Telecash Tariffs – How Much do You Pay For Telecash Transaction
Do you use Telecash and were wondering what the Telecash Tariffs are? If that’s the case, you’re in the right place. In this article, we will cover the different charges you can expect to incur based on the transaction you make.
With the way that the public has taken to Ecocash, the leading mobile money service in Zimbabwe, it is no surprise that the other two Mobile Service Providers also launched their mobile money alternatives.
What Exactly is TeleCash?
Telecash is the mobile money response that Telecel brought to their customer base. Just like Ecocash, Telecash can move money from a registered user on their platform to another on the same platform whether registered or not. There are, however, limits to the amounts you can send someone who is not registered.
With Telecash, you can link your bank accounts and mobile wallet and move money between the two. Telecash also comes with a debit card which allows you to swipe at any Zimswitch enabled POS. When it comes to transaction charges, Telecash has lower charges than Ecocash.
Even though they are the smallest player on the Zimbabwean market by user base, their service compares favourably with Ecocash as well as OneMoney. They pretty much bring similar offerings to the market.
Disadvantages and Advantages of Telecash
The disadvantage of using Telecash is that the user base is small. This translates to having limited options when transacting outside the usual formal structures such as shops.
Telecel has around 1 million subscribers on its platform. Though this user base is relatively small when compared to the 2 other MNOs mobile money wallets, it does have some advantages to it.
In July of 2020, the Reserve Bank gave the directive for Zimswitch to become the national payments switch. This move made it possible to send money from mobile money wallet to another which was not possible before.
It also made it possible to send money from your mobile money wallet to a bank account through ZimSwitch. This, in a way, broadens the horizons for TeleCash well beyond their existing customer base. The subsequent effect of this is that more people are willing to take up TeleCash as a service.
The major disadvantage of sending mobile money across networks is the exorbitant transaction fees. Now. Let’s look at how much you can expect to pay when it comes to moving your money using TeleCash.
TeleCash Tariffs
Here is a table with the different tariffs you can expect to pay on TeleCash
| Range $ | Paying Bill | Sending Money | Bank to Wallet |
| 1.00 – 20.00 | 0.67 | 1.15 | 5.00 |
| 20.01 – 40.00 | 1.09 | 1.41 | 5.00 |
| 40.01 – 60.00 | 1.55 | 2.64 | 5.00 |
| 60.01 – 100.00 | 2.27 | 4.82 | 5.00 |
| 100.01 – 150.00 | 3.71 | 5.40 | 5.00 |
| 150.01 – 200.00 | 4.91 | 5.58 | 5.00 |
| 200.01 – 300.00 | 4.96 | 5.58 | 5.00 |
| 300.01 – 400.00 | 6.35 | 10.00 | 5.00 |
| 401.00 – 500.00 | 6.65 | 10.00 | 5.00 |
| 500.01 – 600.00 | 6.65 | 20.00 | 5.00 |
| 600.01 – 700.00 | 20.27 | 20.00 | 5.00 |
| 700.01 – 800.00 | 20.27 | 20.00 | 5.00 |
| 800.01 – 900.00 | 20.27 | 20.00 | 7.50 |
| 900.01 – 1000.00 | 20.27 | 20.00 | 15.00 |
| 1000.01 – 1499.00 | 20.27 | 30.00 | 20.00 |