Safaricom hikes mpesa charges, to take effect on july 1. To check the status of your card, compose a new text message with the letters id followed by space then your id number to 21101. The mpesa charges have increased by an average of 1 shilling for withdrawing, including via atms, and sending money. It will now cost ksh26 to send ksh1,500 and sh56 for ksh 3,500. Mpesa charges for sending money and withdrawal calculator mpesa withdrawal charges from agent minkshs. Range ksh transaction type and customer charge ksh transfe r to withdrawal other from. Mpesa charges will depend on the amount you are sending or withdrawing.
Pesa has spread quickly, and has become the most successful mobile phone. Feb 23, 2020 these are the new safaricom mpesa withdrawal and sending charges as of 2020. For new users create an account with a username and password. Lipa na mpesa is a popular payment method that is popular among serious businesses in the country. Mpesa withdrawal charges and rates 2020 victor matara. Above all, safaricom clients have been impressed since they spend little to settle bills through the services. Mobile network provider, safaricom has announced new mpesa tariffs that will see their customers dig deeper into their pockets. New safaricom mpesa charges to take effect on july 1 youtube. The second table shows the rates for sending money to other mpesa users both registered and unregistered users. Mledger is a fullfeatured android application that helps you manage and make sense of your mpesa transactions all on your phone. Though mpesa merchant payments are growing by the day, the firm needs to make the system faster especially the lipa na mpesa option which can really be a nuisance at pos points, open up its new mpesa one touch to fuliza services and reduce sim swap fraud which is scaring people from using or storing money on in their mpesa wallets. The vodacom tariffs include charges for transfers to other registered customers which are lower, just like in kenyas safaricom mpesa. All the convenience at rates so affordable you cannot feel them. These are the new safaricom mpesa withdrawal and sending charges as of 2020.
In second place is equitel, a mobile money service operated by equity bank. Prior to mpesa, mobile phone customers had engaged in trading prepaid airtime. Mpesa is a mobile money transfer service that allows individuals to send and receive money in kenya and east africa. 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%. The new mpesa charges that took affect as from 19th august, 2014, will see, the telecommunications giant safaricom getting a total increase in mpesa withdrawal charges increasing by ksh 289. Due to increased taxes in the mobile money industry, there are new mpesa charges, fees and also tariffs starting july 2018. How to do mpesa reversal by sending message to 456 new method below are the mpesa commission tables for mpesa agents. On some transaction you dont get charges, like when buying safaricom airtime using mpesa. For the avoidance of doubt, we have compiled the various mpesa rates according to the transaction and the money involved.
Ensure you have sufficient funds in your mpesa account to cover the amount you are paying and the relevant charges. Practitioners insight mpesa a success story of digital. New safaricom mpesa charges 2020 and mpesa withdrawal tariffs. Also there are mpesa charges 2018 for atm withdrawals. Mpesa charges 2019 for sending money and withdrawal in kenya. Feb 10, 2020 below is a comprehensive table showing new mpesa rates for withdrawing money from an agent in 2020. Account no is xxxxxndl where xxxxx is the members id no and ndl is the product code for normal development loan. When depositing and withdrawing money via mpesa paybill number,you incur costs. Safaricom mpesa withdrawal and sending charges 2020. New mpesa charges, fees and tariffs starting july 2018. The new mpesa tariffs rates are in compliance with the finance bill, 2018 and the provisional collection of taxes and duties act that require customers to be charged 12 per cent up from 10 percent of. The new mobile money transfer tax came into effect on july 1 st 2018, through the 2018 finance bill. The new products created by kenyas banks in the wake of mpesa have driven change in banks business models, including a shift in focus to increasingly lower income consumers.
Calculate how much it will cost to withdraw from an. These are the new mpesa rates as of july 2018 techarena. The new 2019 mpesa tariffs for sending or transferring, withdrawing or depositing money through safaricom agents or paybill numbers have been highlighted below. Among the pioneers of this revolution was the famous mpesa technology which gave a new dimension to money transfer, an option embraced by despite the success that has come along with the mpesa mobile money service in kenya since inception some years ago, maintaining this. Mpesa charges have been revised for the year 20202021.
Mpesa charges 2020 withdrawal sending from agent pdf. Kenyans will now have to pay more while sending and. New mpesa tariffs, 2020 charges for sending and withdrawal. You need to be an mpesa registered customer as the service is available for mpesa registered users only 2. The charges vary depending on the amount to transact. The maximum daily mpesa transaction limit is ksh 140,000. Below is a pdf chart list of the new safaricom lipa na mpesa paybill charges rate for 2020. 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. Mpesa can enable and even incentivize innovation in the banking sector.
Use the mpesa rates calculator to get mpesa fees for sending or withdrawing any amount. Effective 1st july 2018 new mpesa charges, rates were introduced by safaricom. Here are the mpesa charges for sending money, withdrawal 2020. The new mpesa tariffs rates are in compliance with the finance 0. You can use your mpesa menu to buy airtime for your phone, or for someone else. As a result, this has enabled business owners to intensify and effectively grow their businesses. Aug 20, 2019 distinctly, you wont pay a shilling for mpesa registration, and there are likewise no charges for the production of safaricom mpesa statement that much we know. Safaricom lipa na mpesa paybill charges and rates for. Jul 01, 2018 mpesa charges for sending money and withdrawal calculator mpesa withdrawal charges from agent minkshs. You can also use your mpesa to buy airtime for your phone, or for someone else.
Aug 20, 2014 safaricom the kenyan giant telecommunication company has yet again revised the mpesa charges. Safaricoms mpesa has a new rival in pesalink from kenya. Jun 30, 2018 mpesa charges for sending money and withdrawal took effect on july 1, 2018. Bank summary minimum rate of charges, commission and. On july 1st, 2018, safaricom introduced new mpesa charges following the 2% increment in mobile money transactions. Dec 22, 2017 safaricom mpesa is the mostly accepted and used mobile money transfer service. In this article, we will answer all the above questions for the new mpesa rates, effective 1st june 2018. Charges, deducted from users accounts, are levied when e. The new mpesa tariffs rates are in compliance with the finance. What are the new mpesa charges and rates and in kenya for 2019. Safaricom mpesa sending charges 2020 pdf similarly, we shall list safaricom mpesa transaction charges sheet and pdf chart for sending money for 2020. This is a revolutionary banking product from cba and vodacom that allows you to save money.
In this comprehensive post, we highlight the new tariffs and rates that youll be paying for your mpesa transactions. Jan 03, 2019 mpesa charges for sending money and withdrawal released by safaricom are set to take effect on july 1, 2018. Safaricom has adjusted mpesa tariffs on the basis of finance bill, 2018 and the provisional collection of taxes and duties act. You cannot deposit money directly into another mpesa customers account at an agent outlet. Distinctly, you wont pay a shilling for mpesa registration, and there are likewise no charges for the production of safaricom mpesa statement that much we know. Lipa kwa mpesa is vodacoms merchant payments solution to digitize payments in the tanzania retail ecosystem and enable merchants and retailers collect payments seamlessly while helping customers to avoid the risks and burdens of carrying cash. In addition to answering these questions, i will also provide other information i deem important. These rates effected on 1st july 2018 according to an announcement made by kenyas leading mobile network operator. New users need to create an account with a username and password. Now, these tariffs charges by the telecommunication company, largely depends on the amount in question. Jul 01, 2018 safaricom effects new mpesa transaction costs.
Other innovative services built on the original mpesa model include. Mpesa withdrawal charges 2019 that safaricom agents charge you when withdrawing cash through mpesa vary depending on the amount you are sending or withdrawing through an atm. Below are the safaricom mpesa charges 2018 for all tariffs both withdrawal, transfer to both registered and unregistered users. Mpesa rates, mpesa tariffs, mpesa withdrawal charges, m. Mpesa charges for sending money and withdrawal released by safaricom are set to take effect on july 1, 2018. M calculator help you solve simple but time consuming mpesa and mshwari transaction charges calculations. Feb 21, 2017 the mpesa mobile payment system was launched in kenya in 2007.
New safaricom mpesa charges to take effect on july 1 kenyans will from july 1 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect. Apr 05, 2020 read on to find the updated mpesa charges in 2020. Safaricom cited the financial bill 2018 and the provisional collection of taxes and duties act as the reason for the adjustment in the mpesa. Sending ksh1,000 will cost ksh15 while a rate of ksh28 will be charged for withdrawing the same amount. May 12, 2018 when depositing and withdrawing money via mpesa paybill number,you incur costs. The application solve all mpesa and mshwari transactions calculations. Jun 30, 2018 new safaricom mpesa charges to take effect on july 1 kenyans will from july 1 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect. Safaricom effects new mpesa transaction costs daily nation. Mpesa rates 2019 safaricom mpesa charges and tariffs. Safaricom implemented the new mpesa rates after the kenyan government proposed a 2% increase on the excise duty charged on service providers. Its also worth noting that mpesa charges increased with the passage of the new finance bill 2018 by the kenyan parliament and the provisional taxes and duties collection act sometimes in mid2018.
You cannot deposit money directly into another mpesa customers account at. Transaction cost calculator to calculate mpesa charges. Jul 01, 2018 safaricom has today adjusted their mpesa charges. When making payments to registered mpesa merchants, you will be charged a small fee of 0. Safaricom pushes for mpesa use to help reduce the spread. The mobile network provider, safaricom has announced new mpesa tariffs that will see their customers dig deeper into their pockets.
Kenyans will from july 1 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect. New mpesa charges 2019 updated mpesa rates fleekbook. These vodacom tanzania mpesa tariffs and charges are applicable when sending and receiving money. Here are the safaricom mpesa rates mpesa charges safaricom mpesa transactional charges and tariffs mpesa charges withdrawal from mpesa agent. Safaricom kenya mpesa transfer and withdrawal charges depend on the amount in the transaction. To initiate mpesa self reversal, send the transaction con. Mpesa charges 1 49 na 50 100 10 101 500 27 501 1,000 28 1,001 1,500 28 1,501 2,500 28 2,501 3,500 50 3,501 5,000 67 5,001 7,500 84 7,501 10,000 112 10,001 15,000 162 15,001 20,000 180 20,001 35,000 191. In essence, mpesa is a persontoperson p2p money transfer system that allows individuals to make payments and send remittances. At the end of the guide, i will provide you with the latest mpesa charges pdf 2019 so you can refer to it while offline. If you want to know how much mpesa agents earn per transaction check the mpesa 2018 commission tables below.
Vodacom tanzania mpesa tariffs and charges for 2015. Jun 30, 2018 mobile network provider, safaricom has announced new mpesa tariffs that will see their customers dig deeper into their pockets. Jun 30, 2018 kenyans will from july 1 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect. Safaricom new mpesa charges in comparison with the old mpesa.
Safaricom further said that customers will not be able to withdraw less than sh. Here are the latest mpesa tanzania charges for 2019. This service is free and you will only pay for the airtime purchased. Safaricom implemented the new mpesa rates after the kenyan government proposed a 2% increase on the excise duty charged on. The new mpesa tariffs, which take effect immediately, are below. Dec 28, 2019 the safaricom selfcare web portal enables you to keep track of your mpesa and safaricom sim card usage. Safaricom mpesa charges 2020 withdrawal sending from agent pdf. Effective sunday, july 1st 2018 mpesa tariffs no transaction without an original id ke customer charges transaction range kshs transaction type and customer charges kshs min max transfer to mpesa users transfer to other mobile money users transfer to unregistered users withdrawal. Here are the latest mpesa transaction charges that you will pay when you send. Safaricom mledger allows you to export all your mpesa transactions to excel, pdf, word. Below is a comprehensive table showing new mpesa rates for withdrawing money from an agent in 2020. This increase forced safaricom to adjust upwards the amount they charge you to transact mpesa. In his budget reading, treasury cs henry rotich revealed that. 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.
Safaricom lipa na mpesa paybill charges 2020 chart rate. Safaricom mpesa rates, mpesa charges, tariffs for shabiki, betika. The adjusted mpesa rates as of july 2018 are in line with the finance bill, 2018 and the provisional collection of taxes and duties act, take effect on july 1, 2018. Pdf mpesa rates and charges isaac mugwandia academia. Business mgao tariff split charges between customer and business. First of all, we shall briefly explain what is the mobile service called mpesa. The hiked charges, which are line with the finance bill, 2018 and the provisional collection of taxes and duties act, take effect on july 1, 2018. New safaricom mpesa charges to take effect on july 1. As you will see below, there is still no transaction cost when sending less than ksh 100 but you will be. The above table is for mpesa withdrawal charges in 2020. Below we present tariffs for varying amount of money transacted via mpesa paybill. The new 2020 mpesa tariffs for sending or transferring.
What are the new mpesa charges for withdrawal from an agent. Mpesa charges depend on the amount you are sending or withdrawing. Below is a pdf chart list of the new safaricom lipa na mpesa paybill charges rate for. Safaricom mpesa is the mostly accepted and used mobile money transfer service. Mpesa as a payments and money transfer platform was developed jointly by safaricom, a telco company, and the commercial bank of africa. In other words, this entails the transaction charges for sending money to both registered and unregistered mpesa users from 2019 to 2020. In this article, we will answer all the above questions for the new. The safaricom selfcare web portal enables you to keep track of your mpesa and safaricom sim card usage. The transaction cost is therefore higher when sending and withdrawing money through mpesa. All new mpesa charges 2020, transferring cost photo. And what is the cost of transferring money to an unregistered safaricom number. Mpesa withdrawal charges 2019 that safaricom mpesa agents. Every now and then when we want to pay, withdraw or send money using mpesa, we always try to remember.
We will look at what safaricom is charging currently for their services. Safaricom mpesa rates for mpesa statement, mpesa agent, atm and. Mpesa withdrawal charges depends on the amount you intend to withdraw. Safaricom lipa na mpesa paybill charges 2020 chart rate ugwire. Commissions are paid out when mpesa customers make deposits or withdraw money from agents. Mpesa charges safaricom mpesa transactional charges and tariffs mpesa charges withdrawal from mpesa agent 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. The maximum one can send using mpesa is ksh 70,000 per transaction. Mpesa charges 2020 withdrawal sending from agent pdf ugwire.
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