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Finally Standard Chartered Bank and EcoCash Are Linked

Standard Chartered Visa Card with US dollars

Users banking with StanChart are now able to link their bank account to their EcoCash account.

Until recently the wallets which could link with StanChart was OneMoney and Telecash which is quite surprising considering the fact that EcoCash is used by way more people than OneMoney and Telecash respectively. Anyway, StanChart is now fixing that. StanChart customers can now link their bank account to their mobile money wallet.

Message sent from StanChart to users notifying them

This move now allows users who are banking with StanChart to transfer funds from their bank to their EcoCash wallet and vice-versa.

With this move, EcoCash is now linked to 11 banks. You would naturally think they have the most partnerships but Telecash is actually linked to more banks as it is currently partnered with 13 banks.

The cash crisis has made these partnerships much more important as people no longer have easy access to cash and have become more reliant on mobile money services to make purchases. The move will no doubt make it easier to deal with the cash shortages that have been pummeling the country over the past several months.


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31 thoughts on “Finally Standard Chartered Bank and EcoCash Are Linked

  1. I don’t understand why Zimbabweans do not want to accept that zim got money but no cash.
    I am based in South Africa but when ever I go home Zim I use ecocash. Mobile money is not going anywhere. Let’s educate our parents and kids about mobile money.
    It possible to survive in Zim by mobile money transactions.
    It is even cheaper now to send mobile money to Zim than sending cash. All major institutions in Zim take mobile money.
    This issue of shortage of cash is must not longer be relevant to ordinary Zimbabweans. If banks and mobile network including Reserve Bank can run a campaign that everyone with a Zim ID document must make sure that their ID is linked to mobile wallet . All service providers must be pushed to have merchant numbers. This must be a government driven initiative.

    1. That is an excellent idea. I have suggested it countless myself. We will not get rid of cash for the sake of those few who don’t have phones.

    2. YOU DONT GET IT.

      Zim doesnt have money. It has figures and bank balances. these balances cnt buy anything outside Zim.

      1. I dont think that is important anywhere, if council needs electricity and zesa+employees need parking and water/refuse collection i dont understand why we need to import US dollars to do that

    3. I think people are willing to move away from cash altogether. The problem we have is not an addiction to using cash, rather, it’s the need to get cash for imports. At the end of the day we all need to import/pay for a service outside the country. Untill we solve this issue, there will always be a demand for cash. The other problem is the 3-tier pricing system, it’s driving the demand for cash

  2. guys on another note, Stanchart have disabled VISA card international use both on POS terminals and online from about 3 weeks ago. before you had to fill in a form for it to be activated, but it has all been stopped now.

    1. Maybe i am confused by the dates but last time I checked there was a $100 limit for which no forms were required which I made use of like 2 weeks ago. So maybe you are right or there is something going on with your card.

      1. possibly its just me for online use, but i was at the bank just a few days ago to fill in the forms for outside of Zim travel and they have said its no longer being allowed.. and that was without them even checking my account details or anything.

        however, you might find your next $100 transaction online won’t work. let me know.

      2. True, Stanchart has disabled VISA card international, my card is nolonger transacting online, I used it until the 28th of February, after that I could nolonger use it. Garikai did you use the card this month?

        1. No it was around 27 February. I guess its true then but then I have always had contingencies. My surprise really is that it took this long for this to happen given the situation in this country.

          1. i understand that it took them a long time to do, however, notice would’ve been good. and this is what i told them…. that when things stabilise again in this country, we will not forget how these banks have messed us around. this is the second time we’ve been abused like this.

        2. Check with your bank and card, because l just finished using mine online today 03 April 2018 at 14:15hrs it was very smooth

    2. I think your has a problem… I purchased somethin online just 2 days ago…. i think there is a monthly limit only.

  3. Ndine mubvunzo.. Suppose this cash crisis is cured and goes away..whats next, what happens to all these intergrations, what now becomes the new relevancy..?? I see an anticlimax to all these…someone seriously needs to plan ahead…

    1. Even if the cash crisis goes away for some reason people are going to stick with electronic methods of payment given their convenience. Only micro/small transactions will still require people to use cash. How do I know this? It has already happened in developed countries. You don’t see people hauling sacks of cash to pay rent in the U.S, UK and Germany.

    2. Globally all governments are moving away from Cash and electronic money as it helps formalizing the economy and fighting corruption.

    3. I invite you to Kenya where mobile money was nurtured and most likely birthed. There’s no cash crisis but almost everybody that holds an ID has a mobile wallet.
      All interlinked with bank accounts where one can borrow and transact widely..

  4. can stanchat now zip money to other wallets or l can only tranfer my funds to my personal wallet

  5. Zimbabwe’s problem isn’t even lack of cash anymore – plastic money got us covered. The real problem is lack of forex. We heavily rely on importing and without the forex, we will always be in trouble until we reach that point where we export more than we import.

  6. Why do people even use EcoCash? It is so expensive. The key to financial inclusion is interoperability coupled with low costs. Payment service providers like MyCash and Telecash, enable you to send money to any other bank or PSP (except Ecocash. I can send up to $1,000 with a MyCash account for $0.25. If I Zipit to another bank, it is a max of $1.00. And I can swipe anywhere with MyCash. People need low cost, reliable solutions. MyCash is by far the best solution out there.

    1. StanChart does not receive using ZIPIT! Plus it’s a case of having been there first. Telecash is cool and all but its about being able to pay other people. Also ZIPIT charges vary according to bank StanChart charges $2 per transaction.

  7. I’ve been using my cash for a longtime and even put all my workers on it… Works wonderfully and note with store to ecocash… Highly recommend

    And secondly I personally want cash so it’s not in the bank… And I can buy Forex and I can get discounts.. Multiple reasons really… Cash is king in Zimbabwe… Elsewhere it’s different… Here things are to volatile… The cash in taking out is savings not spending

  8. I got the accounts with different banks… Hands down Barclays is the worst in charge service etc…I prefer to use my Mycah account over them… Luckily swipe to ecocash has saved us from their greedy hands…I mean seriously you can only swipe and RTGS with this account for 5$… They don’t give USD they don’t zipit or ecocash… Their staff are hopeless… Cbz bankabc have more options and at least their staff are better…

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