Mozambique Instant Payments System

Mozambique’s Instant Payment System, METIX, is now live. The electronic platform operates 24 hours a day, seven days a week, 365 days a year, allowing funds to be sent and made instantly available to the beneficiary.

Benefits of the Instant Payments System

  • No cost for individuals on interbank transfers;
  • Immediate availability of funds;
  • System availability 24 hours a day, 7 days a week, 365 days a year.

How it works

Using internet banking, mobile apps, and USSD, users can carry out instant interbank transfers from one bank account to another.

How to access the system

The system can be accessed through channels provided by commercial banks, such as internet banking, mobile apps, and USSD.

Advantages for citizens and businesses

For citizens:

  • Immediate receipt of funds transferred from bank accounts at other credit institutions;
  • Secure and convenient access via mobile phone or digital platforms;
  • No transaction costs.

For businesses:

  • Increased operational liquidity due to the immediate receipt of funds;
  • Reduced risks and costs associated with handling cash.

If an error occurs

  • Immediately contact the bank;
  • Provide transaction details (date, time, amount, and beneficiary);
  • Follow the instructions provided by customer service; and
  • Record any incident for monitoring and future prevention purposes.

Frequently Asked Questions (FAQ)

What are instant payments?

Electronic retail transfers in which funds are made available to the final beneficiary immediately.

What are the benefits of instant payments compared to traditional methods?

Immediate availability of funds, no costs for individuals on interbank transfers, greater convenience and efficiency, and transactions without time restrictions.

What are the transaction limits of the Instant Payments System?

  • Daily transaction limits for transfers between bank accounts are MZN 200,000.00 for individuals and MZN 500,000.00 for businesses.
  • Banks may set lower maximum daily limits than those established by Notice No. 1/GBM/2026 of 25 February, depending on the risk profile of their clients.

Who can send instant payments?

Any individual or company that holds an account with an institution participating in the Instant Payments System.

Who can receive instant payments?

Any individual or company that holds an account with an institution connected to the SIMO network.

What fees and charges apply in the Payments System?

  1. Interbank transfers are free of charge for individuals (transfers between banks from person to person, person to business, and person to Government);
  2. Fees and charges apply to interbank transfers initiated by businesses, according to each financial institution’s tariff schedule;
  3. Transfers from electronic money institutions are subject to fees and charges according to each institution’s tariff schedule.

What is the difference between METIX and other existing transfer and payment methods?

METIX offers an additional way to make transfers. The key difference is speed and availability:

  1. RTGS (Real-Time Gross Settlement): processing is immediate and individual, generally used for high-value transactions between banks or large companies. It is limited to banking business hours and may sometimes take some time between the payer’s instruction and the bank’s processing.

  2. ACH (Automated Clearing House): the batch payment system. Transactions are grouped and processed at specific times during the day, making them slower (funds may take up to two days to become available).

  3. METIX (Instant Payments): the next stage in payment evolution. The transaction takes place within seconds, 24 hours a day, 7 days a week, including holidays. Unlike ACH, the system does not wait for a “batch” to be processed and, unlike RTGS, it is available to anyone at any time through a mobile phone or the internet.