Safaricom introduced new M-Pesa charges. These new rates came as a result of a 2% increment (from 10% to 12%) in mobile money transaction costs as announced by the Treasury Cabinet Secretary, Henry Rotich. With the new M-Pesa sending and withdrawal charges, registered Safaricom users can pay KSh15 for sending KSh1000 and KSh28 to withdraw an equivalent amount from an M-Pesa agent.
According to Safaricom, sending a 100bob remains free, however, you’ll be charged KSh10 to withdraw an equivalent amount. However, some users have complained on social media that they’re being charged 1 bob for sending KSh50 and below and 2bob for sending Ksh100. the speed increment doesn’t apply to other services like buying airtime, balance inquiry, registration, and changing your M-Pesa pin.
Safaricom M-Pesa sending charges Sending charges
depend upon a spread of things including whether the recipient is registered or not and whether or not they are employing a different phone carrier.
Sending charges to unregistered customers
You will be as little as 0 and a maximum of KSh309 for sending money to unregistered users.
M-Pesa transfer fees to other M-Pesa users
To send money to registered M-Pesa users, you won’t pay anything for any amount below 100 shillings. However, you’ll spare KSh105 in transaction charges to send Ksh50,000 and above.
M-Pesa transfer to other mobile money users
If you would like to send money to Airtel or Telkom users, you’ll pay practically an equivalent rate as M-Pesa to M-Pesa transactions. This table shows the fees you’ll incur.
The maximum cash you’re allowed to send via M-Pesa is KSh70,000 for every transaction. Moreover, the utmost M-Pesa (daily) transaction limit lies at KSh140,000. Note that consistent with M-Pesa rates latest changes, you’ll pay a further fee to send cash to non-registered M-Pesa subscribers
M-Pesa withdrawal charges
Just the way the M-Pesa tariffs for sending money differ counting on the quantity of cash you’re sending, an equivalent case applies to M-Pesa withdrawal charges. The more you would like to withdraw the more the transaction cost is.
M-Pesa withdrawal charges differ counting on the mode of withdrawal. Withdrawing from an agent is cheaper than withdrawing from an ATM. the utmost you’ll withdraw is 20,000 and therefore the minimum is 200 when using an ATM.
M-Pesa withdrawal from an agent
To withdraw money from an M-Pesa agent you’re required to supply your National ID, Passport, Military ID or Alien ID/Foreigner Certificate. this is often the foremost popular withdrawal option. it’s liberal to send anything below KSh50. it’ll cost you KSh10 to withdraw KSh50-100 while you’ll be required to pay KSh 300 to withdraw KSh70,000.
M-Pesa withdrawal tariffs from an ATM
As mentioned earlier it’s possible to withdraw money from an ATM. this is often usually highly beneficial in areas that haven’t any M-Pesa agents but have ATM’s. Here are the rates for withdrawing cash from an ATM
- Maximum Account Balance is KSHs.100,000
- Maximum Daily Transaction Value is KSHs.140,000
- .Maximum per transaction is KSHs.70,000
- you can’t withdraw but KSHs.50 at an M-PESA agent outlet
- To transact, your Safaricom line and M-PESA account must move At an agent outlet,
- you can’t deposit money directly into another M-PESA customer’s account
- You earn Bonga points once you transact on M-PESA.
- To register or transact at any M-PESA Agent outlet, you’ll be required to supply your original identification document, i.e., National ID, Passport, Military ID or Alien ID/Foreigner Certificate
The new M-Pesa charges for withdrawing also as sending money are highlighted above. I hope this text will help make all of your M-Pesa transactions easier. Share with us your views on the new M-Pesa tariffs