Some ECOCASH Agents Now Charging About 60% For Cash

Some Ecocash Agents are reportedly charging about 60% for every transaction conducted by their customers. These charges are outside the system hence unofficial.

The new charges mean that if one had $100 in his or her Ecocash wallet, they would get less than $50 in cash.

It is also worth noting that the charges vary for coins and notes. The coins which are now being rejected in some shops are cheaper than notes.

ZimPrice Check recently conducted a survey and noted that the black market cashout premium continues to go up due to cash shortages.

The cashout premium rates

Currency TypeCashout Premium
Bond Coins40% minimum
Bond Notes55% minimum

Here are some things to note:

  • These are just the unofficial premiums you have to pay to get cash, you will still have to pay the actual official cashout rates found here
  • This means the percentage worth of your money is actually worth even less when these charges are factored in
  • Higher amounts attract higher fees

Meanwhile, the National Business Council of Zimbabwe has given Ecocash a 48-hour ultimatum to “reign in their Agents”.

More: Zim Price Check

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