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
| Bands | Use Cases | ||||
|---|---|---|---|---|---|
| Lower | Upper | Bill Payment | Send Money | Cash Out Registered | Pay Merchant |
| 1 | 1.99 | 0.038 | 0.11 | 0 | 0.03 |
| 2 | 5 | 0.62 | 0.16 | 0.44 | 0.26 |
| 5.01 | 10 | 0.9 | 0.44 | 0.72 | 0.53 |
| 10.01 | 20 | 1.15 | 0.92 | 1.35 | 0.88 |
| 20.01 | 29.99 | 1.56 | 1.38 | 2.04 | 1.27 |
| 30 | 39.99 | 1.93 | 1.67 | 2.8 | 1.88 |
| 40.01 | 50 | 2.76 | 2.31 | 3.59 | 2.3 |
| 50.01 | 60 | 3.58 | 3.16 | 4.74 | 3.1 |
| 60.01 | 75 | 4.22 | 3.51 | 5.57 | 3.87 |
| 75.01 | 100 | 4.74 | 4.74 | 7.94 | 4.16 |
| 100.01 | 150 | 5.39 | 6.12 | – | 4.74 |
| 150.01 | 200 | 1.70% | 7.23 | – | 5.01 |
| 200.01 | 299.99 | 1.70% | 7.92 | – | 5.65 |
| 300.01 | 399.99 | 1.70% | 8.4 | – | 6.45 |
| 400.01 | 500 | – | 9.53 | – | 7.11 |
| 500.01 | 600 | – | 1.80% | – | 1.70% |
| 600.01 | 700.005 | – | 1.80% | – | 1.70% |
| 700.01 | 800 | – | 1.80% | – | 1.70% |
| 800.01 | 900 | – | 1.80% | – | 1.70% |
| 900.01 | 1000 | – | 1.80% | – | 1.70% |
NB
- Cash-in is FREE
- Send Money Max $5 000 ZWL
- Pay Merchant Max $10 000 ZWL
- 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
Other charges and limits
| Transaction | Lower | Upper Value | Fees |
|---|---|---|---|
| Cash In | 1 | 500 | Free |
| Cash Out Registered | 1 | 100 | See Above |
| Send Money to Registered Customer | 1 | 5000 | See Above |
| Send Money to Non Registered Customer | 1 | 500 | See Above |
| Merchant Payments | 1 | 10 000 | 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 |
