The money that’s in your Ecocash account is nominally denominated in USDs. However, we all know that that’s a mirage. In reality, normal Ecocash accounts carry the much maligned bond notes for which there is a premium on withdrawals. Following the move by the Reserve Bank to separate bond and FC accounts, Ecocash took a similar step, with the result that you can now have separate wallets for bonds and real USDs on your phone. In order to use the Ecocash FCA wallet, all that you need to do is the following;
- Dial *151# on your phone
- Enter you Password
- Choose Wallet Services (option 7).
- Choose Option 5, Multi Currency
- Choose Change Currency (option 2)
- Select USD: FCA Wallet
- Confirm the change
That’s it. You will now get a notification telling you that you have successfully changed your Ecocash to the USD FCA Wallet. Now when you enter your password, you will get the Ecocash USD FCA menu.
Who should use the Ecocash USD FCA Wallet
Admittedly, not many of us will have the USDs to put into an ECOCASH USD FCA wallet. However, there are some people out there who can use the facility to receive their USD earnings. The good news is that you will get actual U.S Dollars when you withdraw the money that’s in your Ecocash FCA wallet.
I was recently in the rural areas, where a number of people who work for one NGO or the other as field officers were complaining that their superiors were cheating them out of their hard earned USDs. Apparently, the superiors would receive money as actual USDs from donors in the Diaspora, in spite of which fact they were still giving the field offers $70 bond per month. Now, it does not take much imagination to understand what the superiors were doing with the real USDs before sending a measly 70 bond to the workers via Ecocash.
This situation is one for which having an Ecocash FCA wallet would be useful. That way, the field officers can get $70 in real USDs in their wallets. Need to settle your TelOne ADSL account via Ecocash? Here is how to do it.