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#Finance

EcoCash guarantees USD plus an extra 7% incentive for receiving money from the diaspora

EcoCash remittance website
   

Like I said, I’m on a roll to help you save money. Actually, maybe we should call it the #cheapskate series, what do you think? 😉

Anyway, so EcoCash enables you to receive money from the diaspora in USD through the EcoCash Diaspora service. The sender however has to send the money any one of the below listed remittance service:

  1.  Worldremit

  2.  Mukuru

  3.  Call Home

  4.  MoneyGram

  5.  Cassava remit

  6.  Western union

  7.  MTN

  8.  Mama money

But here’s something to note, you’d need to cash out at an Econet shop to get it in USD otherwise agents will definitely give it to you in bonds not to mention the extra 25 -30% they will charge you for the cash out. You on the other hand might need the money in USD (to pay for DStv or something) so you’ll have to go buy it on the streets for another 15-20% more. Oops, forgot that was illegal now, so not bad since you now can go to the defined money transfer agencies and exchange your bonds for USD at a 1:1 rate (well, that’s according to Dr Mangudya).

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Also, if you add Afrocoin to that list, you will be able to get a 7% extra of the sent amount if sent via any of the above listed remittance platforms. This means if someone sends you $100 you will be able to receive it with an extra $7 (7% of $100) to make it $107.

However, this 7% extra only applies if both the sender and the receiver are registered on EcoCash.

 


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