MyCash has a new feature called Send2Cell that allows its users to send money to any mobile number using MyCash wallet. Users can send up to RTGS $1000 to their loved one who has either Netone, Econet and Telecel.
Wait! Of course, there’s the crowd favourite, EcoCash which you can already use to send money to any number but what makes Send2Cell steal the show is that it charges you a flat fee of 35 cents (excluding of the 2% tax) to send any amount of money (up to $1000). Whereas EcoCash fees increase as you transfer or send more money. For instance, the fees that Ecocash charges can run as high as $13.31 (excluding 2% tax) for sending RTGS $500 but with Send2Cell you will be charged just 35 cents (excluding 2% tax). Apparently, Send2Cell is ridiculously cheap.
Send And Receive
The money you’d want to send can be loaded in MyCash wallet using your bank account or a cash deposit at their red-branded Kiosks. And guess what? You can register for yourself to have a MyCash Wallet- it’s just a matter of dialling *212#. Just like how EcoCash gives you an option to withdraw the money as cash (cash out) so can you cash out the money received from a MyCash Send2Cell user, provided the cash is available at their Kiosks.
How to access it?
Nothing’s changed when it comes to accessing MyCash services. You can send money using Send2Cell by accessing MyCash’s USSD (*212#) menu or through their mobile app on play store.
How it works
You don’t necessarily need to be registered on MyCash to receive money from its existing user. An existing MyCash user simply sends you money and you get notified via text and you then get to register for the MyCash Wallet to ‘cash out’ or to start using the money you would have received. As MyCash puts it:
The MyCash sender selects Send2Cell on the main menu, enters the recipient’s mobile number, amount and sends funds. The recipient receives funds instantly and is notified through an automated SMS with instructions on how to redeem and start using the funds by registering on the Wallet. Once registered the receiver has access to the MyCash Wallet suite of services.
Yes, the convenience of having to send to any mobile number (Send2Cell) is certainly a drawcard for MyCash. But the 35 cents flat fee is even a huge selling point which I think will win the hearts of many people to come onboard. Ideally, anyone would choose to be charged just 35 cent’s (and the abominable 2% Mthuli tax) to send $ 500 than to pay the absurd fees EcoCash, OneMoney and Telecash charge us.
MyCash only needs its existing account holders to start using Send2Cell to send money to non-account holders so that more people migrate to its platform. MyCash is certainly leveraging on its existing customer base to make this thing work.