Banks & ATMs in Tanzania

As of September 2020, there are more than 50 banks in Tanzania out of which most of them are commercial banks, while others are community, microfinance and development banks. The banking institutions in Tanzania had an overall branch network of 957 branches in 2019 as compared to 878 in 2018. Out of these, most of the branches are located in major cities of Dar es Salaam, Arusha, Mwanza, Moshi, and Dodoma. Following are the names of some of the commercial banks in Tanzania:

• Absa Bank
• AccessBank
• Akiba Commercial Bank
• Amana Bank
• Azania Bank
• Bank of Africa
• Bank of Baroda
• Bank of India
• Citibank
• Canara Bank
• CRDB Bank
• DCB Commercial Bank
• Diamond Trust Bank
• Ecobank
• Exim Bank
• Stanbic Bank        
• First National Bank
• Habib African Bank
• KCB Bank
• National Bank of Commerce (NBC)
• People’s Bank of Zanzibar
• Standard Chartered Bank
• United Bank for Africa
• Mkombozi Commercial Bank
• National Microfinance Bank (NMB)

Likewise, the following are the names of the community banks present in Tanzania:

• Kilimanjaro Cooperative Bank
• Maendeleo Bank
• Mufindi Community Bank
• Mwanga Rural Community Bank
• Tandahimba Community Bank
• Uchumi Commercial Bank

The names of the microfinance banks are as follows:

• Finca Microfinance Bank
• EFC Tanzania Microfinance Bank
• Yetu Microfinance Bank
• Mwanga Hakika Microfinance Bank
• VisionFund Tanzania Microfinance Bank

The names of the development banks are as follows:

• Tanzania Agriculture Development Bank
• Tanzania Mortgage Refinance Company
• TIB Development Bank

ATMs in Tanzania are usually not a problem for foreign tourists but there may sometimes be issues with computer links or the machines running out of money. Most ATMs in Tanzania charge fees ranging from $3-$4. Withdrawal limits depend on the bank, which is usually TZS 200,000 to TZS 400,000. In smaller towns and villages, the ATM kiosks may have limited funds available. Major hotels accept debit or credit cards but the cheaper hotels, tourist sites, safaris and restaurants usually hesitate to accept payment by cards and prefer cash. Visa cards are more acceptable than MasterCards despite both attracting a 5% service charge for purchases.

The best and safest option is to have a VISA card with you while Mastercard is only accepted by some ATMs. Maestro Cirrus cards can also be used to make withdrawals, however check with your bank for the same. We recommend US travelers to visit your bank and inform them about your future withdrawals in African ATMs otherwise your card might get blocked due to security reasons. Although safari operators and hoteliers accept credit cards, but be ready to pay additional surcharge with each payment, ranging anything between 5 to 10%. The bottom line is to always have an extra cash with you in some cases when ATMs may remain offline or run short of cash. And, when you have to visit more rural areas in Tanzania, make sure to withdraw sufficient cash in the city, an extra bit on the side in case you do not find any ATM there.