People who receive money from their loved ones in the Diaspora should be glad to hear that CBZ has opened a Money Transfer Centre for their convenience. The Money Transfer Centre is an outlet by CBZ that's solely dedicated to serving people who want to collect money. This exclusiveness will enable people to collect their … Continue reading CBZ makes it faster to collect remittances with Money Transfer Centre
Last month, the Zimbabwe Republic Police (ZRP) warned businesses people who were rejecting bond notes. They have followed on their warning by prosecuting 106 businesspeople who were not accepting the country's legal tender. And of those 106 who were arrested, 28 are set to appear in court according to a Newsday report. police spokesperson Assistant … Continue reading ZRP arrests 102 businesspeople caught rejecting bond notes
Every time and again EcoCash revises transaction limits in response to regulatory pressure and economic developments. Recently, EcoCash transaction limits were arguably revised down to fend off pressures from the Reserve Bank of Zimbabwe. What was noteworthy when the new transaction limits were unveiled is certain two grades of customers that have larger limits that … Continue reading Who are EcoCash’s Executive Grade customers who enjoy higher transaction limits?
The second foreign currency auction has taken place today and it has established that the new official exchange rate is ZWL$63.74. This is an increase of ZWL$6.39 from last week's inaugural rate of ZWL$57.35 In other words, the Zimbabwe dollar has lost 11.14% from last week. The highest rate which was bid on the foreign … Continue reading 30/06: New official rate out, Zim dollar value down by 11%
If you were thinking about opening a bank account but you think it inconvenient to move around during the lockdown then you will be glad to know that Nedbank has a solution. Nedbank is now allowing existing and new customers to open bank accounts online without having to visit their physical branch. You can open … Continue reading Nedbank now allows you to open bank accounts online
EcoCash has revised transaction limits for several kinds of its customers. When it comes to transaction limits, EcoCash classifies customers according to several factors such as their holding of bank accounts and debit cards or the lack thereof. So, customers who have EcoCash accounts and bank accounts or debit cards have different limits to those … Continue reading EcoCash reduces transaction limits
CABS issued a notice announcing that individual customers can now do a maximum of 10 internal transfer transactions per day. CABS say the permitted 10 internal transfer transactions could be of any value. Dear Valued Customer, We wish to advise you that the limit for internal transfers on individual accounts is now 10 transfers of … Continue reading CABS impose internal transfer limits
The Reserve Bank of Zimbabwe has toned down the announcement made yesterday that suspended all monetary transactions on mobile money platforms. RBZ statement says that only agent transactions and bulk payment transactions will be suspended. Individuals will still be able to to send and receive money and make payments that have a cap of ZWL$5000 … Continue reading RBZ suspends Agent and Bulk transactions
What has just happened? Secretary of Information, Nick Mangwana instructed mobile money platforms and Zimbabwe Stock Exchange to suspend trading on their platforms. Nick Mangwana said the platforms are being used to stifle government's efforts to revive the economy, so as a result, they will conduct investigations to bring to book "economic saboteurs" a.k.a "wolves … Continue reading Frequently Asked Questions concerning suspension of mobile money transactions
Mobile money platforms have made light work of the government's statement which instructed mobile money platforms to suspend their services pending investigations.In statements, EcoCash, MyCash and OneMoney said they will not suspend transactions since they didn't receive a directive from their regulator, the Reserve bank of Zimbabwe. Therefore, customers have to continue using their platform … Continue reading Mobile money platforms dismiss government’s directive