For some time now, since launch actually, Ecocash have been limiting their customers to a monthly transaction limit of $3,000 per month and $1,000 per day.
Some of us may not have noticed this, well, because we never really transacted with those kinds of monies.
Up until last year, that is.
See, with the coming of the ‘cash crisis‘ Ecocash has been proving to be one of the easier ways for one to make a payment. No 48-72 hr delays like RTGS and just about everyone has an Ecocash wallet, as opposed to ZIPIT that relies on both parties having bank account, from banks that are connected to the ZIPIT portal.
Well, in a message sent out to customers this morning, Ecocash advises that the transacting thresholds have been upped to $5,000 per day and $20,000 per month.
None of us here at Techzim have managed to reach the previous monthly limit, but came close a few times but this will likely be a welcome relief for a number of traders who have defaulted to the mobile money payment platform.
The raising of this limit does not require any customer to do anything on their part, as it is a blanket application to all users. If, you have not defaulted to Ecocash as your means of payments (oh, by the way, every Thursday you can pay an Ecocash Merchant for free, well 5c actually, in a promotion that they’re running).
Sadly, it can be seen from the SMS that this is only for transactions in Zimbabwe, so the limits that apply online and out the country still apply.
Techzim have reached out to Ecocash to find out whether this increase in limits affects bank to wallet (and vice versa) limits as well and will update when a response is given.
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