Mobile phone-based money transfer Ecocash, has more than doubled daily and monthly transaction limits.
In a statement released earlier today by Ecocash, customers with wallets linked to their bank accounts will now be able to make daily transactions worth ZW$10 000 from the previous ZW$5 000. Monthly limits have been moved from ZW$20 000 to ZW$50 000.
The daily transactions for those whose wallets are linked only to their debit cards remain unchanged at ZW$5 000, however, monthly transactions stand at ZW$25 000 from the old ZW$10 000.
Customers with wallets that are neither linked to their bank accounts or debit cards will transact daily ZW$2 000 from ZW$1 000 and on a monthly basis they can now carry out transactions of ZW$10 000 from ZW$3 000.
Transaction limits for merchant payments have been increased as well, with customers not linked to banks or debit cards having a limit of ZW$2 000, and ZW$3 000 for customers that have linked the wallets to either debit cards or bank accounts.