EcoCash, Zimbabwe’s largest mobile money platform, will now let you cash in and cash out in South African Rands at all its agents accross the country.
The new service is aimed at bringing convenience and choice to its 6 million customers by leveraging the existing major trade relationship between Zimbabwe and South Africa.
Why Multi Currency?
According to EcoCash the new service will:
- Fullfill the RBZ drive for a multi currency economy
- increase liquidity, stimulate agent and merchant business
- create flexibility of customer choice in multi currency system
What is the Rand Wallet?
- A mobile wallet that allows its customers to Cash in and Cash out, Send Money, Access Payroll and Bulk payer, pay merchant and pay bills using South African rands
- the Rand wallet is a separate account
- when you perform a cash in Rands, you can not Cash Out in USD or vice versa
- money cannot be transferred from one wallet to the other (USD to Rand)
Here are the EcoCash Rand Wallet Rates: 
Now read: How to enable EcoCash Rand Account as a normal customer and EcoCash wants you to use its Rand Account for salaries, cash in/out, sending money and later for paying your DSTV and ZESA tokens, and yes its approved by RBZ!
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11 comments
Do you know if this feature is also open to Ecocash Merchants or if it’s just for agents.
Hi Kembo
It’s for Merchants as well
Brilliant idea I hope rbz won’t throw spanners
Approved by RBZ, they had a representative there filling in for the Govener
this has been around for a while now. yawn.
does anyone from techzim ever check the USSD menu structures?
We will look into hiring someone who does just that, all day, everyday:)
The thing is – the multi currency wallet has been there for 3 months plus!
So for you to bring us the news because ecocash sent a press release is not really cutting edge journalism. We want to know before it happens!!!
How much are you offering, I use Ecocash in numerous scenario’s i could write a white paper or two for you LOL 😉
Noted
Can I use my MasterCard in s.a having cashed in with rands here? That would be super convenient
Personally I can’t see the point in your relief. Mastercard offers total convertibility across all currencies ; something not available with this wallet
ANT LIMITS OF CASH OUT