Safaricom PLC has introduced changes to M-Pesa transaction charges and withdrawal fees. Safaricom CEO Peter Ndegwa speaking at a past event. The leading telecommunications and mobile money service provider revised the withdrawal fee for transactions between KSh 50 and KSh 250,000. What are the new M-Pesa withdrawal fees? Speaking exclusively to TUKO.co.ke, Safaricom confirmed that the changes took effect last year.
“It has been a while since the changes to the amount of transaction fees for sending and withdrawing were introduced,” said Safaricom. According to the new M-Pesa tariffs, a transfer of KSh 50 to KSh 100 remains free while the withdrawal fee increased to KSh 11. To withdraw between KSh 101 and KSh 2,500, M-Pesa customers pay KSh 29, up from the previous fee of KSh 28. Below are the new M-Pesa transaction charges: Transaction range (KSh) Paybill and till charges (KSh) Transfer/Send fees (KSh) Withdrawal fees (KSh) 1 – 49 Free Free N/A 50 – 100 Free Free 11 101 – 500 7 7 29 5001 – 1000 13 13 29 1001 – 1,500 23 23 29 1,501 – 2,500 33 33 29 2,501 – 3,500 53 53 52 3,501 – 5,000 57 57 69 5,001 – 7,500 78 78 87 7,501 – 10,000 90 90 115 10,001 – 15,000 100 100 167 15,001 – 20,000 105 105 185 20,001 – 35,000 108 108 197 35,001 – 50,000 108 108 278 50,001 – 250,000 108 108 309
The M-Pesa daily transaction value and account balance limit increased to KSh 500,000. In 2023, the Central Bank of Kenya (CBK) increased the daily mobile money transaction limit to KSh 250,000. Safaricom welcomed the move, incorporating the changes aimed at allowing customers ease of doing business. Safaricom reduces M-Pesa airtime purchase limit In September 2024, Safaricom Group’s voice call revenue dropped 0.6% to KSh 80.5 billion for the financial year 2024. The telco lowered the M-Pesa airtime purchase limit to KSh 1 from KSh 5 to mop up additional revenue. Speaking exclusively to TUKO.co.ke, the telco said the option is available to all customers across different tariffs.
by Wycliffe Musalia
