JavaScript must be enabled in order for you to see "WP Copy Data Protect" effect. However, it seems JavaScript is either disabled or not supported by your browser. To see full result of "WP Copy Data Protector", enable JavaScript by changing your browser options, then try again.

Safaricom New Mpesa Charges From 2023

Safaricom has announced new Mpesa charges effective 1st January 2023. The new revised Mpesa charges that have already taken effect for on Mpesa and have seen reduction on money transfer charges on transfer to other M-PESA users, Pochi La Biashara, and Business Till to customer.

Transaction of between Sh101 and Sh500 in paybill will now be charged Sh4, down from Sh23 previously charged.

On the other hand, payments between Sh500 and Sh1,000 will cost Sh9, down from Sh23 while those between Sh50,000 and Sh150,000 will cost Sh105, down from Sh210 that was previously charged.

We would like to notify our valued customers and partners on the reduction in charges by an average of 47% for M-PESA paybills and an average of 61% for Business to customer charges.” Safaricom Announced

The new tariffs are also applicable to bank charges that were previously zero rated. The new tariffs come into effect from 1st January 2023.

Below is a table with detailed latest Mpesa charges

New Mpesa Charges From 2023

MINMAXTransfer to Other Mpesa Users ChargesAgent Withdrawal Charges
149FREEN/A
50100FREE10
101500627
5011,0001228
1,0011,5002228
1,5012,5003228
2,5013,5005150
3,5015,0005567
5,0017,5007584
7,50110,00087112
10,00115,00097162
15,00120,000102180
20,00135,000105191
35,00150,000105270
50,001150,000105300

 

The new changes comes at a time many banks businesses had opted for bank Paybill options avoiding tills that were eating into their profits.

See also  CITAM Parklands M-Pesa Paybill Number | Tithes and Offerings

Safaricom has also announced new charges for transactions between bank accounts and M-Pesa where bank to M-Pesa transaction charges have been reduced by an average of 61 percent and M-Pesa to bank charges have been reduced by an average of 47 percent.

This is after the Central Bank of Kenya (CBK) two weeks ago announced the reintroduction of charges for transactions between mobile money wallets and bank accounts after negotiation with lenders and mobile money payment firms.

“The reduced M-Pesa to bank tariff will also apply to all M-Pesa paybill payments that customers use for utilities such as electricity, hospital bills, schools, government payments etc. to ensure affordability,” said Safaricom in an earlier statement last week.

Struggling to sell!!!? People are selling and buying items in your area. Sell anything on the largest online marketplace in Kenya. Visit Sokoplus.co.ke

 

John Kabi

John has a lot of insights on matters business and finance. When he is not writing, you will meet him in business forums and he likes reading a lot during his free time