The country’s national transaction gateway, ZIMSWITCH has announced that they have reviewed transaction limits upwards starting today 10 October 2022. Individuals can now send up to $600 000 per month (officially about US$920). Each transaction is now capped at $150 000 ZWL i.e. about US$230. The review comes as the Zimbabwean dollar has been losing value officially for the past 3 or so months.

Customer Notice
ZIPIT LIMIT REVIEW
Dear Valued Customer,

Please be advised that the ZIPIT person-to-person transaction limit has been reviewed from ZWL$100,000 to ZWL$150,000 with a new monthly limit of ZWL$600,000 effective 10 October 2022.
In other words, an individual may now opt to send up to ZWL$150,000 per single transaction, but ultimately being governed by the new maximum limit of ZWL$600,000 per month.

The ZIPIT functionality is available on the following options: –
• ZIPIT from any bank to all mobile wallets; Ecocash, One money, Telecash & MyCash
• ZIPIT from all mobile wallets to all banks
• ZIPIT across all banks
• ZIPIT across all wallets
CONTACT US
+263 242 746 620 | +263 242 776 742
[email protected]

As already said, backing 2020 ZIMSWITCH, the providers of ZIPIT were promoted to the status of the national payments gateway. This means that pretty much any ZWL wallet or bank account can send and receive ZIPIT. You can send and receive money from bank accounts, OneMoney, Telecash, Ecocash and other lesser-known wallets using ZIPIT. The method of payment is often used by individuals who want their funds to reflect immediately in their recipient’s account. RTGS, from which Zimbabwe’s electronic currency gets its name, is often manually processed and a bit slower even though it has even higher limits.

So ZIMSWITCH reviewing limits upwards will be warmly received as some people who use the service for their informal businesses are likely to have started exceeding the old limits.