EcoCash Partners US Company to Offer Another Avenue to Send Funds to Zimbabwe
It’s been in the news but it’s not really new. However, if we all missed it when it happened then we might as well talk about it today. EcoCash partnered with Remitly, a US financial services provider.
Remitly is all about remittances as their name suggests. So, when EcoCash partnered with them it was to allow people living outside Zimbabwe, mostly Zimbabweans living abroad, to send money back home easily.
This means Remitly becomes one of the latest in a growing list of EcoCash partners that allows Zimbabweans abroad to send money home. The list includes big hitters like Moneygram, Western Union, and Xoom PayPal.
It is imperative that EcoCash keeps racking up these partnerships. The business of remittances is all about offering convenience for the sender. The more partners EcoCash gets, the higher the chances that a sender finds one most convenient for them.
Asking a would-be-sender to jump through hoops, join queues and fill out forms is one way to make sure they don’t as frequently as they would otherwise. We can’t have that, now can we? This Zimbabwean economy is built on those incoming remittances.
The recipient is not as particular about which service is used, to be honest. A recipient is not even fussy about the money coming in through their EcoCash account. If there is a branch close by, even from EcoCash’s rivals that can deliver the cash, very few would be opposed to using it.
The EcoCash Remitly partnership means the recipient can receive their money straight into their EcoCash account. Once it’s in there, they can withdraw or spend as they see fit.
EcoCash is not the only partner that Remitly has in Zimbabwe. They also have partnerships with Mukuru, ZB, and First Capital bank. You, as the recipient can choose whichever is most convenient to you too.
I know that most of us would be recipients but your benefactor would want to know how much Remitly charges. It depends on the amount being sent and how quickly they want the money sent.
To send up to $300, it costs $7 for the transfer to be made immediately. It costs $6 to have the funds arrive within 3-5 business days.
That’s what it costs the sender. Over here in Zimbabwe, you will have to deal with EcoCash’s own charges. The same goes for the other Remitly partners.