It is a new year, and everyone is looking to spend wiser. Or most people I assume. The most recent nationwide event in matters money has to be the return of Bank to M-PESA transaction charges. This marks a return of those tariffs after having been scrapped to cushion Kenyans during tough Covid19 economic shutdown.
You can read our previous piece here to find out how much your bank will charge you. Below, is what it looks like for other M-PESA transactions.
But first, few things to always note:
- Maximum Account Balance is Kshs.300,000
- Daily maximum transaction value is kshs.300,000
- Maximum amount per transaction is Kshs.150,000
- The minimum amount you can withdraw at an M-PESA Agent is Kshs.50
- For M-PESA person to person self-reversal, send the transaction confirmation to 456
- To be able to transact, your Safaricom line and M-PESA account must be active.
- One can deposit funds only into M-PESA account registered under their own identification document (ID). Depositing directly into third party accounts is not allowed.
- You will earn Bonga Points from the M-PESA fee charged when you transact.
- To transact at any M-PESA agent outlet, you will be required to produce your original identification document with which the M-PESA was registered, i.e., National ID or Kenyan Passport
- Dial *334# to view application charges or use M-PESA cost calculator on My Safaricom App
M-PESA Transaction Charges
|Transaction Range (Kshs)|
|Min||Max||Transfer to otherM-PESA users||Transfer to unregistered users||Transfer to other M-PESA users, Pochi La Biashara, and Business Till to customer||Withdrawal from M-PESA Agent|