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.
Equity Bank to M-PESA, Airtel Money Charges
According to Equity, these charges will be exclusive of government taxes, meaning the actual charges could be higher.
Amount (KES)
To M-PESA
To Airtel Money
1 – 100
0
0
101 – 500
10
11
501 – 1,000
12
13
1,001 – 1,500
14
20
1,501 – 2,500
23
25
2,501 – 3,500
33
35
3,501 – 5,000
43
45
5,001 – 7,500
55
55
7,501 – 20,000
65
65
20,000 – 150,000
67
65
NCBA to M-PESA, Airtel Money Charges
Amount (KES)
To M-PESA
To Airtel Money
1-100
0
0
101-500
10
11
501-1000
12
18
1001-1500
14
20
1501-2500
23
25
2501-3500
33
35
3501-5000
43
45
5001-7500
55
55
7501-20,000
65
65
20,001-150,500
67
65
I&M Bank to M-PESA Charges
Amounts (KES)
Charges
1-100
0
101-500
10
501-1000
12
1001-1500
14
1501-2500
23
2501-3500
33
3501-5000
43
5001-7500
55
7501-20,000
65
20,001-150,000
65
KCB to M-PESA Transaction Charges
Amount(KES)
Charges
1 – 100
Free
101 – 500
11.20
501 – 1,000
13.60
1,001 – 1,500
16
1,501 – 2,500
26
2,501 – 3,500
38
3,501 – 5,000
50
5,001 – 7,500
64
7,501 – 20,000
76
20,001 – 150,000
78
National Bank to M-PESA, Airtel Money Transaction Charges
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