Innbucks Charges Drop. Here are the latest tarrifs in 2024
Using InnBucks Microbank just got cheaper by a 2% margin. Since last year sending money through Innbucks costed less. Innbucks has also recently announced a 5% Cashback when you Buy Econet and NetOne Airtime on the Innbucks mobile app and USSD platforms.
All Innbucks Charges as of February 2024
| Transaction | Charges |
|---|---|
| Deposits | Free |
| Withdrawals | 2% |
| Sending less than $5 | 1% |
| Sending more than $5 | 3% |
If you ask me my opinion on the Innbucks' charges I would say they might not be the cheapest in the market but considering cash avialability Innbucks is very reliable compared to other micro-finance banks such as Ecocash where agents usually run out of float.
New to Innbucks? Here is what you need to know
1. What is InnBucks
Innbucks is a fintech solution and microfinance institution that originated as a mobile app designed to address the challenge of receiving loose change at restaurants in Zimbabwe. Initially launched by Simbisa Brands, a major restaurant operator, Innbucks has evolved into a comprehensive financial platform offering various services, including digital payments, savings accounts, mobile wallets, microloans, mobile banking, and value-added services like airtime purchases.
It has become one of Zimbabwe's most popular fintech platforms, with millions of users and a wide range of financial products. Additionally, Innbucks has navigated regulatory challenges and obtained licenses to operate as a deposit-taking microfinance institution, further solidifying its position in the market.
2. How to apply for innbucks
- Download the Innbucks mobile app: Visit the Google Play Store (for Android users) or the Apple App Store (for iOS users) and search for "Innbucks." Download and install the app on your smartphone.
- Register an account: Open the Innbucks app and follow the on-screen instructions to register for an account. You may need to provide personal information such as your name, email address, phone number, and identification details as required by regulations.
- Complete verification: Depending on regulatory requirements and Innbucks' policies, you may need to undergo a verification process to confirm your identity. This may involve submitting additional documentation or completing certain steps within the app.
- Fund your account: Once your account is set up and verified, you can fund it by transferring money from your bank account or other sources. Innbucks may offer various funding options, including bank transfers, mobile money, or cash deposits at designated locations.
- Explore services: After funding your Innbucks account, you can explore the range of financial services offered by the platform. This may include making digital payments, transferring money to other users, applying for microloans, managing your savings, purchasing airtime, and more.
- Utilize additional features: Innbucks may offer additional features and benefits, such as discounts or rewards for using specific services, referral bonuses, or special promotions. Take advantage of these features to maximize the benefits of using Innbucks.
- Stay informed: Keep yourself updated on any changes to Innbucks' services, fees, or policies by regularly checking the app or official communication channels. This ensures that you are aware of any updates that may affect your user experience or financial transactions.
Remember to always exercise caution and ensure the security of your personal and financial information when using any mobile app, including Innbucks.
