Safaricom adjusted their M-Pesa charges, effective 1st July 2018. According to the company, the change was necessitated by the Finance Bill 2018 which raises the excise tax on mobile money from 10% to 15%.
The M-Pesa charges have increased by an average of 1 shilling for withdrawing, including via ATMs, and sending money. For instance sending Ksh. 1,001 – 1,500 will now cost Ksh. 26, up from Ksh. 25. Sending to unregistered numbers has gone up by a considerable amount more especially for larger sums. Sending 5,001 – 7,500 to an unregistered user is now Ksh. 166, up from Ksh. 143. In an interesting development, M-Pesa balance enquiry and changing M-Pesa PIN is now free. The two features used to previously cost Ksh. 1 and Ksh. 22 respectively.
Safaricom Mpesa transfer and withdrawal charges depend on the amount in the transaction. The maximum one can send using Mpesa is Ksh 70,000 per transaction. The maximum daily M-pesa transaction limit is Ksh 140,000. It costs a little more to send money to non-registered subscribers.
All Mpesa deposits are free. There are no Mpesa charges when buying Safaricom airtime through Mpesa. Mpesa registration is free and there are no Mpesa charges when you generate your Safaricom Mpesa statement.
Current Safaricom Mpesa charges for sending and withdrawing money though a Safaricom agent, ATM and m-pesa tariffs when transferring cash both to registered and unregistered Mpesa users.
As indicated in the Mpesa charges table below, you can not withdraw less than Ksh 50 from an Mpesa agent but you can transfer any amount greater than Ksh 10 to another Mpesa user. Use the Mpesa rates calculator to get Mpesa fees for sending or withdrawing any amount.
The new M-PESA tariffs, which take effect immediately, are below:
Safaricom Mpesa Charges 2018
Withdrawal from M-PESA Agent
Transfer to Unregistered Users
Transfer to other M-PESA Users
Transfer to other Mobile Money Users
- Maximum Account Balance allowed is Ksh 100,000.
- The maximum Daily Transaction Value is Ksh 140,000. Maximum per transaction is Ksh 70,000
- You cannot withdraw less than Ksh 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, Diplomatic ID or Alien ID/Foreigner Certificate.