-
-

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today EXCLUSIVE 1

Steve Oke Chapchap Market No Comments

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today EXCLUSIVE 1
Spread the love

- -
- -
-

Starting January 2023, Kenyan Banks are charging customers a fee (plus excise duty of 20%) when moving funds from their bank to M-Pesa and Airtel Money mobile money wallets.

Mobile Money wallets will also charge fees when moving cash from the wallets to bank accounts.

That means the zero-rated transfer of cash we’ve enjoyed is going away. 2023 is gearing to be an expensive year.

It seems different banks will charge different fees. We’d expected a standard fee, but from the different tweets and social media posts we are seeing, that will not be the case.

It’s also not clear whether or not the different rates we’ve seen announced include the 20% excise fee (or if the excise fee is charged on the amount you actually transact, making it vary with each transaction).

-UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

We already covered the transaction charges you can expect from NCBA Bank here. In this article we are going to try and compile every single bank who’ve shared their costs.

Let’s go:

KCB Bank transfer to M-Pesa Charges:

These have been updated based on new information shared by KCB online.

AMOUNT TRANSACTED BANK TO MOBILE MONEY CHARGES
1 – 100 0
101 – 500 11.20
501 – 1,000 13.60
1,001 – 1,500 16
1,501 – 2,500 26
2,501 – 3,500 38
3,501 – 5,000 50
5,001 – 7,500 64
7,501 – 20,000 76
20,000 – 150,000 78

Family Bank transfer to M-Pesa and Airtel Money Charges:

Family bank have an extra row of between KES 15,000 to KES 20,000, and between KES 20,000 to KES 150,000. This is unlike other banks.

-UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today 1

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

AMOUNT TRANSACTED BANK TO M-PESA CHARGES BANK TO AIRTEL MONEY CHARGES
1 – 100 0 0
101 – 500 10 11
501 – 1,000 12 13
1,001 – 1,500 14 20
1,501 – 2,500 23 25
2,501 – 3,500 33 35
3,501 – 5,000 43 45
5,001 – 7,500 55 55
7,501 – 10,000 55 55
10,001 – 15,000 65 65
15,001 – 20,000 65 65
20,001 – 150,000 67 65

Stanchart Bank transfer to Mobile Money Charges:

Standard Chartered and DTB have fairly similar charges.

AMOUNT TRANSACTED BANK TO MOBILE MONEY CHARGES
1 – 100 0
101 – 500 11
501 – 1,000 15
1,001 – 1,500 18
1,501 – 2,500 25
2,501 – 3,500 35
3,501 – 5,000 47
5,001 – 7,500 57
7,501 – 20,000 67
20,000 – 150,000 70

National Bank of Kenya transfer to M-Pesa and Airtel Money Charges:

National Bank have broken down the charges quite well showing that both the bank and the telco are benefiting from each transaction.

AMOUNT TRANSACTED BANK TO M-PESA CHARGES BANK TO AIRTEL MONEY CHARGES
1 – 100 0 0
101 – 500 10 11
501 – 1,000 12 13
1,001 – 1,500 14 20
1,501 – 2,500 23 25
2,501 – 3,500 33 35
3,501 – 5,000 43 45
5,001 – 7,500 55 55
7,501 – 20,000 60 60
20,000 – 150,000 67 65

Equity Bank transfer to M-Pesa Charges:

Equity has made it clear that these charges are exclusive of government taxes. Which means the charges could be higher.

AMOUNT TRANSACTED BANK TO M-PESA CHARGES BANK TO AIRTEL MONEY CHARGES
1 – 100 0 0
101 – 500 10 11
501 – 1,000 12 13
1,001 – 1,500 14 20
1,501 – 2,500 23 25
2,501 – 3,500 33 35
3,501 – 5,000 43 45
5,001 – 7,500 55 55
7,501 – 20,000 65 65
20,000 – 150,000 67 65

Diamond Trust Bank transfer to M-Pesa cost:

Here are the DTB charges:

AMOUNT TRANSACTED BANK TO MOBILE MONEY CHARGES
1 – 100 0
101 – 500 11
501 – 1,000 15
1,001 – 1,500 18
1,501 – 2,500 25
2,501 – 3,500 35
3,501 – 5,000 47
5,001 – 7,500 57
7,501 – 20,000 67
20,000 – 150,000 70

NCBA Bank transfer to M-Pesa cost:

It isn’t clear if these will be the same charges for people using NCBA Loop accounts.

AMOUNT TRANSACTED BANK TO M-PESA CHARGES BANK TO AIRTEL MONEY CHARGES
1 – 100 0 0
101 – 500 10 11
501 – 1,000 12 18
1,001 – 1,500 14 20
1,501 – 2,500 23 25
2,501 – 3,500 33 35
3,501 – 5,000 43 45
5,001 – 7,500 55 55
7,501 – 20,000 65 65
20,000 – 150,000 67 65

Stanbic Bank Charges to M-Pesa:

These charges are also not inclusive of the 20% excise duty:

AMOUNT TRANSACTED BANK TO MOBILE MONEY CHARGES
1 – 100 0
101 – 500 11
501 – 1,000 15
1,001 – 1,500 18
1,501 – 2,500 25
2,501 – 3,500 35
3,501 – 5,000 47
5,001 – 7,500 57
7,501 – 20,000 67
20,000 – 150,000 70

I&M Bank charges to mobile money:

Here are the fees you will pay (excluding excise duty) when transferring cash from your I&M bank to mobile money:

TRANSACTION AMOUNT CHARGES TO MOBILE MONEY
1 – 100 0
101 – 500 10
501 – 1,000 12
1,001 – 1,500 14
1,501 – 2,500 23
2,501 – 3,500 33
3,501 – 5,000 43
5,001 – 7,500 55
7,501 – 20,000 65
20,001 – 150,000 65

Cooperative Bank transfer to M-Pesa charges:

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

-UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today 1

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

This bank has apparently been charging customers for M-Pesa transfers all along. So the rates might only now be a little cheaper, or perhaps the same. (Update: the bank has shared information on the new rates, exclusive of the 20% excise duty)

AMOUNT CHARGES TO MOBILE MONEY
0 – 100 0
101 – 500 20
501 – 2,500 24
2,501 – 7,500 28
7,501 – 20,000 36
20,001 – 30,000 40
30,001 – 70,000 50

Absa Bank charges to send to M-Pesa:

It’s not yet clear what Absa will charge, as they’re only replying to tweets of asked amounts. They’ve not shared a full breakdown. Based on the tweets, this is what we have:

AMOUNT CHARGES TO MOBILE MONEY
1 – 100 0
101 – 500 11
501 – 1,000 15
1,001 – 1,500 18
1,501 – 2,500 25
2,501 – 3,500 35
3,501 – 5,000 47
5,001 – 7,500 57
7,501 – 20,000 67
20,001 – 150,000 70

Other banks:

-UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today 1

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

Please share down below, or through socials, what your respective banks will be charging. Remember these take effect from midnight. For information go-to https://www.chapchapmarket.co.ke/

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today

bank to mpesa charges
mpesa to bank charges
mpesa to equity paybill charges

mpesa to equity charges
equity to mpesa charges
kcb paybill number charges
mpesa to coop bank charges

kcb to mpesa charges
mpesa to equity charges 2021
equitel money transfer
equitel withdrawal charges

mpesa to kcb charges
kcb mobile banking charges
mpesa to family bank charges
equity to mpesa charges 2021

mpesa to bank charges 2021
transfer cash from mpesa to kcb account charges
mpesa to ncba charges
mpesa to equity bank charges
mpesa to stanchart charges

mpesa to absa charges
coop to mpesa charges
equitel to mpesa charges 2020
transfer money from equity to mpesa charges
mpesa to kcb account charges

mpesa to crdb bank charges
mpesa atm withdrawal charges
kcb withdrawal charges to mpesa
equity bank to mpesa charges
equitel to mpesa charges 2021
family bank mpesa transfer charges

kcb mpesa late loan repayment penalty
maximum mpesa money transfer
coop bank to mpesa charges

transaction cost from equity to mpesa
cooperative bank to mpesa charges
mpesa to stanbic charges

cooperative bank charges to mpesa
mpesa to ncba loop charges

mpesa charges to bank account
cost of sending money from mpesa to cooperative bank account

transaction cost from mpesa to equity bank
transfer from mpesa to kcb account charges

family bank to mpesa charges
kcb atm mpesa withdrawal charges

mpesa charges for sending money to bank account

mpesa to nmb charges
equity charges to mpesa
kcb mpesa loan rates
kcb mpesa loan charges

sending money from equity to mpesa charges
kcb bank to mpesa charges

mpesa to kcb transaction cost
kcb mpesa withdrawal charges

mpesa to coop bank charges 2021
charges from equity to mpesa
mpesa to equity bank transfer charges

kcb mpesa rates
kcb mpesa transfer charges

equity app to mpesa charges
mpesa to kcb bank charges

kcb charges for mobile banking
charges for sending money from mpesa to cooperative bank account

mpesa to kcb transaction charges
withdraw from kcb to mpesa charges

kcb mpesa transaction charges
mpesa to barclays bank charges

kcb charges to mpesa
kcb to mpesa transfer charges
kcb mobile banking transaction charges
kcb to mpesa
transaction charges
mpesa bank transfer charges

mpesa to coop bank account charges
kcb mpesa savings account interest

mpesa to bank account charges
mpesa transfer to bank charges

kcb mpesa paybill charges
minimum mpesa money transfer

mpesa to bank transfer charges
m pesa transfer to bank account charges

pesa link transfer charges
bank to mpesa transfer charges

kcb mobile banking withdrawal charges
kcb mobi bank charges
equity to mpesa transfer charges

kcb mobile banking rates
kcb to mpesa transaction

Join Channel!
UPDATED: What All Banks Charge to transfer Cash from Banks to M-Pesa Today
Photo of Techish

Techish

Techish focuses mostly on opinions on Tech, Business, Entrepreneurship and Startups. Reach out to us at any time [email protected] if you have anything you want to have featured on the site.

 

 

9 Comments

  1. Hi. Yes, Coop has been charging as all through for sending Money from Bank to Mpesa. But I have just discovered they are also charging us to Deposit money to the Coop Bank Accounts. 8k they charge 46bob, 22k charging 65 bob…. Please let me know the banks that are not charging to deposit money using Paybill to the Bank Account

  2. Nice information.It would be great to have a conclusion of which bank is thus a better bet to save some bucks if someone wants to synthesize all the information written.

Leave a Reply

 

 

Back to top button


Spread the love
Tags :

Leave a Comment

Your email address will not be published. Required fields are marked. *

Success! Thanks for your comment. We appreciate your response.
You might have left one of the fields blank, or be posting too quickly
x
x