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EcoCash Lowers Its US Dollar Transfer Charges

EcoCash Lowers Its US Dollar Transfer Charges

EcoCash has reduced its US dollar transfer charges following the government’s reduction of the Intermediated Money Transfer Tax (IMTT) to 2%, down from 4% effective from 1 January 2023.

In a notice to its customers, EcoCash said the 2% tax only applies to transactions higher than US$5. It also said all cash-in transactions were free.

EcoCash US dollar transfers are done via the EcoCash US dollar wallet, accessible by dialling *153# on an EcoCash registered Econet line.

The EcoCash wallet allows users to cash in, cash out, send money, receive money, make payments and buy airtime in US dollars. A company spokesperson said:

The beauty about the EcoCash USD wallet is that there is no need to register a new wallet, as all existing registered EcoCash customers have the USD wallet by default on their profile, which is accessible by simply dialling *153#.

Cash-in can be done at Econet Shops, OK Supermarkets, and Steward Bank branches throughout the country, or at over 500 EcoCash branded merchant outlets across the country.

Following the reduction in transfer charges, a registered EcoCash customer will pay a total of US$0.33 (US$0.20 IMT tax, and US$0.13 EcoCash fee) when sending US$10.

Those cashing out US$10 will be charged US$0.17 in transaction charges.

Sending US$50 now attracts a 2% tax of US$1.00 and a US$0.65 transaction charge, bringing the total transfer fees to US$1.65, while those cashing out US$50 will be charged US$0.85.

Sending US$100 will cost US$3.30 – made up of US$2 in tax and US$1.30 in transaction fees. Cashing out US$100 attracts US$1.70 in charges. | The Herald

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18 Comments

6 days ago

Muchanyatsodzikisa kusvika chaipo chaipo


hats off 6 days ago

thank you for moving in line with gvt,s own reduction of taxes levied on your transactions


6 days ago

😂 They will give you $1 and take $10 😂

6 days ago

Takushandisa Access forex inongobatira atumira chete and iri cheaper izvi zvana ecocash nana mukuru itai mega


headless chicken 6 days ago

kana mukuru inongobatira atumira chete

Anonymous 6 days ago

Mthuli Ncube kwasara side rako rekubvisa 2% tax. Irikushandei for us... Buying solar and giving loans to the Sheiks...


6 days ago

why paying when I'm cashing out, imali vele ikhohlwa yilowo oyifakayo. The receiver shouldn't be paying a cent


6 days ago

The person serving you needs to be paid, so you need to pay something for the service offered

Tanaka 6 days ago

If I'm sending R100 to ecocash client, how much is he going to receive in RTGS?


Holy Ten lite 6 days ago

Mbavha izdi


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Mmmm 6 days ago

Why should I put usd into my account and pay tax when I can use cash and not pay tax + charges.


6 days ago

What do you do if you are in Bulawayo and you have cash but need to pay for something in Mutare in the next hour! Do you drive all the way to Mutare with your cash?

mu70 6 days ago

ndotumira neAccess iri cheap

5 days ago

Yes Access iri cheap but it still involves one depositing their money and paying taxes and fees/charges handiti?

Doug 6 days ago

Ecocash is working for the government. For every $10 sent, Ecocash gets 13cents government gets 20cents.


6 days ago

Shandisai city hooper


pluttt0 5 days ago

inbucks yakatonyanya kuchipa kutumira Mari anenge mahara ne simbisa brands


FH 3 days ago

How do l send money using access forex ndipeiwo info



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