Just went through the Telecel website, and I was surprised that Telecash actually offers some really essential services that EcoCash still doesn’t offer. Why the surprise? Well because to date, Telecash and OneMoney still share the remaining 10% or less of all mobile money transactions while EcoCash scoops the rest.
Amongst the many reasons one can come up with for this phenomenon, mine would just simply be on marketing. I personally think it’s probably only the already existing Telecash customers that know of these services but should that be the case? People should be informed so they make the decision and not be informed only after making the decision, no?
Anyway, because I know we are in tough times cash-wise, I’d rather people know how to save their money in as many ways as impossible; then, at least it’s at their discretion as to whether they go with them or not. I already gained the ‘cheapskate’ title when I wrote an on how one can still buy airtime for less than a dollar using EcoCash regardless of the new set minimum of a $1 a few days back, so hey I might as well roll with it…?
So turns out Telecash is integrated with ZIPIT (a Zimswitch facility) and has been for years. This means you can send money directly from a Telecash account to the select 19 banks/platforms listed on ZIPIT including Onemari (OneMoney). I know you wanna know the rest of the 18 banks, well, you’ll know them in a minute just after I finish explaining this.
So the difference now with Telecash and EcoCash is that with EcoCash you can only directly send money to a bank account that you register on the platform, which is likely your own bank account. This then means if you want to send money to someone’s bank account from an EcoCash wallet, you’d have to transfer it to the account you registered 1st and finally transfer it to the intended bank account from there.
Now with Telecash, all you need to do is to follow the steps below and send it directly from your wallet to the intended bank account (no need for a middleman) and also, the account you send it to does not necessarily have to be your own bank account. Here is how to do it:
Select option 6: Banking services
Select option 1: ZIPIT-Wallet to bank
Choose the bank you want to send to
Enter the account number you want to send the money to
Enter your Telecash pin
The process saves on time, is convenient and of course saves you a few cents.
Oh and the list of banks/platforms are as follows:
- FBC BUILDING SOCIETY
- ZB BANK
- POSB MFS MYCASH CARD
- NMB BANK
- Stanbic BANK
- African Century Ltd
- Barclays bank
- FBC OneWallet
- Metropolitan Bank
- Steward bank
The second thing of interested is that with Telecash, you can send airtime to a phone on any mobile network in the country. Not so with EcoCash. EcoCash allows you to send airtime to Econet subscribers only.
You’re probably now wondering about One Money, well, the article on their new debit card will cover all that. But for now, does this information change anything??