M-Pesa is a popular mobile money transfer service in Kenya, Tanzania, and several other countries. The service has revolutionized the way people conduct financial transactions, especially in countries where traditional banking is not easily accessible. M-Pesa charges fees for various services, including deposits, withdrawals, and transfers. In this article, we will look at all the current M-Pesa charges.
Sending Money
The charges for sending money on M-Pesa vary depending on the amount sent and the country of operation. In Kenya, for instance, the charges are as follows:
- KES 1 to KES 49 – No Charge
- KES 50 to KES 100 – KES 1
- KES 101 to KES 500 – KES 4
- KES 501 to KES 1,000 – KES 9
- KES 1,001 to KES 1,500 – KES 11
- KES 1,501 to KES 2,500 – KES 15
- KES 2,501 to KES 3,500 – KES 25
- KES 3,501 to KES 5,000 – KES 30
- KES 5,001 to KES 7,500 – KES 40
- KES 7,501 to KES 10,000 – KES 55
- KES 10,001 to KES 15,000 – KES 75
- KES 15,001 to KES 20,000 – KES 85
- KES 20,001 to KES 35,000 – KES 95
- KES 35,001 to KES 50,000 – KES 100
- KES 50,001 to KES 70,000 – KES 105
Withdrawal Charges
The fees for withdrawing money from M-Pesa depend on the amount being withdrawn and the location of the withdrawal. In Kenya, the charges for withdrawing money from an M-Pesa agent are as follows:
- KES 1 to KES 49 – No Charge
- KES 50 to KES 100 – KES 10
- KES 101 to KES 500 – KES 27
- KES 501 to KES 1,000 – KES 28
- KES 1,001 to KES 1,500 – KES 28
- KES 1,501 to KES 2,500 – KES 28
- KES 2,501 to KES 3,500 – KES 50
- KES 3,501 to KES 5,000 – KES 67
- KES 5,001 to KES 7,500 – KES 84
- KES 7,501 to KES 10,000 – KES 112
- KES 10,001 to KES 15,000 – KES 162
- KES 15,001 to KES 20,000 – KES 180
- KES 20,001 to KES 35,000 – KES 191
- KES 35,001 to KES 50,000 – KES 270
- KES 50,001 to KES 70,000 – KES 300
M-Pesa ATM Withdrawal Charges
M-Pesa is a popular mobile money transfer service in Kenya that has revolutionized the way people conduct financial transactions. In addition to deposits and transfers, M-Pesa users can also withdraw money from an ATM using their M-Pesa account. .
M-Pesa users in Kenya can withdraw money from an ATM using their M-Pesa account. The following are the charges for ATM withdrawals in Kenya:
- KES 200 to KES 2,500 – KES 34
- KES 2,501 to KES 5,000 – KES 67
- KES 5,001 to KES 10,000 – KES 112
- KES 10,001 to KES 20,000 – KES 197
M-Pesa users can withdraw up to KES 20,000 from an ATM in a single transaction. If a user needs to withdraw more than KES 20,000, they will need to perform multiple transactions.
M-Pesa ATM Withdrawal Process
To withdraw money from an ATM using M-Pesa, the following steps should be followed:
- Visit an ATM that accepts M-Pesa withdrawals.
- Insert the ATM card and select “M-Pesa” from the menu options.
- Enter the amount to be withdrawn and confirm the transaction.
- A withdrawal code will be sent to the user’s mobile phone.
- Dial 15000# on the user’s phone and enter the withdrawal code.
- The ATM will dispense the requested amount.
M-Pesa ATM Withdrawal Limits
M-Pesa users in Kenya can withdraw up to KES 20,000 from an ATM in a single transaction. The daily withdrawal limit is KES 100,000. If a user needs to withdraw more than KES 20,000 in a single transaction, they will need to perform multiple transactions.
Conclusion
the changes to the M-Pesa charges in 2023 are aimed at making the service more sustainable and affordable for users. While there is a small increase in the fees for transactions below Ksh 100, the overall charges remain low, making M-Pesa an accessible and convenient way to send and receive money. If you are a frequent M-Pesa user, it’s important to keep up-to-date with the latest charges to avoid any surprises when sending money.
