo has most branches; secondary cities have more limited but basic coverage.
Residents often use MZN current accounts for local salaries and, where available, USD or EUR accounts for remittances and international payments.
Mozambique uses the Metical (MZN); USD is often accepted at hotels, tourist restaurants, and agencies. Always compare your bank's exchange rate.
The process can take days to weeks. Banks apply strict KYC and source-of-funds rules.
Banco de Moçambique regulates the sector. Compare fees, hours, and requirements across commercial banks; no brand preference.
SWIFT transfers in and out of the country are subject to documentation and exchange controls. Central and commercial banks publish official rates; the informal (parallel) market operates with different spreads. Use legal channels.
Western Union and MoneyGram operate in Maputo and major cities; compare fees, timelines, and limits before sending large amounts.
Branches exist in provincial capitals. To open an account bring a passport or ID, NUIT, and proof of address.
Multicaixa and cards cover most urban purchases; M-Pesa and e-Mola move money between accounts. Keep cash for markets.
Banking regulation and documentation requirements change. Confirm current procedures directly with your chosen bank.
Learn which documents to bring and how to prepare transfers and local payments.
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