Freshly RBZ approved Access Forex gave us a tour of their ZITF2022 Booth

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Access Forex Paytumi, USSD, ZITF2022

Earlier this week we reported on Access Forex getting Reserve Bank of Zimbabwe (RBZ) approval to resume domestic (city to city) remittances. During our travels at the Zimbabwe International Trade Fair (ZITF2022), we got a chance to talk to Shingai J. Koti, the Chief Marketing Officer at Access Forex. She was also kind enough to give us a tour of their stand at ZITF2022. Additionally, Access Forex debuted its mobile application at ZITF2022 on iOS and Android.

You can check out Access Forex’s booth at the Zimbabwe International Trade Fair (ZITF2022) with the player below. Alternatively, you can watch it directly on YouTube with the link here

For those who might be wondering, Access Forex charges 3% for domestic remittances and 8.5% for international money transfers. This puts them in and around what the rest of the competition is charging on both fronts.

International remittance services fees

Countries ServedService Fees to ZimbabwePick up points
EcoCash Cassava RemitSouth Africa

(also works with Western Union Moneygram and World Remit for other territories)
1.7% (for the equivalent in Rands of US$100)Steward Bank and Econet Shops
SenditooUnited KingdomGBP 2.99BancABC Branches, Pick’n’Pay BancABC, NMB, CABS, NBS
MoneyGram33,000 locations worldwideFees differ depending on the region:

To send US$100 from the United States to Zimbabwe carries a US$4.99 fee

The same transaction from the united Kindom (GBP73.48) carries a charge of GBP2.99 which is approx US$4.07
FBC, POSB, ZimPost, CBZ, EcoBank, Stanbic Bank and more
Western UnionHalf a million agent locations worldwide6%CBZ, POSB, AgriBank and agents (location links here)
Shumba MoneyBotswana, Australia, UK and Canadanone to ZimbabweShumba Money Newlands Branch
Uhuru WalletSouth Africa, ZimbabweThere is no fee for sending tokens already purchased. However, deposits into a wallet to buy tokens carry a 5% fee of the sum and there is a 1% charge for withdrawalsEastgate Mall Shop G11
MukuruBotswana Ghana
South Africa
10%OK, POSB, MBCA Bank, Metro Peech, Ecobank, CBZ, MetBank, Orange Booths, NMB, Spar and more
Access ForexUnited Kingdom and South Africa8.5% from South Africa to Zimbabwe

GBP2.90 plus the rate of the day from the UK
ProFeeds, ZimPost Branches Nationwide, Access Forex Branches
Hello Paisa31 countriesUS$5 fee to send US$100Lion Cash and Carry, BJ Service Station, and more agents
Xoom (PayPal)Anywhere where PayPal operatesMinimum US$10 – US$599 = US$9.99

US$600 – US$999 = US$12.99

US$1000 above US$15.99
ZB Bank, Terra Payment Services
World Remit130 countriesFees vary depending on the location.

US$100 will cost someone in the USA US$7.99 and the equivalent in the UK will be GBP2.99
Steward Bank, CBZ, ZB Bank, POSB, NMB Bank, NBS
GetBucks, CABS
BancABC, Econet
Mama MoneySouth Africa5%Steward Bank, ZimPost, OK, Pick n Pay, Fidelity Life Centre, CBZ, EasyLink, POSB, Agribank, and Ecobank branches

Domestic remittance services fees

LimitFeesCost of sending US$100
BancABC City HopperUS$250 for non-BancABC customers
US$500 for BancABC customers
Access Forex3%US$3.00
NBS InstaCash3%US$3.00
Steward Remit2%US$2.00
EcoCash RemitUS$250 for unregistered users
US$500 for registered customers
variable link to charges here

One response

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  1. M2

    The fees are higher than in the table when factoring in the hidden exchange rate premium. Almost all of them will deliberately charge you in a different currency than the one the recipient will get in order to create an opportunity for a hidden fee. Withdrawing cash from the Stanchart ATM is about the cheapest and most convenient international remittance service. Just keep a second Visa/Mastercard with a relative in ZW. No queues and 24×7 service. Best of all is you can buy from major established shops directly with the card (at the same price/discount as you would with physical US cash) at absolutely zero fees