Earlier this month, EcoCash announced that the deadline for moving funds for multiple account holders to one account was going to be 6 September. It seems a significant number of people missed the initial deadline and so they’ve extended it to the 25th.
EcoCash users with multiple accounts will have to move them to a single primary account – by following this simple process;
- Dial *150#
- Select option 3 (EcoCash Line Selection)
- Select your primary EcoCash wallet to keep
EcoCash has said that all second EcoCash lines will be deleted from the system after the 25th of September. The mobile money company also said they will be facilitating change of line ownerships before the 25th so that customers can regularise their EcoCash accounts.
The closure of EcoCash accounts is in line with a regulatory directive issued out by the RBZ a month ago which barred the operation of more than one mobile money wallet for individuals. The banning of multiple wallets was effected because money changers were using their multiple lines to get around mobile money limits effected to dissuade money laundering:
Following the suspension and freezing of agent and bulk-payer wallets on 27 June 2020, mobile money operators have allowed illegal foreign currency dealers to use multiple individual wallets as a means to bypass the transaction limits and continue with their illicit transactions.