Devdraft supports cashout to Zambia (bank accounts and mobile money) and Malawi (mobile money with banking coming soon). Convert your USDC or EURC to local currency and withdraw to your accounts.

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Available Methods by Region

Bank Transfer Withdrawals:Supported Through Lenco ZM Integration:
  • All major Zambian commercial banks
  • Secure bank-to-bank transfer system
  • Direct ZMW deposits to your account
  • Enhanced security and compliance
Mobile Money Services:
  • MTN Mobile Money - Most widely used
  • Airtel Money - Comprehensive coverage
  • Zamtel Kwacha - Additional option
Currency: Zambian Kwacha (ZMW)

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Processing Details

Bank Accounts (Zambia Only)

Processing Details:
  • Time: 1-3 business days
  • Fees: Local currency equivalent processing fee
  • Availability: Banking hours

Mobile Money (Both Countries)

Processing Details:
  • Time: 1-24 hours
  • Fees: Local currency equivalent processing fee
  • Availability: 24/7

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Bank Account Withdrawals (Zambia)

Bank account withdrawals provide a traditional, secure method for receiving larger amounts directly into your Zambian bank account. This method is ideal for business transactions and substantial withdrawals.
Bank account setup interface showing supported Zambian banks - light modeBank account setup interface showing supported Zambian banks - dark mode

Bank Account Setup Interface

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Supported Zambian Banks

Major Commercial Banks

Primary Banking Partners:
  • Standard Chartered Bank Zambia - Full integration support
  • First National Bank (FNB) - Wide branch network
  • Stanbic Bank Zambia - Corporate and personal accounts
  • Zanaco (Zambia National Commercial Bank) - Government-backed institution
  • Barclays Bank Zambia - International banking services
  • Indo Zambia Bank - Specialized commercial banking
  • Access Bank Zambia - Pan-African banking network
Account Types Supported:
  • Current accounts (business and personal)
  • Savings accounts
  • USD and ZMW denominated accounts
  • Corporate accounts for businesses
Integration Benefits:
  • Direct bank-to-bank transfers via Lenco ZM
  • Real-time transaction status updates
  • Automated reconciliation
  • Enhanced security protocols
Documentation Needed:
  • Valid Zambian bank account in your name
  • Account number and bank details
  • Proof of account ownership (bank statement)
  • Matching identity verification with Devdraft account
Verification Process:
  • Bank account ownership verification
  • Name matching with Devdraft profile
  • Account status confirmation with bank
  • Test transaction (small amount) for validation
Security Measures:
  • Encrypted connection to Zambian banks
  • Multi-factor authentication required
  • Transaction monitoring and fraud detection
  • Compliance with Bank of Zambia regulations
Transaction Timeline:
  • Initiation: Instant (during banking hours)
  • Processing: 1-3 business days
  • Confirmation: Real-time status updates
  • Settlement: Final confirmation within 24 hours of completion
Fee Structure:
  • Base processing fee: Local currency equivalent
  • Bank charges: As per your bank’s fee structure
  • Currency conversion: Live exchange rates applied
  • No hidden fees or markup on exchange rates
Cut-off Times:
  • Same-day processing: Before 2:00 PM CAT
  • Next-day processing: After 2:00 PM CAT
  • Weekend transactions: Processed on Monday

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Mobile Money Withdrawals

Mobile money provides instant, convenient withdrawals available 24/7 across both Zambia and Malawi. Perfect for smaller amounts and immediate access to funds.
Mobile money wallet setup showing MTN, Airtel, and other providers - light modeMobile money wallet setup showing MTN, Airtel, and other providers - dark mode

Mobile Money Setup Interface

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Mobile Money Providers by Country

MTN Mobile Money (Most Popular)
  • Coverage: Nationwide network with extensive agent presence
  • Limits: Up to ZMW 50,000 daily transaction limit
  • Features: Cash-in/cash-out at MTN agents, bill payments, merchant payments
  • Registration: Valid Zambian mobile number and national ID required
  • Processing: Usually within 1-2 hours
Airtel Money (Comprehensive)
  • Coverage: Wide coverage across urban and rural areas
  • Limits: Up to ZMW 30,000 daily transaction limit
  • Features: Agent network, ATM cash withdrawals, utility payments
  • Registration: Airtel SIM card and valid ID required
  • Processing: Typically 1-3 hours
Zamtel Kwacha (Alternative)
  • Coverage: Growing network, strong in certain regions
  • Limits: Up to ZMW 20,000 daily transaction limit
  • Features: Basic mobile money services, agent cash-out
  • Registration: Zamtel line and ID verification required
  • Processing: Usually 2-4 hours
Ensure your mobile money wallet is active and has sufficient transaction limits before initiating withdrawals.

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Mobile Money Setup Process

1

Choose Your Provider

Select the mobile money service that works best for you:Consider These Factors:
  • Coverage Area: Ensure good agent presence in your location
  • Transaction Limits: Check if limits meet your withdrawal needs
  • Processing Speed: Compare typical processing times
  • Agent Availability: Verify cash-out options in your area
Provider Comparison:
  • MTN Money (Zambia): Best overall coverage and limits
  • Airtel Money: Available in both countries, consistent experience
  • TNM Mpamba (Malawi): Strong local presence and community trust
2

Register Mobile Wallet

Ensure your mobile money account is properly set up:Registration Requirements:
  • Valid mobile number from the provider
  • National ID or passport verification
  • Proof of address (utility bill or bank statement)
  • In-person registration at authorized agent
Account Activation:
  • Complete KYC verification with provider
  • Set up secure PIN for transactions
  • Verify transaction limits meet your needs
  • Test basic functionality (send/receive small amounts)
3

Add to Devdraft

Link your mobile wallet to your Devdraft account:Information Required:
  • Mobile money provider selection
  • Registered mobile number
  • Account holder name (must match Devdraft profile)
  • Verification of wallet ownership
Verification Process:
  • Small test transaction sent to verify wallet
  • Confirmation of successful receipt
  • Wallet status updated to “Active”
  • Ready for withdrawal transactions
4

Make Your First Withdrawal

Complete your first cashout transaction:Before You Start:
  • Ensure sufficient balance in your Devdraft account
  • Check current exchange rates for currency conversion
  • Verify mobile wallet has available receiving limits
  • Confirm agent availability in your area for cash-out
Transaction Process:
  • Convert USDC/EURC to local currency
  • Select mobile money withdrawal method
  • Enter withdrawal amount and confirm
  • Receive confirmation SMS and track status in dashboard

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Making a Withdrawal

Withdrawal Process:
  1. Access Cashout Modal
    • Navigate to your cashout region
    • Click Cash Out button
    • Modal opens with conversion and withdrawal options
  2. Select Source Currency
    • Choose between USDC or EURC from your balances
    • View available balance for selected currency
    • Currency selection affects conversion rates
  3. Enter Amount
    • Specify amount to withdraw in USD/EUR
    • See real-time conversion to ZMW
    • Check current exchange rates and fees
Exchange Rate Information:Supported Conversions:
  • USDC to ZMW (Zambian Kwacha)
  • EURC to ZMW (Zambian Kwacha)
  • USDC to MWK (Malawian Kwacha)
  • EURC to MWK (Malawian Kwacha)
Real-Time Rates:
  • Rates updated every 30 seconds
  • Transparent fee structure displayed
  • Market-competitive pricing
  • Clear conversion breakdown
Conversion Process:
  • Select source currency (USDC or EURC)
  • Choose destination region and currency
  • Enter withdrawal amount
  • Review exchange rate and fees
  • Confirm conversion to local currency
  • Converted funds sent to chosen withdrawal method
Exchange rates include a small spread (1-2%) to cover market volatility and processing costs.
Choose Destination:Bank Account Option:
  • Select from your saved bank accounts
  • Review account details before confirming
  • Higher limits but longer processing time
  • Best for larger amounts
Mobile Wallet Option:
  • Choose from your saved mobile wallets
  • Confirm phone number and provider
  • Faster processing but lower limits
  • Ideal for quick access to funds
Final Review:Confirmation Details:
  • Source amount and currency
  • Converted ZMW amount
  • Exchange rate applied
  • Transaction fees
  • Destination account/wallet
  • Estimated processing time
Security Verification:
  • Email confirmation required
  • SMS verification for large amounts
  • Transaction cannot be reversed once confirmed
Always verify all transaction details before confirming. Transactions cannot be cancelled or reversed once processed.

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Processing Fees

Available Methods:
  • Bank Transfers: Available through Lenco ZM integration
  • Mobile Money: MTN, Airtel, Zamtel supported
  • Currency Conversion: Real-time USDC/EURC to ZMW rates
  • Processing Fees: Vary by method and amount

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Monitoring Your Transactions

Transaction History

Track Your Withdrawals:
  • Real-time status updates
  • Complete transaction records
  • Filter by date and method
  • Export for accounting

Status Notifications

Stay Informed:
  • Email confirmations
  • SMS status updates
  • Dashboard notifications
  • Processing alerts

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Troubleshooting Common Issues

Common Problems:Account Not Found:
  • Verify account number is correct
  • Ensure bank is supported through Lenco ZM
  • Check account holder name matches profile
  • Contact your bank to confirm account status
Transfer Delays:
  • Bank transfers take 1-3 business days
  • Check for banking holidays
  • Verify sufficient funds were converted
  • Contact support if delayed beyond expected time
Zambia Mobile Money:MTN Mobile Money:
  • Ensure number is registered with MTN
  • Check MTN Mobile Money account status
  • Verify account limits with MTN
Airtel Money:
  • Confirm number is active with Airtel
  • Check Airtel Money account balance limits
  • Verify KYC status with Airtel
Zamtel Kwacha:
  • Ensure registration with Zamtel
  • Check account status and limits
Malawi Mobile Money:Airtel Money:
  • Verify number is registered with Airtel Malawi
  • Check account status and limits
  • Ensure KYC compliance with Airtel
TNM Mpamba:
  • Confirm registration with TNM
  • Check Mpamba account status
  • Verify transaction limits
Common Solutions:
  • Check country code format (+260 for Zambia, +265 for Malawi)
  • Verify account is active and in good standing
  • Confirm name matches across all accounts
  • Contact provider if funds don’t arrive within 24 hours
Currency-Specific Problems:ZMW Conversions (Zambia):
  • Monitor USD/EUR to ZMW rates
  • Consider local market conditions
  • Check for Zambian banking holidays
MWK Conversions (Malawi):
  • Track USD/EUR to MWK rates
  • Account for local market volatility
  • Consider Malawian banking calendar
General Issues:
  • Rates update every 30 seconds
  • Large market movements may affect rates
  • Consider timing for better rates
  • Rates locked in at transaction confirmation

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Security Best Practices

1

Verify Account Information

Accuracy Check:
  • Double-check all bank account details
  • Verify mobile wallet phone numbers
  • Ensure names match exactly across accounts
  • Test with small amounts first
2

Monitor Transactions

Stay Vigilant:
  • Review all transaction confirmations
  • Check account balances regularly
  • Set up transaction notifications
  • Report any suspicious activity immediately
3

Secure Your Accounts

Account Protection:
  • Enable two-factor authentication
  • Use strong, unique passwords
  • Keep mobile money accounts secure
  • Never share account credentials
4

Record Keeping

Documentation:
  • Save all transaction receipts
  • Maintain records for tax purposes
  • Keep exchange rate documentation
  • Track withdrawal patterns for limits
All cashout methods require completed KYC verification. Processing times may vary during peak periods or due to local banking system maintenance.