If you’ve been using your EcoCash Debit MasterCard to handle a number of international payments there’s a bit of bad news.
EcoCash has reduced the monthly transaction limit from US$5,000 to $1,100. This change was put into effect on the 10th of October 2016.
According to information that has been shared with some EcoCash Debit Card users, the new limits are for all types of payments (online and offline; local and international).
We sought comment from the RBZ and it’s yet to clarify on whether or not this is for all payment services (VISA, Mastercard), which institutions have been affected and how long the limits will be in place.
Services like the EcoCash MasterCard have enabled mobile money subscribers to pay for good and services from outside the country with money that is available in their mobile money wallets.
This has effectively extended international payments, which were previously for bank account holders, to the millions of mobile money users.
The card has also been a tool for Zimbabweans travelling abroad as they could access their EcoCash funds for payment of services in foreign countries.
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4 comments
The RBZ has done more to promote bitcoin than we have
RBZ never learns even from the days of Gono! You cannot control what is not yours. Every politician take turns to demonise USA and UK as evil colonialists which are driving neo-colonialim agenda. Fair enough, its our country, we do what we like and say what we want!
But stop using colonialists money ( why put rules to keep colonialists currency if you hate them, let it flow out, its evil and we become free)
Stop driving colonialists cars (recently buying police cars and ford rangers)
Stop flying their planes (All planes coming in an out of Zim Airport which are being used by our potilicians are all made by colonialists)
zimbabwe does not make their own bread clips let alone a car so if we do not us these cars what do we do, lets be realistic.
I’m affected by this sudden change , I left Zim on the 6th with all my cash in my wallet , how do I contact RBZ to have my card excerpted , I’m in China right now , I’m stuck