Top 5 Commercial Banks In Malawi – Based on Customer Reviews

post was last updated: August 1, 2017

On this page you will find a list of the top banks in Malawi. Our customer reviews are based on some requirements that each bank has been graded on including how good or how bad their customer service is, if each bank has a credible online banking system, a good number of ATM machines country-wide, ease of opening a personal savings accounts, money transfer quality, exchange rate policies and more.

Note: If you are a representative of any of these banks that has been reviewed, you can [ contact us ] and if you think we need to make some changes.

Best Banks In Malawi

1. National Bank of Malawi


NBM is a large financial services institution, serving the banking needs of the people and businesses in Malawi.  The reason why we rank it #1 here on is because they have the most ATM branches, they offer Visa debit and credit cards which can be used worldwide. NBM’s online banking is also one of the best banking platforms in Malawi, it comes with SMS alerts on your phone and you can purchase multiple products on your phone at special rates. Their customer service is better than the average, you will find it very easy to talk to most of their cashiers, but we do admit we do wish the cashiers smiled more.

Rating: A


2. First Merchant Bank


FMB is ranked #2 but they could have easily been ranked #1 because they are improving their services for the better, daily. They have the best banking website in Malawi and they also have the easiest system when it comes to signing up for an account and applying for a Visa debit/credit card. FMB’s online banking platform is the best we have experienced here in Malawi, it is fast, clean and easy to navigate.  Their customer service could improve, we sent an email to FMB 2 weeks ago and we have yet to get a reply but again, it is better than the average.  The inside of their bank buildings are clean and air conditioned throughout the country.

Rating:  A-


3. Malawi Saving Bank


Despite being owned 100% by the Government of Malawi, the bank continues to amaze us with the ability to upgrade and fix any major issues that are reported. We had a small issue with our account when we noticed K30,210 missing from our personal account, within hours they found out what happened and they replaced the money with no questions asked. In terms of customer service, they could improve, we have met multiple rude cashiers but overall they have helpful and willing employees. MSB’s online banking is pretty good, it is sometimes slow but it does work and most people might actually like the design, we wish they had different colors but that is just a matter of opinion.

Rating: B+


4. IndeBank


We rank IndeBank 4th place but we think next year they could easily crack the top 3 best banks in Malawi. Their web site is the main issue we have, it simply needs to be redone, a lot of their links don’t work especially those at the bottom of the website, like the branch locator page doesn’t work.  Their online banking system is nice, fast but they charge you a fee for K500 a month for online access and we think that is a bit too much, it shouldn’t cost anything for Malawians to use online banking, at very least it shouldn’t cost us that much. Their customer service is great but because they lack enough ATM branches we haven’t had the chance to interact with many cashiers.

Rating: B


5. FDH Bank


FDH bank is ranked 5th but we think they can improve their ranking next year as long as they fix their customer service issues, we had multiple reports stating that cashiers at the banks work too slow, others can be seen talking on cellphones while customers remained unhelped. Despite this, FDH bank does well in most areas, their online banking is great and  they do answer their emails unlike their rivals over at FMB. It is very easy to open a bank account at FDH and you can have your account approved in less than 3 hours after submitting your application.  We love the speed of FDH, lets hope they pay attention to the other sectors.

Rating B-

  • peter

    i agree with your analysis EXCEPT on FMB. this bank does not even qualify to be on top 5. my reasons for this are based on what is happening at FMB MZUZU BRANCH. here are my reasons
    1. the ATM machine does not usually have money during the weekend especially on Sundays and it takes a boy from Chibavi to travel to town to load some cash in the ATM machine. This boy does not even come in some occasions and people are left stranded . Being the only ATM machine for FMB in Mzuzu City this is a torture and an insult

    2. Confirming a cheque takes more than two hours and no reasons are given why they waste so much time. Rumours have it that most workers are demotivated hence this is one way of venting their anger

    3. Depositing money in this bank attracts a fee which is not the case with other banks

    4. Getting money from ATM attracts a fee which is not the case with other banks

    Let me rest my case as of now but i find your reasoning on putting FMB on number 2 quite strange. National Bank, FDH, INDEBANK are just fine but am sorry to say that am convinced beyond reasonable doubt the FMB management are a BUNCH OF THIEVES BENT ON STEALING PEOPLES CASH AND EXPLOITING WORKERS IN THE NAME OF OFFERING BANKING SOLUTIONS

  • John

    Its the mgmt under leadership of Leman Chisi which is failing the Mzuzu FMB Branch.

    The Bank goofed handpicking him who has served the Bank as an internal auditor.

    upon resuming the post as Branch Manager 4 yrs ago there have been exodus of big customers for the reasons of selfishness of the manager himself.

    For instance on everyday basis he comes to office not interacting to his own staff. The only being he interacts with is his mobile phones as each time you gi into his office on business mission you finds him holding phone either browsing in internet or playing games.

    Lack of an listening ear. The only person he listens to is his second command a she. With her they have coordinate seeing young potential fellow expelling them from their noble duties on mere petty issues.

    Due to noninteraction with his juniors. A customer once coming into banking hall you could see no working moral amongst staff.

    He a fellow who never listens to customers.

    The type of the system this FMB bank is another horror especially monthend you hear we dont have network or there is time level delaying customers to transactions.

    With these comments I rest my case.

  • suzan

    I hear the whole manager is busy organizing end of year bank’s party. This FMB branch manager is a drama don’t he have real issues to attend????? FMB branch pls jackup!!!!

  • Temwachi

    Why impose on people on xmass party let the staff decide where to hold it!!!!

  • Lemani

    I agree with Peter on the FMB s shortfalls. But you may appreciate that the study was not focussed on 5 issues,check introduction. We cant conclude that FMB is not fit for this top five based on this study.your comments would be valid if this was a customer satisfaction survey.all banks have got weak points even NBMs electronic queing system which flopped would not guarantee NBM to be number 1 if this was a customer satisfaction survey. Talking of Chisi, he is really one selfish Manager. Let FMB management sort him out for the progress of the bank in the north. Some of you are internam customers complaining of Chisi, does FMB have a channel for staff to make grievances,I doubt because if it had, staff would not complain of their Manager on this platform. Food for thought for FMB management.

  • Dikshit

    Whether you like it or not Leman will be there as a manager.

    The whole writeup of this story is unprofessional.

  • xxxxxzx

    Me as a customer who has been with this Bank now 15 yrs. I would say FMB ATMs are facing great challenge with coming in of Fast Accounts customers holders.

    A good number of these customers are unknowledgeable with these machines. Imagine some one inserting a card on advice receipt outlet what do you expect for the machine to do.

    I have known all these information by asking the bank mgmt why their machines faces alot of downtime.

    So its unprofessional to pinpoint Leman and 2 IT guys who mans IT infrastructure at FMB North these guys are doing great as far it is in serving FMB in North.

    All I would say is that the Bank needs to give these guys right resources for these guys to perform better.

  • Annie

    Me I just like and wish to fall in Lovings with this Chibavi HANDSOME boy in eye glasses. The rest am following

  • vanessa

    kodi a malawi ndinu athu asanje chifukwa ninji???? ndipake nyimbo yafuko lathu limakamba za nsanje.Leman ndi a boy from chibavi alakwanji???? he mwadananawo chani???????TELL ME!”!!!!

  • رتلیذط

    koma ka Chibavi handsome boi ambiri timakafuna eeeet

  • Hitesh


  • Kadantont

    Dziko lanu ndalama wathu

  • sudiru



    Mbuzi zaku FMB musatisokose apa demet?

  • John Khomba

    Arrests aside but this FMBank is not serious. Imagine going to the ATMs on Xmas and finding that 3 ATMs have no money. This is a mockery. To make it worse the so called Helpline had a rude officer responding to ourqueries at the other end. This happened before to me in Salima during the Republic cerebrations and now this. What kind of bank is this that works better only during working days??