Fees and limits
What we charge
These are the live figures, read from our systems. The app shows you the same numbers at the moment they apply.
South Africa
All amounts in ZAR.
Fees
Loosh charges when money leaves the platform, and nowhere else.
- Platform fee
- 12.80%
- Verification fee
- R 50.00
- Topping up, sending, receiving
- Free
Charged on withdrawals only, as a percentage of the amount you withdraw.
Once per person, deducted from your first withdrawal. Released if that withdrawal fails.
No fee to add money, send it, or be paid.
Limits
Per transaction, unless stated otherwise.
- Minimum top-up
- R 10.00
- Maximum top-up
- No limit
- Minimum send
- R 5.00
- Maximum send
- No limit
- Minimum withdrawal
- R 50.00
- Maximum withdrawal
- R 3 000.00
- eWallet daily limit
- R 3 000.00
Total per person per day, across all wallets. Resets at midnight South African Standard Time. Bank withdrawals have no daily limit.
Rewards
Set aside for you, released when the conditions are met.
- Sign-up bonus
- R 10.00
- Referral reward
- R 5.00
- Referral qualifying top-up
- R 200.00
- Referral cooling period
- 5 days
Released once your identity is verified. One per person.
Paid to the wallet whose invite link was used.
What the person you invited needs to top up before the reward is earned. A first withdrawal also qualifies.
The reward is held for this long before it becomes spendable.
Pledges
A pledge records money you mean to give. Nothing moves until you settle it.
- Pledges expire after
- 30 days
- Most outstanding at once
- 40
- Most outstanding value
- R 1 000.00
Per wallet.
Per wallet, across all your unsettled pledges.