Up, up, up and everything goes up. EcoCash silently increased the wallet-to-bank charges from $1 to $2. The wallet-to-bank transaction allows EcoCash holders to move money from the mobile money platform to into their bank account.
In another words, the wallet-to-bank transaction moves money from the EcoCash ecosystem to the banking ecosystem which is not in the best interest of Econet as I once pointed out. By increasing cost of doing this transaction, EcoCash is encouraging users to keep their moolah in it’s ecosystem.
The only good news I have is that the charge is still a flat fee regardless of how much you move from EcoCash into your bank. That means that even if you want to move $3 or $500 from EcoCash into your bank account, you are still charged a flat fee of $2. By the way, the maximum amount of money you can individually move from EcoCash to into your bank account is still $500. If you want to move more than $500 then you gonna have to move it in batches. How tedious.