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Tricks You Should Use To Reduce Your Mpesa Transaction Costs

It is no secrete that Mpesa charges are too high compared to transaction charges imposed to customers from rival telecommunication companies such as Telkom T-Kash and Airtel money. I even find transaction charges charged by banks quite low compared to what Safaricom Mpesa charges on average.

Many are finding charges imposed by Safaricom Mpesa on their customers for both withdrawals and direct transfer of money from one’s Mpesa wallet to another Mpesa number quite too high. The pain in the neck is that many are forced to bear with these thanks to the dominance of Safaricom Mpesa in the Mobile money industry in Kenya.

Banks have allowed free transfer of funds from bank account to Mpesa and vice versa. But Mpesa continues to heavily mutilate their clients by imposing exorbitant fees on transaction.  For instance, cash withdrawal of Ksh.4,000 from most banks in Kenya via ATM will cost you Ksh.36. On the other hand, Mpesa will charge you Ksh. 56 to send Ksh 4,000 to an Mpesa Paybill number, Sh.55 for to send the same amount to another Mpesa number and Ksh. 67 for cash withdrawal from an Mpesa agent.

So how do you eliminate these costs associated with transaction directly using Mpesa?

Use Bank to Mobile Transaction

Following the outbreak of Covid-19, The Central Bank of Kenya issued a directive to all banks and money transfer platforms to waive or review their charges on transfer of money to a certain extend. While most of the directive period elapsed banks still continue to offer free transfer for mobile money.

Instead of sending money directly to another Mpesa number, you can eliminate the costs related to this transaction by first sending money from your Mpesa account and then send the money to the Mpesa recipient directly from your bank account. This way, you will incur zero charges for the transaction since it is free.

Read>>>How to transfer money from M-Pesa to KCB Bank account

In case you are wondering how you can move money from your Mpesa wallet to your bank account, don’t worry, just use the banks’ Mpesa Paybill number and your account number to make the transaction. The good news is that it is free as well to send money from your Mpesa wallet to your bank account using the banks’ Paybill number.

All you need to have in this case is an active bank account number and the banks’ Paybill Number. By visiting your banks online platform, you should be able to get their Paybill number to use for the transaction.

To easily make free transfer of money from your account to any Mpesa number use the banks short USSD code or download the bank’s Mobile money app from Google PlayStore or Appstore to get started.

The above method will enable you to send money to all your Mpesa clients anytime anywhere at the push of a button and all without any transaction charges.

Read>>>Equity Bank Mpesa Paybill Number: How to deposit money to Equity Bank with Mpesa



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