Ecocash and Steward Bank clients Wary over floating of funds



  • Inter-bank transfer services issues.
  • Petition to the Reserve Bank of Zimbabwe (RBZ).
  • Funds are deducted but not credited to the right account

Several banks account holders have expressed bitterness and disgruntlement over their ill-treatment particularly from Ecocash and Steward Bank, which keep swindling them of their hard-earned monies through their inter-bank transfer services.

The scenario has forced social media users to continuously fume over the ill-treatment, leading one Eugene Jamu to start a petition to the Reserve Bank of Zimbabwe (RBZ) over the issue and encouraging people to follow suit.

The petition to the RBZ reads,

We are kindly requesting the RBZ to check with Steward Bank and Ecocash.

There is a challenge with moving funds between Steward Bank and Ecocash.

Many funds are deducted but not credited to the right account and clients have to go through long and strenuous processes to get the funds back. Sometimes people end up giving up because of the long processes. Sometimes money is deducted without the Client’s approval and the funds take a long process to be refunded.

The queues at Ecocash and Steward Bank are too long for people to manage to wait. A lot of people’s money Is locked up In the air. Many people end up giving up helplessly.”

This petition follows several weeks of clients’ murmuring over the two financial services providers’ floating of people’s monies without nobody taking any clear action, but the petition to the Reserve Bank is more likely to bring the much sought-after relief to the Clients or they might end up opting for better alternatives like changing banks.


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