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Here is Econet’s response to allegations of EcoCash agents selling cash

Econet Wireless HQ
   

Earlier we reported on Econet’s EcoCash agents “selling” cash. We received notice of the alleged misconduct after we wrote on the list of banks you can link your Ecocash wallet with, with disgruntled EcoCash wallet holders expressing discontent in the manner agents are handling the now rare cash commodity.

We reached out to Econet on the issue and they provided the following comment:

….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.

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Although it is the responsibility of agents to ensure that their agent business is liquid, EcoCash is playing an active role to link agents with the core support for liquidity.

Steward Bank offers low cost float loans to EcoCash agents and this offering has always assisted agents in remaining liquid.

In addition, we continue to explore ways to help our customers to have more choice and convenience through our increasing partnerships with various goods and service providers as EcoCash Merchants. That way, we are minimising the need for our customers to Cash-Out as they can now access goods and services all via their EcoCash wallets….

[Update]

We have also received notice that a message was sent out to Econet subscribers over the past weekend, the message read:

Urgent Notice. Please note that it is illegal for an EcoCash Agent to charge you extra on a Cash Out transaction. Call 114 to report such practices.

 


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