A couple of weeks ago, Bank-to-M-Pesa charges were re-introduced.
This was after the Central Bank of Kenya (CBK) reinstated the mobile money wallet to bank account and vice-versa charges that had been dropped since 2020 at the onset of the COVID-19 pandemic.
This might sound like a bad thing, and it is, but the charges have been revised and are significantly lower than they were pre-pandemic.
In the new changes, Bank-to-M-Pesa charges have been reduced by an average of 61%.
Additionally, M-Pesa-to-Bank charges have been reduced by an average of 47% and is applicable to customers making M-Pesa to bank transactions.
Transactions below Ksh 100 remain zero rated.
The following revised tariffs will be effective starting 1st January 2023.
M-Pesa Business-To-Consumer (B2C) New Tariffs
| Transaction bands | Charges | |
|---|---|---|
| Min | Current | New |
| 1 – 100 | 15.27 | 0 |
| 101 – 1,500 | 15.27 | 5 |
| 1,501 – 5,000 | 22.4 | 8 |
| 5,001 – 20,000 | 22.4 | 10 |
| 20,001 – 150,000 | 22.4 | 12 |
Consumer-To-Business (C2B) New Tariffs
| Transaction bands | Charges | |
|---|---|---|
| Min | Current | New |
| 1 – 100 | 0 | 0 |
| 101 – 500 | 23 | 5 |
| 501 – 1,000 | 23 | 8 |
| 1,001 – 1,500 | 35 | 10 |
| 2,501 – 3,500 | 35 | 12 |
| 3,501 – 5,000 | 56 | 33 |
| 5,001 – 7,500 | 56 | 40 |
| 7,501 – 10,000 | 85 | 46 |
| 10,001 – 15,000 | 113 | 55 |
| 15,001 – 20,000 | 113 | 60 |
| 20,001 – 25,000 | 113 | 65 |
| 25,001 – 30,000 | 113 | 78 |
| 30,001 – 35,000 | 113 | 87 |
| 35,001 – 40,000 | 202 | 96 |
| 40,001 – 45,000 | 202 | 105 |
| 45,001 – 50,000 | 202 | 105 |
| 50,001 – 150,000 | 210 | 105 |
The revised tariffs have been structured to ensure alignment with the CBKs pricing principles on customer centricity; transparency and disclosure; fairness and equity; choice and competition as well as affordability.
