“Our Shops Usually Have Cash, For Cash Outs” – EcoCash

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Posted by Read 19 Comments

If you just crawled out from under a rock and been there for a year, welcome.

A lot has happened over the past twelve months, from Zimbabwe introducing “its own currency” (the bond note) to NetOne rebranding their mobile money service OneWallet to OneMoney. What has been most interesting however has been the cash crisis that Zimbabwe’s been going through and how cash has been difficult to come by.

Ecocash, Zimbabwe’s largest mobile money solution, that processes 98% of the mobile money transactions locally, has been faced with a few challenges as they become a victim of their own success. Chief among these challenges is the failure for its customers to get their hands on cash and EcoCash’s agents charging a premium to those wanting to cash-out.

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EcoCash has come out stating this is ‘illegal’ and anyone made to pay more than the stipulated EcoCash transaction fee should report that Agent and/or Merchant and they’ll take action.

Customers have been caught between not paying this premium that’s demanded or going somewhere where cash is available.

Sadly, cash has been elusive and so many people just give in and pay the premium and go on about their business.

EcoCash, at least through their Facebook page, has advised what customers should do in order to get their hands on cash from the service. Said an EcoCash Customer Care Agent (emphasis mine):

Please be advised that EcoCash has no charges outside the ones on our tariff charts. Please do not accept to pay the extra fee as this is the only way to stop this practice. Kindly note that Econet shops often have cash for cash-out transactions. Kindly visit your nearest Econet shop and ask the usual times they have cash so that you can also be able to access it. ^TS

This is different to those who will be sent cash from outside the country as EcoCash has guaranteed that they will receive cash, in the form of US dollars together with a 7% bonus in bond notes.

No attempts have been made by Techzim to establish how true this is, however, if research from the last couple of months is anything to go by this is all smoke and mirrors, as practice on the ground shows otherwise.

Things may have changed though, so we’ll extend the benefit of the doubt to them and advise you that should you need cash out of your EcoCash wallet, from money that was transferred by someone locally, then go to an Econet shop and ask them their dates and times when they will have cash. Better yet, if you could come into the comments and advise where and when you managed to get cash without needing to pay a premium for withdrawals, that would be awesome.

What I’m really interested to know, however, is why you need cash? What would you like to pay for that does not accept ‘swipe’ and/or EcoCash? If you could pay this expense with ‘plastic money’ would you still need cash?

 

EcoCashBond NotesEconet

EcoCash is a mobile money transfer facility which is run by Econet Wireless Zimbabwe. The facility has grown in leaps and bounds since its inception and is arguably the largest mobile money transfer agent considering the huge sums of transactions that the platform is said... Read More About EcoCash

Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes

Econet Wireless Zimbabwe, a subsidiary of Econet Wireless International, is the first and largest mobile network services provider in Zimbabwe. The telecoms giant became popular with its products and services such as Buddie. It has established branches in different corners of the country and enjoys... Read More About Econet

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19 Comments

  1. Zaniest Zimbabwean says:

    Things like madomasi, ice cream, chibage, kupa vana mai kumusha mari etc, it just has to be hard cash

    1. William Chui says:

      But can vegetables not be bought in a shop? And do the vendors that you’d be trying to buy from not accept EcoCash?

      To send money to ‘vana mai kumusha’ what will she be needing cash for? What kind of payments will she be making?

      1. TtD says:

        Hausi kurarama munyika ino kasi uno driver kai, ecocash sends minimum of $1, saka urikuti combie iite dollar,

        1. juma says:

          ndovacho varikubva pasi pematombo

    2. wacpop says:

      …madomasi, ice cream, chibage, (vana mai kumusha are now using ecocash for chigayo) etc…one can pay using ecocash for all these!

  2. Pissed off says:

    No Kombi accepts ecocash,
    No vendor accepts ecocash
    Chineese shops are cheaper but no ecocash
    Lobola doesn’t use ecocash or swipe
    Sometimes swipe is offline
    Most shops no longer accept ecocash
    Kotamai doesnt take ecocash
    Service stations swipe oftenly offline

    Swipe and ecocash just sucks sometimes

    1. Julius says:

      Hey it’s true

  3. Mau Mau says:

    Received cash today from econet shop in Chinhoyi without being charged extra.

    1. Mfundisi says:

      Lucky ,they usually say hatina mari

  4. Observer says:

    kombis dont take Ecocash and my kid needs $1 everyday for lunch.

  5. kim says:

    Guys lets be realistic, coverage is till limited in many areas. In some instances you have to climb a mountain to get network. Cash yagara inotodiwa

  6. patriot says:

    cash is king, its just expensive to do these everyday small transactions you end up parting ways with a few dollars as transaction charges. (2%+0.05) for every transaction under $50 is just too much.

  7. Faith says:

    I agree with pissed off.

  8. Faith says:

    If the system of plastic money is going to be viable. proper measures need to be put in place ,for starters; working swipe machines that are not always offline.

  9. TtD says:

    Combie chibaba, madomasi

  10. Okech says:

    Why do you ask me why I need cash when it is my money to do what I want with it and at anytime?

  11. Cheated says:

    Easy I want to buy forex to replenish my stock… Travel outside Zim… Secondly there’s no extra charge on cash… Just yesterday after complaining to my bank I found out that Cbz for coporate accounts charges $30 for 20 transaction…. After that the charges go up… And that’s for any transaction in and out…I got a swipe so for every swipe im paying… Plus can you beige this 10 for internet banking…. Then there’s the econet charges…I prefer cash where there’s no charges… And secondly why should I save in Zim dollars… I’ve been saving in USD for a long time… We all need cash to save on charges… If I have to pay a supplier 20 …I pay money on that… And don’t act like you going to leave your savings in ecocash… No verbify whatsoever

  12. Joshua Chisango says:

    I’m in Bulawayo uye ndingafara chose mukandipa mazita ema outlets arikupa cash acho? Econet Robert Mugabe haina cent so tibatsirei nemazita acho. Regai kunyepera vanhu

  13. Helen says:

    How do you join?

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