After we published an article on the list of banks you can link with EcoCash last week a few of our readers alerted us to the practice of EcoCash agents “selling money” purposefully depriving the public access to money they rightfully deserve.
With 6 million subscribers, 26k agents, and 20k merchants, EcoCash has slowly become people’s primary banking option. The EcoCash mobile money ecosystem has been able to source and distribute millions of dollars in cash through its mobile appeal but is having its reputation tarnished by the illegal activities of some of its agents.
It has been alleged that agents are now in the habit of:
- Requesting payment in kind for service provided,
- Requesting kickbacks when providing you with cash outs,
- Providing cash-outs to only close associates, family, and friends,
- Harvesting cash to then sell to the highest bidders,
- “Spinning” cash on the illegal black market to gain maximum benefits.
….Our Agents are not allowed to charge customers any extra amount above the applicable approved Cash-Out tariffs automatically deducted from the phone. We encourage our customers to report such malpractices by advising us of the Agent Code on toll-free 114/111 or alerting their nearest Econet shop….