M-PESA Charges (2024)

FAQs

What are the current M-Pesa charges? ›

As an M-PESA Agent, you will be charged a fee of 0.123 % of the total value of the amount requested. M-PESA Agents can access credit for working float to enhance their customer deposit.

Withdrawing KES 5,000 from your M-Pesa account at an M-Pesa agent or ATM will cost you KES 69. Withdrawing even a shilling more, i.e KES 5,001 hikes that withdrawal cost to KES 87 for agent withdrawals, and KES 115 for ATM withdrawals.

The Central Bank of Kenya has granted approval to Safaricom Plc to increase the M-PESA account limit to KSh. 500,000. This new limit, effective from August 15, 2023, applies to all M-PESA customers. In addition to the increased account limit, M-PESA customers will also enjoy a raised daily transaction limit of KSh.

The business owner will be charged a maximum of 0.55% and not more than KSh. 200 per transaction for money collected on the till. Collections of KSh. 200 and below are FREE. There are no customer charges for payments made to the M-PESA Business Till except for payments made at fuel stations.

Agents earn a commission from Safaricom whenever they make deposits or withdrawals for their clients.

In contrast, the average cost of PESA or TESA, which are performed as separate procedures in conjunction with the IVF/ICSI cycle, was $725 (range, $400–$1455; median, $725).

Safaricom confirmed that it now holds 100% ownership of M-Pesa, a company that manages billions of Kenyan shillings in customer deposits.

Safaricom's M-PESA customers can now hold up to KES 500,000 ($3,480 in the current exchange rate) in their wallet accounts following approval from the Central Bank of Kenya. The changes will take effect from August 15. Safaricom has also increased the daily transaction limit to KES 500,000 ($3,480) per day.

How much does M-PESA charge to paypal? ›

For each Withdrawal and Top Up transaction, you will be charged a 3% conversion fee.

M-Pesa customers were allowed to transact up to Sh500,000 per day after the telco increased the daily limit by Sh200,000. That was the second time Safaricom increased the transaction limit after the first one was approved in March 2020 from Sh150,000 to Sh300,000.

M‑PESA provides quick and easy financial services to anyone with a mobile phone. You do not need a bank account to use M‑PESA, just a Safaricom SIM card!

Michael Joseph explains why M-Pesa did not perform as well in the Indian market as the company had originally hoped. currency as well as 'black money,' i.e., income on which tax has illegally not been paid, exacerbates the problem of over- reliance on cash (D'Cunha, 2017).

Established on 6th March 2007 by Vodafone's Kenyan associate, Safaricom, M-PESA is Africa's leading mobile money service with more than 660,000 active agents operating across the Democratic Republic of Congo (DRC), Egypt, Ghana, Kenya, Lesotho, Mozambique, Ethiopia and Tanzania.

How much will I be charged to send 1000 shillings? It will now cost Ksh.13 to send between Ksh. 501 and Ksh. 1000 up from Ksh.12.

The business owner will be charged a maximum of 0.5% and not more than KShs. 200 per transaction for money collected on the till. Collections of Ksh 200 and below are FREE. There are no customer charges for payments made using Lipa na M-PESA Buy Goods except for payments made at fuel stations.

The increased transaction limit follows approval by the Central Bank of Kenya and comes on the heels of the previous approval for daily limit and M-PESA limit increases to KSh. 500,000 per day from 14th August 2023. Current maximum transaction fees will apply across the new bands including KSh.