The Central Bank of Kenya (CBK) in December 2022 announced that it will be reinstating charges for money transfers between bank accounts and mobile money wallets. This decision comes after commercial banks have been advocating for the return of these bank to M-PESA charges for months.
The charges were originally suspended on March 16, 2020, as a temporary measure to encourage the use of mobile money during the Covid-19 pandemic. They are now effective since 1st January 2023 at rates lower than before.
Here is a roundup of charges levied across different banks in Kenya as you make transfers from the bank to M-PESA.
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