InnBucks Introduces 1% Withdrawal Fee While Maintaining Affordable Transaction Options

InnBucks, one of Zimbabwe’s leading digital wallet services, has announced a minor update to its business terms effective December 4, 2024. The new terms include the introduction of a 1% cash withdrawal fee, while the rest of the platform’s offerings remain accessible for a flat rate of $1 per month. This move underscores the platform’s commitment to providing affordable and inclusive financial solutions, even as it adjusts to operational realities.

InnBucks has been a trusted service for enabling convenient financial transactions in Zimbabwe, allowing users to send, receive, and save money, as well as pay for utilities such as ZESA and other bills. The platform has also become a go-to solution for purchasing airtime and facilitating ZIPIT transfers. By consolidating these essential services into a single wallet, InnBucks has positioned itself as a key player in the country’s drive toward a cashless economy.

The new withdrawal fee comes just months after InnBucks introduced a one dollar a month fee , which covers unlimited transactions aside from cash. The newly added 1% withdrawal fee is expected to encourage customers to take advantage of the platform’s comprehensive digital offerings, further reducing dependence on physical cash.

Customers can also transfer money to InnBucks from banks such Stanbic, CABS, FBC, POSB O’Mari and MyCash.

As Zimbabwe continues to embrace digital finance solutions, InnBucks remains at the forefront, adapting its services to meet the evolving needs of its users.