When making payments to registered mpesa merchants, you will be charged a small fee of 0. M pesa charges will depend on the amount you are sending or withdrawing. Your browser does not currently recognize any of the video formats available. You cannot deposit money directly into another mpesa customers account at an agent outlet. Below we present tariffs for varying amount of money transacted via mpesa paybill. Mobile money services typically offer a subset of the following services peer to peer money transfers p2p, remittances domestic and or international, bill payment receipt, salary disbursement receipt, retail payments, and money storage savings. Mpesa rates 2019 safaricom mpesa charges and tariffs. Currently, it costs more amount to send money to an unregistered number in 2019. M pesa customers can deposit and withdraw money from a network of agents that includes airtime resellers and retail outlets acting as banking agents. Our pricing structure is simple, and has no hidden costs with a focus on growth for your business.
Its important to be aware of how much the convenience of using safaricoms m pesa costs you. Bank summary minimum rate of charges, commission and. What are the new mpesa charges and rates and in kenya for 2019. Safaricom lipa na mpesa paybill charges and rates for. You can also use your mpesa to buy airtime for your phone, or for someone else. Due to increased taxes in the mobile money industry, there are new m pesa charges, fees and also tariffs starting july 2018. The mpesa charges have increased by an average of 1 shilling for withdrawing, including via atms, and sending money. Atm withdrawal 2019 5 how to reverse wrong mpesa transaction all deposits to your mpesa account are. Safaricom annual reports, full annual reports safaricom. Banks set varying fees for pesalink transfers wednesday, april 5. Mpesa has become a key part of our lives as kenyans. For payments between tsh 1,500,001 and 2,000,000 you will be charged tsh 7,500 and for payments above tsh 2,000,000 a charge of tsh 8,000 will be applied. The governor enjoys extraordinary power as the sole protector of the legislation in the scheduled areas. Ordinary current accounts monthly ledger fee for balances below tzs 20mn usd 20,000 gpb 20,000 15,340 17.
Below is a comprehensive table showing new mpesa rates for withdrawing money from an agent in 2020. M pesa displays account balances on every transaction confirmation for free. But you can also be clever and reduce the due mpesa charges, for example, by making a single withdrawal rather than several small withdrawals when sent some cash. On top of allowing for easy remittances money sent generally from working family members to nonworking members, m pesa has had an incredible effect on kenyas social safety net. It brings together recent outturn data, estimates for. M pesa m for mobile, pesa is swahili for money is a mobile phonebased money transfer, financing and microfinancing service, launched in 2007 by vodafone for safaricom and vodacom, the largest mobile network operators in kenya and tanzania. Feb 10, 2020 below is a comprehensive table showing new mpesa rates for withdrawing money from an agent in 2020. The networks have structured their tariffs in such a way that theres really no big margin in what each of them charges users. In total therefore, the transaction could have cost both of you a maximum shs 173. Mpesa charges will depend on the amount you are sending or withdrawing.
The avl capital group,a combination of many financial institutions in kenya including chase bank,safaricom m pesa,cic insurance, apa insurance,benchmark,aig, uap and more others is still giving out mobile micro credit services dubbed pesa na pesa since 2015 to all kenyan registered members. Other innovative services built on the original m pesa model include. Feb 21, 2017 the m pesa mobile payment system was launched in kenya in 2007. Here are the m pesa rates in mid2018 for various transactions.
Mpesa rates, mpesa tariffs, mpesa withdrawal charges, m. It will now cost ksh26 to send ksh1,500 and sh56 for ksh 3,500. The app provides a truly transformative customer experience. Loans kenya had to share this to update borrowers about this it. Current safaricom mpesa charges for sending and withdrawing money though a safaricom agent, atm and mpesa tariffs when transferring cash both to. Previously such statements were available from safaricom shops and on their selfcare customer portal. And what is the cost of transferring money to an unregistered safaricom number. Safaricom have announced that their customers will now be able get their full m pesa statements free of charge via email.
We use mpesa now to send money to family and friends, to pay for goods, to pay bills, school fees and everything else in between. Now lets dive into mobile money rates across mobile network providers in uganda. Pesa is a most powerful act to protect the rights of tribes. Having cut the costs by half is a symbol of social responsibility that safaricom has exemplified.
To get m pesa terms and conditions visit your nearest vodashop or go to tz. The amount of mpesa charges you incur depends on the amount youre sendingreceiving. Tariffs and charges applicable when sending and receiving money for tigo pesa. Of these, p2p tends to be the most common offering. Call the red cross tollfree helpline 1199 at any time of day or night to get this service. Click here to know more about safaricom annual reports. When depositing and withdrawing money via mpesa paybill number,you incur costs. A mobile banking service that allows users to store and transfer money through their mobile phones. The m pesa charges have increased by an average of 1 shilling for withdrawing, including via atms, and sending money.
The safaricom lipa na mpesa and paybill charges 2020 chart rate calculator is the formula for money transactions in east africa. Mpesa withdrawal charges and rates 2020 victor matara. These are the latest vodacom tanzania mpesa tariffs and charges for sending and withdrawing money, paybill and m pesa tanzania transaction charges for mpawa loan. Mtn mobile money charges slightly more than airtel money, msente or africell money when you want to send mobile money to other registered users. By using the app you get a richer experience on all transaction types be it sending money to loved ones, accessing your bank account, paying. M pesa has spread quickly, and by 2010 had become the most successful mobilephonebased financial service in the developing world. Check balance, send money, top up your phone, pay bills, transfer money to your bank account, cash out and so much more. May 12, 2018 when depositing and withdrawing money via mpesa paybill number,you incur costs. Pesa na pesa, mpesa loans in kenya loans kenya blog. You can use your m pesa menu to buy airtime for your phone, or for someone else. Bank summary minimum rate of charges, commission and interest. Atm withdrawal allowing individuals to withdraw cash from atms, not only agents as before m pesa cash. With the new rates, m pesa users will pay the following charges for their transactions.
Keep in mind though that these charges change over time. Other safaricom m pesa transaction charges and rates for the year 20202021. Jan 23, 2020 wondering what is pesa link and their charges as of 2020. With the current advancement in mobile money transactions methodology, there has been a steady rise in business sales and services. Airtel money charges will depend on the amount you are sending or withdrawing. It is a collaboration between all local banks who are members of the kenya bankers association. M pesa the largest and most innovative mobile financial service in tanzania has enriched its transaction experience by launching its m pesa app. The second table shows the rates for sending money to other mpesa users both registered and unregistered users. You can send or receive up to tzs 3m per day or deposit up to tzs 5m at once on your tigo pesa account once fully registered. The current mpesa paybill transaction charges have made it easier for customers to pay for services without hitches, enabling secure mobile payments and without feeling the pinch. Mpesa charges safaricom mpesa transactional charges and tariffs mpesa charges withdrawal from mpesa agent. Panchayat extension to scheduled areas act, 1996 pesa act, 1996. Gharama za miamala ya tigo pesa, vodacom m pesa na. You dont need to get on a bicycle, bodaboda or taxi to rush to the hospital in time of an emergency.
Whilst every effort has been made in building these calculators, we are not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the tools and information derived from the web site. No mpesa charges when buying safaricom airtime through mpesa. Here are the mpesa charges for sending money, withdrawal 2020. You can use your mpesa menu to buy airtime for your phone, or for someone else.
May 19, 2016 now you will be a fully registered member of pesa na pesa. M pesa skilfully tapped into this need with their first ad campaign, that led with a simple yet emotional message. If you havent downloaded the app yet, you dont know what youre missing. The above table is for mpesa withdrawal charges in 2020. Now thats not a surprise since mtn uganda has the most number of mobile money subscribers while africell money which has the least subscribers equally charges the least amount of money. Mpesa charges have been revised for the year 20202021. Lipa na mpesa cost calculator paybill, till number charges. Pesa has a long history of providing a selection of quality remote control panels for all of our routing systems. Safaricom lipa na mpesa paybill charges 2020 chart rate. Mpesa charges kenya or the mpesa charges list is a fixed amount for a given range of transaction amount. Airtel money tariff money transfer charges 2016 for kenya. M pesa s market success can be interpreted as the interplay of three sets of factors. The safaricom mpesa transfer and withdrawal charges only depends on one factor. If you wish to make a balance query you will be charged tsh 60.
Public expenditure statistical analyses pesa is the yearly publication of information on government spending. These are the latest vodacom tanzania mpesa tariffs and charges for sending and withdrawing money, paybill and mpesa tanzania transaction charges for mpawa loan. The latest in our advanced panels include the smart32 and touch72 which allow customers to select the color, text, and graphics to be displayed on each button. Mpesa charges safaricom mpesa transactional charges and tariffs. You can view full annual reports for the past few years by clicking on the below links. Equitel is the solution to mpesas inflated tariffs. Tariffs and charges applicable when sending and receiving money for tigo pesa subscribers. He or she can take action to amend the existing laws of the state or the center which are in conflict with the provisions of the pesa.
After swapping your vodacom number, you can start using your m pesa account after 48 hours. Banks set varying fees for pesalink transfers wednesday, april 5, 2017 20. M pesa rates, charges for m pesa users in kenya, having answers to burning questions centring on the mobile money transfer service is as important as utilizing the service itself. 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%. Questions like their charges for withdrawing from an agent, cost of transferring money to an unregistered safaricom number, and rates are always in the spotlight. Current safaricom mpesa charges for sending and withdrawing money though a safaricom agent, atm and mpesa tariffs when transferring. When transacting at an agents outlet, you will be asked to show your original identification document. Other safaricom mpesa transaction charges and rates for the year 20202021. Mpesa charges depend on the amount you are sending or withdrawing. M pesa was originally introduced in kenya as an alternative way for the unbanked. This service is free and you will only pay for the airtime purchased. Do the mpesa rails contribute to financial inclusion. Jan 01, 2020 find the current safaricom mpesa charges for sending and withdrawing money via safaricom agent, atm and mpesa tariffs when transferring money both to registered and unregistered mpesa users. Jul 01, 2018 safaricom has today adjusted their m pesa charges.
The charges vary depending on the amount to transact. Check for any update on the vodacom tanzania mpesa tariffs and charges website. Banks set varying fees for pesalink transfers business daily. Sending ksh1,000 will cost ksh15 while a rate of ksh28 will be charged for withdrawing the same amount. A good repayment history will make your loan limit increased.
Pesa news petroleum exploration society of australia. Non kcb account holders kes 40 terms and conditions all charges are subject to 20% excise tax these charges are inclusive of 20% excise tax minimum operating balance kes 1,000 reactivation fees kes 200 c agribusiness account 1. Aug 20, 2019 contents show 1 mpesa transaction rates in kenya 2020 2 mpesa rates and charges for transfer to unregistered users 2019 3 mpesa transactions and rates for transfer to other mpesa users 2019 4 mpesa transactions rates and charges. New mpesa charges, fees and tariffs starting july 2018. Jul 09, 2018 users have been experiencing new safaricom m pesa rates that were announced earlier in july following the budget reading treasury cs henry rotich presented the budget in parliament in june where he disclosed the new tax measures the government would take to finance its mega kshs. How to get your full mpesa statement via email hapakenya. The transaction cost is therefore higher when sending and withdrawing money through m pesa. There are no mpesa charges when buying safaricom airtime through mpesa. Kenyans will from july 1, 2018 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect. Well, pesalink is a money transfer service from a local kenya shillings bank account to another local kenya shillings bank account in realtime. Atm charges kes 30 h m pesa agent float purchase 1.
Current safaricom mpesa charges for sending and withdrawing money though a safaricom agent, atm and mpesa tariffs when transferring cash both to registered and nonregistered mpesa users. The cost customers pay for lipa na mpesa services is so small compared to the convenience that comes with it. These tools are here purely as a service to you, for educational and informational purposes only. A recent survey by fsd kenya reinforces the importance of the banked population as it shows that early adopters of m pesa were more likely to be banked than non users. In this article, we will answer all the above questions for the new mpesa rates, effective 1st june 2018. Pdf mpesa is a smallvalue electronic payment and store of value system that is accessible from ordinary mobile phones. Airtel money tariff money transfer charges 2016 for. The tigo pesa app makes all your mobile money transactions fast and easy. M pesa tariffs m pesa charges will depend on the amount you are sending or. The higher level of financial literacy in kenya may have eased adoption of m pesa where the value of financial services was better established. Business mgao tariff split charges between customer and business. Mpesa continues to dominate kenyan market mobile world live.
638 1492 1022 1446 724 73 750 201 1603 568 1604 120 495 390 312 858 147 440 1646 1313 661 530 1656 1349 137 1484 118 1393 377 458 530 434 1160 1358 1303 1141 606 1262 461