RBZ ordered mobile money account verification

A June 2026 deadline just forced mobile money platforms to cross-check every single account against Zimbabwe's national death registry.

RBZ's crackdown on dead-person fraud

• Governor John Mushayavanhu dropped this during his Monetary Policy Statement.
• Mushayavanhu revealed that syndicates are raiding deceased people's wallets.
• EcoCash and similar platforms must verify holders with the Registrar General's Department.
• Unverified accounts without a living owner face deactivation.

Why dead accounts became goldmines

• Accounts belonging to deceased Zimbabweans are prime fraud targets.
• Criminals have been exploiting the gap between death records and mobile money data.
• Linking databases to the national death registry is the fix.
• Reserve Bank of Zimbabwe wants fraudsters frozen out instantly.

Bank fees got absolutely gutted

• Balance inquiry and cash deposit charges are completely gone.
• Cash withdrawal fees dropped to a flat 2 percent.
• Point-of-sale transactions are capped at 1.5 percent.
• Consumers had long despised these particular banking costs.

Small-transaction relief for vulnerable users

• Mobile money platforms cannot charge for transactions under US$5.
• Airtime and bus fare transfers stay fee-free under that threshold.
• EcoCash is directly named in the governor's directive.
• Protecting low-income users from hidden fees is the stated goal.