Mpesa withdrawal charges 2024 — Mpesa one of the leading digital money banks has announced its new tariff for its users with a lot of increases and decreases in some areas of usage. Mpesa withdrawal charges 2024 Kenya
The world is changing fast and everything is almost going in line with it. Technology has seen vast application in all aspects of human life and so one of its functions is what we are about to discuss now.
With the increase in the use of technology in our banking system, there is also a thing known as mobile banking. This system saw an increase in usage during the COVID-19 days in 2020.
With the increase in usage companies offering these services had to make a lot of changes to protect people and lives. this is the case of one of the best-used mobile banking systems from Safaricom.
There is a new upgrade to the new tariff as announced by Safaricom. Here below, is a piece of detailed information on the Mpesa withdrawal charges for 2024. In this update, you will not only get info on the withdrawal charges alone but with other pretty good information following the changes in the Mpesa withdrawal charges 2024 tariff.
Mpesa withdrawal charges 2024 | About Mpesa
Mpesa or mobile pesa is a mobile money service system. The mobile service can be seen in money or funds transfers, payments of the bill, and microfinancing. It was launched in 2007 by the companies Vodafone and Safaricom largest mobile network operators in Kenya.
The mobile cell phone account can serve as your regular microfinance bank where you store your money, make deposits, payments, withdraw, transfer buy, as well as get credits using your mobile device.
Mpesa withdrawal charges 2024
Mpesa with a combined decision with the Central bank of Kenya took into account the mobile money pricing. And by this, the mobile money service tariff has been reduced to about 45 percent for lower value transaction bands.
- Transactions between Ksh 1 and Ksh 49: Free
- Transactions between Ksh 50 and Ksh 100: Ksh 10
- Transactions between Ksh 101 and Ksh 500: Ksh 27
- Transactions between Ksh 501 and Ksh 1,000: Ksh 28
- Transactions between Ksh 1,001 and Ksh 1,500: Ksh 28
- Transactions between Ksh 1,501 and Ksh 2,500: Ksh 28
- Transactions between Ksh 2,501 and Ksh 3,500: Ksh 50
- Transactions between Ksh 3,501 and Ksh 5,000: Ksh 67
- Transactions between Ksh 5,001 and Ksh 7,500: Ksh 84
- Transactions between Ksh 7,501 and Ksh 10,000: Ksh 112
- Transactions between Ksh 10,001 and Ksh 15,000: Ksh 162
- Transactions between Ksh 15,001 and Ksh 20,000: Ksh 180
How much does it cost to withdraw? Between 50 to 100 Ksh, the new tariff is 10 Ksh. Users are allowed to make multiple withdrawals from any ATM. With a limit to Ksh 20,000 daily.
From 1 to 49 Ksh is free but you are not allowed to with less than 50 from any mpesa agents. Transactions in a day from 50,001 to 150,000 the user pays 300 Ksh as a charge.
Other Information on the Mpesa Transactions
There is a slash in charges for all transactions that go to the minimum so for all transfers to other registered mobile money users.
- All transfers from 1 to 100 are free for all the transactions
- Transfer to other networks, minimum of 200 to a maximum of 2500 gets an of 34 Ksh
- Transaction of up to 2501 Ksh to 5000 gets a charge of 67 Ksh
- And so goes for the rest 5001 min and 10000 = 112 Ksh. Then 10001 to 20000 = 197 Ksh as charge.
There are no charges for transactions like deposits, mpesa registrations, buying airtime using the M-Pesa service, checking balance or balance inquiry as well as changing of pin
With the new tariff plan came the increase in the total amount of Ksh an individual can have in the mobile wallet account and the daily limit went up to 300,000 Ksh.
Mpesa withdrawal charges 2024 Explained Simply
- Mpesa is the leading mobile banking app that was established in Kenya in 2007 by Vodacom and Safaricom. The mobile money wallet provides services like depositing, purchase of goods, payments, transfer, and microfinance services.
- There is new tariff or charges and the Mpesa withdrawal charges 2024 is no doubt a little bit of a comeback from the COVID-19 charges
- The charges allow users, especially those who make fewer transactions not to incur overbearing charges in their accounts.
- the maximum balance for any user is Ksh 300,000 with a daily maximum value of 300,000 Ksh and with that per transaction of 150,000 Ksh
- though you can transfer or make payments and other transactions from 1 to 49 Ksh you cannot withdraw less than Ksh 50 at any M-PESA agent.
- All deposits to the mobile wallet are free of charge
This information on the Mpesa withdrawal charges 2024 provides opened our eyes to the unimaginable function or service the M-Pesa mobile wallet provides. From the above, our users are advised on the best process to follow to reduce transaction charges.
You know what to right? What do you think about mpesa registration and making use of this Kenya-based innovation? Well enough you can use the mpesa services almost anywhere around the world apart from places where they do not have the service rights.
We still have more updates coming from mpesa and Mpesa withdrawal charges 2024 so to get more out of it, you should bookmark this page and always visit for your information.
For other information and other related topics visit us at www.paygoworld.com. As us anything and also comment and tell us what you thought about this post using the comment box below the page. Do not forget to add your email address.