Money transfer services are becoming more popular across the African continent. With the high number of unbanked people in the market, using these services has become the most convenient way to send money across the African continent.
Textacash offers this convenient service.
Offered by CABS, a member of the Old Mutual group, Textacash is an innovative mobile banking solution.
CABS is a society the offers a diverse range of financial products and services that includes transaction and savings account, mobile banking, mortgage loans, money market investments, term deposits and payroll loans.
The Textacash card is like an ordinary ATM card. It’s a money transfer service using cellphone technology, to both banked and unbanked Zimbabweans. Money can be sent to the card and there is no need for the recipient to wait in queues at the bank to collect money.
The card can be used to swipe at most shops and all Zimswitch ATMs in Zimbabwe.
How to use Textacash to send money to Zimbabwe
Dial *227# to access the Textacash menu on you cellphone and follow the simple on-screen instructions. You can then send cash in minutes to anyone with a cellphone.
To receive cash, take your reference number and PIN code with your ID to your local Textacash agents available across the country. Agents can take deposits, perform withdrawals, carry out cash send and receive transactions.
The Textacash bank card requires no minimum balance and has no monthly service charges.
As more Zimbabwean nationals settle in South Africa, trying to make a living, the financial industry is also slowly making changes in order to keep up with changing socio-economic dynamics. Mobile banking solutions such as using Textacash to send money to Zimbabwe are set to increase in popularity.