EcoCash Increases Tariffs…Here Are The New EcoCash Tariffs Effective 1 August 2020

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New EcoCash Tariffs Effective 1 August 2020

New EcoCash Tariffs Effective 1 August 2020

 

The country’s biggest mobile money company, EcoCash, has raised its tariffs. The mobile money raised the charges for sending money and cashing out with effect from 01 August 2020. Interestingly, EcoCash has now removed the charges for “Sending Money To Unregistered” and for “Cash Out”. Apart from the charges for Sending Money to a Registered Customer, the other charges are for “Bill Payment” and “Pay Merchant”.

The new EcoCash charges and tariffs are as below.

Bands Use Cases
Lower Upper Bill Payment Send Money Pay Merchant
1.00 9.99 1.03 0.68 0.89
10.00 19.99 1.44 1.42 1.45
20.00 29.99 1.76 2.10 2.06
30.00 39.99 2.34 2.50 3.02
40.00 49.99 2.93 3.42 3.64
50.00 74.99 4.07 4.62 4.95
75.00 99.99 5.36 5.12 6.54
100.00 149.99 6.75 6.96 6.61
150.00 199.99 6.97 8.99 7.49
200.00 299.99 7.93 10.99 8.46
300.00 499.99 12.50 14.59 8.86
500.00 999.99 25.00 27.54 27.03
1000.00 1499.99 37.50 41.85 39.53
1500.00 1999.99 50.00 56.52 54.40
2000.00 2499.99 62.50 70.65 67.15
2500.00 2999.99 75.00 84.78 79.56
3000.00 5000.00 1.85% 1.90% 1.85%

 

OTHER LIMITS

 

Lower Upper Value Fee/Charge
Send Money to Registered Customer 1 5000
Send Money to Non Registered Customer 1 500
Airtime Top Up 2 500
Airtime 2 500 FREE
Balance Enquiry N/A N/A 1.5
Account History N/A N/A 1.5
Change PIN N/A N/A FREE
Bank to Wallet 1 1000 FREE
Bank Balance Enquiry N/A N/A 1.5
Bank Statement N/A N/A 1.5

 

New EcoCash Tariffs Effective 1 August 2020
New EcoCash Tariffs Effective 1 August 2020

 

The mobile money company has been under fire in the last few months following multiple legal battles against the government. The Reserve Bank of Zimbabwe (RBZ) sensationally accused the mobile money company of being an elaborate Ponzi Scheme which was responsible for the collapse of the Zimbabwe dollar through its illegal activities on the black market.

A few weeks later Permanent Secretary in the Ministry of Information, Publicity and Broadcasting Services, Nick Mangwana announced that the government was banning EcoCash and all mobile money services. However, the government later backtracked on the hardline position and instead suspended all agent and bulk payer lines. The government also suspended all Merchant to Merchant and Merchant to Individual transactions.

In another major blow for the mobile money company, the RBZ designated ZimSwitch as the National Payment Switch. Meaning that all mobile money transactions will now go through ZimSwitch starting from August 15, 2020.

 


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