Ecocash Agents in Harare have reportedly started charging a staggering 100% to patrons looking for hard cash from them.
The agents are using ZIPIT, merchant lines, personal lines etc to perform cash-out transactions. One small business owner who confided to a WhatsApp group where Pricecheck is a participant said:
For small businesses like mine which require hard cash, we rely on those Rogue Ecocash Agents. Banning Cash out has worsened the situation, where I had to pay an extra 35% commission to get my cash via cash out, the agents are now requiring 100 % i.e if i send him $100 into his Ecocash wallet or Zipit account he gives me $50 in hard cash…
Its reported people are charging 100% for notes and 80% for coins. The situation was exasperated by the RBZ ban on mobile cash-in and cash-out transactions.