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Zimbabwean mobile money platform reduces withdrawal limit

Xinhua, February 11, 2017 Adjust font size:

Zimbabwean mobile money platform EcoCash on Friday reduced the monthly transaction limit for its MasterCard debit card from 500 U.S. dollars to 400 dollars as cash shortage persists in the country.

This is latest reduction following another one in December when the limit was slashed to 500 dollars from 1,100 dollars.

Zimbabwe has endured cash shortages for several years, now forcing banks to limit withdrawals to paltry sums.

The Standard Chartered Bank has also terminated the use of its Visa cards internationally due to the cash shortage and depleted nostro accounts. Endit