Ecocash Calculator, Fees And Limits-January 2022

Since it was introduced Ecocash, has always charged its fees depending:

• on the amount involved in the transaction
• This fee is not flat but rather cover various bands e.g. amounts from $200 to $249 incur a certain charge that is fixed throughout that band
• This fee also depends on the type of transaction involved e.g. send money, pay bill, pay merchant etc.
• Sometimes the fee depends on the party you are paying/who is receiving the money, for some bills you get a discounted fee. For others, such as sending money to an unregistered person you pay more.

There are also transaction limits that used to be generous and driven by user needs. However, due to rampant illegal foreign currency trading, the Reserve Bank of Zimbabwe’s Financial Intelligence Unit has gutted some of these limits to the point where they are now ridiculous.

Ecocash Fees

Bands		IMT Tax			Send Registered	Bill Payment	Pay Merchant
Lower Value ($)	Upper Value ($)	IMT (%)	Lower Value Tax($)	Upper Value Tax($)	Ecocash Tariff($)	Ecocash Tariff($)	Ecocash Tarrif($)
1.00	9.99	0	0.00	0.00	0.72	1.08	0.93
10.00	19.99	0	0.00	0.00	1.49	1.51	1.52
20.00	29.99	0	0.00	0.00	2.20	1.85	2.16
30.00	39.99	0	0.00	0.00	2.88	2.69	3.47
40.00	49.99	0	0.00	0.00	3.93	3.37	4.19
50.00	74.99	0	0.00	0.00	5.31	4.68	5.69
75.00	99.99	0	0.00	0.00	5.89	6.17	7.53
100.00	149.99	0	0.00	0.00	9.38	9.00	8.91
150.00	199.99	0	0.00	0.00	13.22	10.25	11.00
200.00	299.99	0	0.00	0.00	16.16	11.65	12.44
300.00	499.99	2	0.00	0.00	21.44	18.37	13.03
500.00	999.99	2	10.00	19.99	42.96	39.00	42.17
1000.00	1499.99	2	20.00	29.99	65.29	58.50	61.66
1500.00	1999.99	2	30.00	39.99	88.18	78.00	84.86
2000.00	2499.99	2	40.00	49.98	110.22	97.50	104.76
2500.00	2999.99	2	50.00	59.99	132.25	117.00	124.12
3000.00	5000.00	2	60.00	100.00	1.91%	1.85%	1.85%
5000.00	20000.00	2	100.00	400.00	–	1.85%	1.85%

• The 2% IMT tax now only applies to transactions above $500 ZWL
• Transaction values are still capped at $5 000 ZWL for sending money but they were lifted to $20 000 ZWL for bill payments and merchant payments. So when paying for goods or services at tills you can pay up to $20 000 ZWL. You can also pay up to $20 000 ZWL for things like ZESA bills etc.
• The means the weekly limit is $35 000 ZWL
• Wallet to bank charges are below

NB

• Cash-in is FREE
• Send Money Max $5 000 ZWL per transaction and $35 000 ZWL per week
• Pay Merchant and Pay Bill Max $20 000 ZWL per transaction
• Transactions for less than $1 are FREE
• Balance Inquiry $1.50 ZWL
• Bank To Wallet is Free
• Request Bank Balance $1.50 ZWL
• Request Bank Statement $1.50 ZWL

Bank To Wallet

Bank	Minimum Amount (ZWL$)	Charge for the transacted amount
First Capital	50.00	3%
ZB Bank	30.00	2%
Agribank	–	2%
NBS	40.00	2.5%
POSB	40.00	2.5%
Ecobank	–	–
FBC	–	3%
CBZ	10.00	5%
BancABC	10.00	2.5%
Stanbic Bank	50.00	2%
Steward Bank	–	–
NMB	20.00	2.5%
CABS	100.00	2%
Nedbank	30.00	1.5%

• Based on information ascertained by our friends at Techzim.

Other charges and limits

Transaction	Lower	Upper Value	Fees
Cash In	1	500	Free
Send Money to Registered Customer	1	5000	See Above
Send Money to Non Registered Customer	1	500	See Above
Merchant Payments	1	20 000	See Above
Bill Payments	1	10 000	See Above
Cash Out Unregistered	1	500	Free
Airtime Top-Up	2	500	Free
Airtime	2	500	Free
Balance Enquiry	N/A	N/A	1.50
Account History	N/A	N/A	1.50
Change PIN	N/A	N/A	Free
Bank to Wallet	1	1000	Free
Bank Balance Enquiry	N/A	N/A	1.50
Bank Statement	N/A	N/A	1.50

Monthly And Daily Limits

Customer Category	Monthly Limits		Daily Limits
	Old Limit	New Limit	Old Limit	New Limit
Customers linked to Bank/Debit Card	20 000	20 000	5 000	5 000
Customers linked to a Debit Card	35 000	35 000	10 000	10 000
Customers linked to a Bank	150 000	100 000	25 000	20 000
Executive Grade	250 000	250 000	30 000	30 000
Farmers Grade	300 000	100 000	50 000	20 000