Home Business Update: Here are the new EcoCash transaction limits

Update: Here are the new EcoCash transaction limits

EcoCash-Agent

Update: Here are the new EcoCash transaction limits. The new EcoCash transaction limits were set after the mobile money company consulted with the Reserve Bank of Zimbabwe (RBZ), the regulator for all financial institutions.

The country’s biggest mobile money company, Ecocash has increased the transaction limits consumer transactions, as the Zimbabwe dollar continues plummeting against all major currencies.

While the new EcoCash transaction limits are not exactly in line with inflation, they will provide relief for the transacting public, which was now being forced to make multiple transactions when making payments due to the previous limits which had become untenable. The new limits are as below;

Sending money (peer to peer)

EcoCash users can now send ZWL$5, 000 per transaction instead of the previous ZWL$1, 000 per transaction.

Merchant payment

EcoCash users can now make a payment to a merchant of ZWL$10, 000 per transaction instead of the previous ZWL$3, 000 per transaction.

Bill payments

EcoCash users can now make a payment of a bill of ZWL$10, 000 per transaction instead of the previous limit of ZWL$2, 000 per transaction.

Daily limits

EcoCash users who are linked to a debit card now have a limit of ZWL$10, 000 per day. This is a 100 percent increase from the previous daily limit of ZWL$5 000.

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Ecocash users with their EcoCash linked to a bank account can transact for up to ZWL$25, 000 per day from the previous limit of ZWL$10, 000 per day.

EcoCash has also introduced what they term the “Executive Grade” who have a daily limit of ZWL$30, 000 per day. It is not yet clear, what the requirements are for a customer to be in the Executive Grade.

However, for EcocCash customers who are not linked to a debit card or a bank account, the transaction limits stand at only ZWL$5 000 per day. This is still a 150 percent increase from the previous limit of ZWL$2, 000 per day.

Monthly limits

EcoCash users who are linked to a debit card now have a limit of ZWL$35, 000 per month. This is a ZWL$10, 000 increase from the previous monthly limit of ZWL$25, 000.

Ecocash users with their EcoCash linked to a bank account can transact for up to a massive ZWL$150, 000 per month from the previous limit of ZWL$50, 000 per month.

Those in the Executive Grade have a monthly limit of ZWL$250, 00o.

However, for EcocCash customers who are not linked to a debit card or a bank account, the transaction limits stand at only ZWL$20 000 per month. This is still a 100 percent increase from the previous limit of ZWL$10, 000 per month.

Source – iHarare

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