Safaricom New Mpesa Charges in 2020
Safaricom, one of the largest telco company in Kenya introduced new Mpesa charges for 2020. The new rates were prompted by the increase of the cost of mobile money transaction from 10% to 20% earlier announced by Henry Rotich, the former Treasury cabinet Secretary. Following the changes in Mpesa charges, all registered Mpesa users will incur Ksh45 for sending Ksh 500 and Ksh49 to send KSh1000. Read on to learn more about the new Safaricom charges.
Safaricom Mpesa New Sending Charges
Sending money over MPesa differs significantly because of various factors. For instance, a registered safricom user will not incur the same charges as another person using Mpesa from other service providers such as Airtel or Telcom.
Mpesa Safaricom Sending Charges to Unregistered User
You will incur 0 shillings to send a maximum of KSh309 to any Safaricom unregistered user.
M-Pesa transfer fees to other M-Pesa users
To send money to registered M-Pesa users, you wont pay anything for any amount below one hundred shillings. However, you will part with KSh105 in transaction charges to send Ksh50,000 and above.
M-Pesa transfer to other mobile money users
If you wish to send money to Airtel or Telkom users, you will pay practically the same rate as M-Pesa to M-Pesa transactions. This table shows the charges you will incur.
The maximum cash you are allowed to send via M-Pesa is KSh70,000 for each transaction. Moreover, the maximum M-Pesa (daily) transaction limit lies at KSh140,000. Note that according to M-Pesa rates latest changes, you will pay an additional 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 depending on the amount of money you are sending, the same case applies to M-Pesa withdrawal charges. The more you want to withdraw the more the transaction cost is. M-Pesa withdrawal charges differs depending on the mode of withdrawal. Withdrawing from an agent is cheaper than withdrawing from an ATM. The maximum you can withdraw is 20,000 and the minimum is 200 when using an ATM.
M-Pesa withdrawal from an agent
To withdraw money from an M-Pesa agent you are required to produce your National ID, Passport, Military ID or Alien ID/Foreigner Certificate. This is the most popular withdrawal option. It is free to send anything below KSh50. It will cost you KSh10 to withdraw KSh50-100 while you will be required to pay KSh 300 to withdraw KSh70,000.
M-Pesa withdrawal tariffs from an ATM
As mentioned earlier it is possible to withdraw money from an ATM. This is usually highly beneficial in areas that have no M-Pesa agents but have ATM’s. Here are the rates for withdrawing cash from an ATM.
Note
- Maximum Account Balance is KSHs.100,000 Maximum Daily Transaction Value is KSHs.140,000.
- Maximum per transaction is KSHs.70,000 You cannot withdraw less than KSHs.50 at an M-PESA agent outlet.
- To transact, your Safaricom line and M-PESA account must be active
- At an agent outlet, you cannot deposit money directly into another M-PESA customer’s account
- You earn Bonga points when you transact on M-PESA
- To register or transact at any M-PESA Agent outlet, you will be required to produce your original identification document, i.e., National ID, Passport, Military ID or Alien ID/Foreigner Certificate.
The new M-Pesa charges for withdrawing as well as sending money have been highlighted above. I hope this article will help make all your M-Pesa transactions easier. Share with us your views on the new M-Pesa tariffs.
