Since it was introduced Ecocash, has always charged it’s 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 which used to be generous and driven by user needs. However, due to rampart 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

BandsIMT TaxSend RegisteredBill PaymentPay Merchant
Lower Value ($)Upper Value ($)IMT (%)Lower Value Tax($)Upper Value Tax($)Ecocash Tariff($)Ecocash Tariff($)Ecocash Tarrif($)
1.009.9900.000.000.681.030.89
10.0019.9900.000.001.421.441.45
20.0029.9900.000.002.101.762.06
30.0039.9900.000.002.632.463.17
40.0049.9900.000.003.933.374.19
50.0074.9900.000.005.314.685.69
75.0099.9900.000.005.896.177.53
100.00149.9900.000.008.017.767.61
150.00199.9900.000.0011.068.579.21
200.00299.9900.000.0013.529.7510.41
300.00499.9920.000.0017.8715.3110.86
500.00999.99210.0019.9934.4319.9933.79
1000.001499.99220.0029.9952.3146.8849.31
1500.001999.99230.0039.9973.4865.0070.72
2000.002499.99240.0049.9891.8581.2587.30
2500.002999.99250.0059.99110.2197.50103.4
3000.005000.00260.00100.001.91%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
  • However you can do up to 7 of these transactions per week
  • This means the weekly limit is $35 000 ZWL
  • Wallet to bank charges are below

Old Tariffs Before 14 January

BandsIMT TaxSend RegisteredBill PaymentPay Merchant
Lower Value ($)Upper Value ($)IMT (%)Lower Value Tax($)Upper Value Tax($)Ecocash Tariff($)Ecocash Tariff($)Ecocash Tarrif($)
1.009.9900.000.000.681.030.89
10.0019.9900.000.001.421.441.45
20.0029.9900.000.002.101.762.06
30.0039.9900.000.002.502.343.02
40.0049.9900.000.003.422.933.64
50.0074.9900.000.004.624.074.95
75.0099.9900.000.005.125.366.54
100.00149.9900.000.006.966.756.61
150.00199.9900.000.008.996.977.49
200.00299.9900.000.0010.997.938.46
300.00499.9926.009.9914.5912.508.86
500.00999.99210.0019.9927.5425.0027.03
1000.001499.99220.0029.9941.8537.5039.53
1500.001999.99230.0039.9956.5250.0054.40
2000.002499.99240.0049.9870.6562.5067.15
2500.002999.99250.0059.9984.7875.0079.56
3000.005000.00260.00100.001.90%1.85%1.85%

NB

  • Cash-in is FREE
  • Send Money Max $5 000 ZWL per transaction and $35 000 ZWL per week
  • Pay Merchant Max $5 000 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

BankMinimun Amount (ZWL$)Charge for the transacted amount
First Capital50.003%
ZB Bank30.002%
Agribank2%
NBS40.002.5%
POSB40.002.5%
Ecobank
FBC3%
CBZ10.005%
BancABC10.002.5%
Stanbic Bank50.002%
Steward Bank
NMB20.002.5%
CABS100.002%
Nedbank30.001.5%

Other charges and limits

 TransactionLowerUpper ValueFees
Cash In1500 Free
Cash Out Registered1100 See Above
Send Money to Registered Customer15000 See Above
Send Money to Non Registered Customer1500 See Above
Merchant Payments110 000See Above
Bill Payments110 000See Above
Cash Out Unregistered1500 Free
Airtime Top-Up2500 Free
Airtime2500Free
Balance EnquiryN/AN/A1.50
Account HistoryN/AN/A1.50
Change PINN/AN/AFree
Bank to Wallet11000Free
Bank Balance EnquiryN/AN/A1.50
Bank StatementN/AN/A1.50

Monthly And Daily Limits

Customer CategoryMonthly LimitsDaily Limits
Old LimitNew LimitOld LimitNew Limit
Customers linked to Bank/Debit Card20 00020 0005 0005 000
Customers linked to a Debit Card35 00035 00010 00010 000
Customers linked to a Bank150 000100 00025 00020 000
Executive Grade250 000250 00030 00030 000
Farmers Grade300 000100 00050 00020 000