Ecocash Charges – Understanding How Much You Pay
Ever wondered how much Ecocash charges for each transaction on their platform? With the number of transactions most of us make on Ecocash, it’s a good thing to know just how much of your money actually goes towards service charges for your various transactions.
In this article, we are going to look at this in-depth so you have a comprehensive understanding of just how big a dent each transaction is making in your pocket.
What are Ecocash charges?
Ecocash charges transaction fees based on the amount you are transferring. The charges are different when you are paying a bill, sending to a registered user or when paying a merchant. The table below gives you a breakdown of these fees.
| Range $ | Paying Bill | Sending Money | Paying Merchant |
| 1.00 – 9.99 | 1.03 | 0.68 | 0.89 |
| 10.00 -19.99 | 1.44 | 1.42 | 1.45 |
| 20.00 – 29.99 | 1.76 | 2.10 | 2.06 |
| 30.00 – 39.99 | 2.34 | 2.50 | 3.02 |
| 40.00 – 49.99 | 2.93 | 3.42 | 3.64 |
| 50.00 – 74.99 | 4.07 | 4.62 | 4.95 |
| 75.00 – 99.99 | 5.36 | 5.12 | 6.54 |
| 100.00 – 149.99 | 6.75 | 6.96 | 6.61 |
| 150.00 – 199.99 | 6.97 | 8.99 | 7.49 |
| 200.00 – 299.99 | 7.93 | 10.99 | 8.46 |
| 300.00 – 499.99 | 12.50 | 14.59 | 8.86 |
| 500.00 – 999.99 | 25.00 | 27.54 | 27.03 |
| 1000.00 – 1499.00 | 37.50 | 41.85 | 39.53 |
| 1500.00 – 1999.00 | 50.00 | 56.52 | 54.40 |
| 2000.00 – 2499.00 | 62.50 | 70.65 | 67.15 |
| 2500.00 – 2999.99 | 75.00 | 84.78 | 79.56 |
| 3000.00 – 5000.00 | 1.85% | 1.90% | 1.85% |
These are the transactional charges you can expect to pay each time you make a transfer or payment on Ecocash. There are also other service charges worth mentioning here. These are:
Balance Inquiry – $1.50
Bank Inquiry – $1.50
Account History – $1.50
Bank Statement – $1.50
What is Ecocash daily limit?
Ecocash also has in place some daily transaction limits. Ecocash used to have a daily limit of $5000. This was revised to $35000 per week. Though the weekly amount effectively hasn’t changed, what this new limit means is that you can exhaust your weekly limit in a day if you so wish. The caveat is that each transaction is limited to $5000. That means if you want to use up your $35000 weekly limit within the same day, you will need to do multiple transactions.
This gives the transacting public added flexibility as far as their transactions are concerned. The $5000 daily limits were introduced to curtail activities on the informal forex market but proved to be quite restrictive to the transacting public.
What is the monthly limit for EcoCash?
Since the weekly transactional limit is $35000, you can do about 4 of these transactions in a month meaning that you can move up to $140000 per month.
Ecocash Bank to Wallet Charges
One of the convenient features that were introduced on the Ecocash platform is the Bank to wallet function. It allows for the movement of funds between your Ecocash wallet and linked bank accounts.
Most banks in Zimbabwe currently have this capability. So, how much can you expect to be charged to move money from your Bank account to Ecocash wallet and the opposite? A bank to wallet transaction is free as far as Ecocash is concerned.
Your bank will, however, charge you a transaction fee ranging from 1.5% to 5% depending on the bank you use.