EcoCash is a mobile payment solution that serves Econet customers in Zimbabwe. In this guide, you will discover a detailed list of all EcoCash charges, fees, rates, and tariffs in 2020.
EcoCash Tariffs and Limits
According to a report in The Herald, EcoCash increased daily and monthly transaction limits in March 2020. The monthly limit for subscribers not linked to a debit card rose from $10,000 to 20,000 while the daily limit expanded to $5,000.
Furthermore, monthly limits for customers linked to a debit card and a bank grew to $35,000 and $150,000 respectively. Additionally, the daily limit for debit card-linked customers increased to $10,000, and EcoCash customers in the executive grade category can now carry out monthly transactions of up to $250,000.
The table below indicates a breakdown of current EcoCash tariffs and limits.
|Lower||Upper||Bill Payment||Send Money||Cash Out Registered||Pay Merchant|
The charges and limits for other EcoCash transactions are as shown in the table below.
|Transaction||Bottom Value||Top Value||Charge|
|Cash Out Registered||1||100|
|Send Money to Registered Customer||1||5000|
|Send Money to Non-Registered Customer||1||500|
|Cash Out Unregistered||1||500|
|Airtime Top Up||2||500|
|Bank to Wallet||1||1000||FREE|
|Bank Balance Enquiry||N/A||N/A||1.5|
EcoCash Biller, Merchant, and Bulk Rates
Billers are organisations that receive mobile payments for offering goods and services. Merchants receive mobile payments for over-the-counter transactions.
What’s more, customers can make bulk payments through EcoCash. An example of a bulk payment is paying employees’ salaries.
The tables below indicate the EcoCash charges for biller, merchant, and bulk transactions.
|Bottom Value||Top Value||Fee|
Aside from mobile money payments, EcoCash also allows customers to link their digital wallets to their bank accounts. This means that they can transfer money from their bank accounts to their wallets to pay for goods and services.
Additionally, people living abroad can use EcoCash Diaspora to send money to their families in Zimbabwe. The payment solution has partnered with Western Union, WorldRemit, Cassava Remit, AfroCoin, MoneyGram, Mukuru, Call Home, and MTN Zambia to make this service a reality.
Customers using EcoCash can also do the following:
- Make QR payments
- Save money individually or as a group
- Pay bills and school fees
- Get loans
- Send and receive money
- Buy goods and services through merchants and billers
- Pay employees’ salaries
- Top-up airtime
To register for EcoCash, you must be above 16 years of age and must have a valid ID, driver’s license, passport, or work permit.