A new player, Bitkesh has entered the scene of remittances and it’s selling point is “free of charge”. However as I explained yesterday, Bitkesh is not necessarily ‘free’, but its charges/fees are hidden in its Rand/RTGS dollars exchange rate mechanism.
How long does it take for the recipient to receive money
During business hours it takes 30 mins to an hour, after hours it takes up to 2 hours
When will the money reflect in my Bitkesh wallet (when I transfer it from South African Bank account)
All deposits above R150 should reflect within 5 mins of depositing. Amounts of R150 and less kindly contact a consultant via the app (top right corner on the homepage) for manual crediting.
What happens if I make a small deposit?
If you make a deposit of R150 or less kindly contact a consultant for a manual credit as the system does not pick up such amounts.
Who determines the rate?
We have technicians that fix the rate according to the prevailing market conditions.
What are the charges/fees?
There are no charges or hidden costs, we just use a rate, which constantly changes.
Can a recepient in Zimbabwe receive USD or cash?
At the moment we do not transact in cash and all money is received in RTGS$ via ecocash/zipit.
Can Bitkesh be used to send money anywhere in South Africa?
At the moment Bitkesh only support Zimbabwe and South Africa but keep watching our website for more countries in the near future.
If I send money from Zimbabwe to South Africa, does the recipient receive the money immediately?
What do you need to send money using Bitkesh?
Currently Bitkesh banks with FNB, Standard Bank and Absa. Transactions done to any other banks will take up 72 business hours unless the amount is above ZAR3000 or the client pays the bank charge of R50 for an instant payment. Please also note Standard to Standard transfers may take anything from 30 minutes up to 24 business hours. These conditions are stipulated by the mentioned banks and are beyond our control.
How do I send money?
You just need to download and register on the Bitkesh mobile/web app and you are ready to transact. Registration requires an operational mobile number, valid email address and a profile picture.
Where are you located?
Johannesburg office is on 9th Floor, Atrium on 5th at Sandton City, 83 Rivonia Road Sandhurt. Harare office is in Suite 4 Cyrex Offices, Level 12, Joina City.
2 comments
What I want to which is the biggest scam out. Why were our bank balances not converted ? They were rightfully in USD? But ZOL, Telone and more have all scammed us.
sounds like a lot of boolsh!t to me, Even the name bitkesh sounds like a fcucing pyramid scheme !!