Ecocash announces new ZWL transaction limits

Ecocash, Zimbabwe's major mobile money service provider, has alerted its clients via SMS that new transaction limitations will be enforced on July 28, 2023.

Customers can now send up to ZWL 3 million for each transaction and up to ZWL 10 million per month utilizing the Ecocash platform, according to Ecocash. The prior restrictions of ZWL 1.5 million per transaction and ZWL 3 million per month have been increased significantly.

Customers can now transfer up to ZWL 8 million from their bank accounts to their Ecocash wallets every transaction and up to ZWL 25 million per month. This is also a significant rise from the previous ZWL 2 million per transaction and ZWL 10 million per month restrictions.

In the current hyperinflationary context, these expanded restrictions are required to assist Ecocash users in transacting larger sums, adding convenience to the market.