Jul 01, 2018 the new mpesa charges announced by safaricom are between ksh. Safaricoms new mpesa charges effective july 1st 2018. Safaricom introduces new mpesa transaction charges. 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.
Jun 30, 2018 mpesa charges for sending money and withdrawal took effect on july 1, 2018. Safaricom has however limited the number of times you can send ksh. Below we present tariffs for varying amount of money transacted via mpesa paybill. Here are the new mpesa charges for the different scenarios.
Mpesa charges will depend on the amount you are sending or withdrawing. Jun 30, 2018 published on 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. They take effect on sunday july 1, 2018 mpesa users are only. Below are the safaricom mpesa charges 2018 for all tariffs both withdrawal, transfer to both. Mpesa pay bill charges the charges below shall apply for amounts being paid to the sacco through mpesa. Today, as it faces new challenges, it has 30 million users in 10 countries and three continents. This is a revolutionary banking product from cba and vodacom that allows you to save money. Now, these tariffs charges by the telecommunication company, largely depends on the amount in question. The following are the mpesa charges for sending money that was updated in 2018 by safaricom llc. Mpesa withdrawal charges and rates latest as indicated in the mpesa charges table below, you can not withdraw less than ksh 50 from an mpesa agent but you can transfer any amount greater than ksh 10 to another mpesa user. Mpesa charges for sending money and withdrawal released by safaricom are set to take effect on july 1, 2018. Members should ensure the remittances include the charges below while. New mpesa transaction charges will take effect starting sunday, july 31 tax on mobile money transfer was introduced in 20 at a a rate of 10% treasury cs henry rotich increased the rate to 12% when he read the 2018 2019 budget.
Mpesa charges for sending money and withdrawal took effect on july 1, 2018. New mpesa tariffs, 2020 charges for sending and withdrawal. The adjusted mpesa rates as of july 2018 are in line. The mpesa charges have increased by an average of 1 shilling for withdrawing, including via atms, and sending money. Kenyans will now have to pay more while sending and receiving money via safaricoms mpesa starting sunday july 1 2018. According to the company, the change was necessitated by the finance bill 2018 which raises the excise tax on mobile money. For the avoidance of doubt, we have compiled the various mpesa rates according to the transaction and the money involved. 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. Below are the safaricom mpesa charges 2018 for all tariffs both withdrawal, transfer to both registered and unregistered users. Apr 05, 2020 safaricom implemented the new mpesa rates after the kenyan government proposed a 2% increase in the excise duty charged on service providers. Kenyans will from july 1 have to dig deeper into their pockets as the new charges for the money transfer service mpesa take effect.
Min max charge 200 2,500 34 2,501 5,000 67 5,001 10,000 112 10,001 20,000 197 other transactions kshs all deposits free mpesa registration free buying airtime through mpesa free mpesa balance enquiry free change mpesa pin free pursuant to the finance bill 2018 and the provisional collection of taxes and duties act. Jul 02, 2018 first in line is safaricom who recently announced a change in their mpesa transaction charges effective july 1, 2018. 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 come after the government introduced a 12 per cent excise tax on mobile money transfers. Mpesa withdrawal charges and rates latest as indicated in the mpesa charges table below, you can not withdraw less than ksh 50 from an mpesa agent but.
In his budget reading, treasury cs henry rotich revealed that. Here are the new mpesa transaction charges effective july. New safaricom mpesa charges to take effect on july 1. These rates came as a result of a 2% increment from 10% to 12% in mobile money transaction costs as announced by the treasury cabinet secretary. Wondering the charges or rates you are likely to incur for sending money and withdrawing within kenya via mpesa. Feb 21, 2017 the mpesa mobile payment system was launched in kenya in 2007. These are the new mpesa rates after the government increased tax on mobile money. As a result, below are the mpesa withdrawal charges or rates for the years. The new mobile money transfer tax came into effect on july 1 st 2018, through the 2018 finance bill. Also there are mpesa charges 2018 for atm withdrawals. The maximum one can send using mpesa is ksh 70,000 per transaction. Below is a look at the new mpesa rates introduced by safaricom.
As a result, below are the mpesa withdrawal charges or rates for the years 2019 2020. Jul 01, 2018 safaricom effects new mpesa transaction costs sunday july 1 2018 following the proposed two per cent increase on the excise duty charged on service providers, safaricom has revised mpesa. These are the new safaricom mpesa withdrawal and sending charges as of 2020. How to do mpesa reversal by sending message to 456 new method below are the mpesa commission tables for mpesa agents. For mpesa accounts that are not used for more than 150 days, a fee of tsh 600 will be charged for account maintenance every month. The transaction cost is therefore higher when sending and withdrawing money through mpesa. 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.
New safaricom mpesa charges to take effect on july 1 youtube. These new mpesa rates were released in august 2014. The new mpesa charges announced by safaricom are between ksh. Mpesa rates 2019 safaricom mpesa charges and tariffs. Below is a table highlighting mpesa rates for withdrawal of money from an mpesa agent, transfer of money to unregistered users, transfer charges to registered users and charges for withdrawing from an atm as of 2018.
In this article, we will answer all the above questions for the new mpesa rates, effective 1st june 2018. These rates effected on 1st july 2018 according to an announcement made by kenyas leading. This facility allows you to transfer funds from your mpesa mobile account directly to your cba account. May 12, 2018 when depositing and withdrawing money via mpesa paybill number,you incur costs. The mobile network provider, safaricom has announced new mpesa tariffs that will see their customers dig deeper into their pockets. The new mpesa tariffs, which take effect immediately, are below. Safaricom adjusted their mpesa charges, effective 1st july 2018. Mpesa charges depend on the amount you are sending or withdrawing. Cpd calendar of events cpd calendar of events 201820182018 3 27th april 2018 8. Jan 23, 2020 wondering the charges or rates you are likely to incur for sending money and withdrawing within kenya via mpesa. You can use your mpesa menu to buy airtime for your phone, or for someone else. Business mgao tariff split charges between customer and business.
Mpesa charges for sending and withdrawing money 2018. The transaction cost is therefore higher when sending and. Mpesa charges 2018 for sending money and withdrawal in kenya. New mpesa transaction charges will take effect starting sunday, july 31 tax on mobile money transfer was introduced in 20 at a a rate of 10% treasury cs henry rotich increased the. Published on 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. Safaricom effects new mpesa transaction costs sunday july 1 2018 following the proposed two per cent increase on the excise duty charged on service providers, safaricom. With these mpesa sending and withdrawal charges, registered safaricom users will pay ksh15 for sending ksh and ksh28 to withdraw the same amount. These are the new mpesa rates after the government increased tax on mobile money transfers by 2% on july 1 st 2018. Safaricom implemented the new mpesa rates after the kenyan government proposed a 2% increase in the excise duty charged on service providers. Jul 01, 2018 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.
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. Mpesa withdrawal charges and rates posted in mpesa kenya, mpesa pay bill last updated on march 2nd, 2020 by harrison m current safaricom mpesa charges for sending and withdrawing money though a safaricom agent, atm and mpesa tariffs when transferring cash both to registered and nonregistered mpesa users. Safaricom hikes mpesa charges, to take effect on july 1. These rates came as a result of a 2% increment from 10% to 12% in mobile money transaction costs as announced by the treasury cabinet secretary, henry rotich. As you will see below, there is still no transaction cost when sending less than ksh 100 but you will be limited to three transactions per day. Effective 1st july 2018 new mpesa charges, rates were introduced by safaricom. Feb 23, 2020 these are the new safaricom mpesa withdrawal and sending charges as of 2020.
Mpesa is a mobile payment solution offered by safaricom. The mpesa mobile payment system was launched in kenya in 2007. You can also use your mpesa to buy airtime for your phone, or for someone else. Safaricom mpesa is the mostly accepted and used mobile money transfer service. The charges vary depending on the amount to transact.
Jul 01, 2018 safaricom has today adjusted their mpesa charges. Dec 22, 2017 safaricom mpesa is the mostly accepted and used mobile money transfer service. This service is free and you will only pay for the airtime purchased. If you wish to make a balance query you will be charged tsh 60. Techish kenya focuses mostly on opinions on tech, business, entrepreneurship and startups. When depositing and withdrawing money via mpesa paybill number,you incur costs. New mpesa charges, fees and tariffs starting july 2018. The new mpesa tariffs rates are in compliance with the finance. Members should ensure the remittances include the charges below while transferring the funds transaction bands mpesa charges min max ksh. Below is a table highlighting mpesa rates for withdrawal. Safaricom mpesa withdrawal and sending charges 2020. On july 1st, 2018, safaricom introduced new mpesa charges following the 2% increment in mobile money transactions. Mpesa the largest and most innovative mobile financial service in tanzania has enriched its transaction experience by launching its mpesa app.
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. The new 2020 mpesa tariffs for sending or transferring. Mobile network provider, safaricom has announced new mpesa tariffs that will see their customers dig deeper into their pockets. Safaricom kenya mpesa transfer and withdrawal charges depend on the amount in the transaction.
Mpesa charges 2020 withdrawal sending from agent pdf. First in line is safaricom who recently announced a change in their mpesa transaction charges effective july 1, 2018. They take effect on sunday july 1, 2018 mpesa users are only allowed three free mobile transfers per day of amounts below sh. New mpesa transaction charges consumers will now have to dig deeper into their already stretched pockets as the new revised mpesa transaction charges take effect. Effective sunday, july 1st 2018 mpesa tariffs no transaction without an original id ke customer charges. These rates effected on 1st july 2018 according to an announcement made by kenyas leading mobile network operator. If you want to know how much mpesa agents earn per transaction check the mpesa 2018 commission tables below. This increase forced safaricom to adjust upwards the amount they charge you to transact mpesa.
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. The mobile network provider, safaricom has announced new mpesa tariffs that will see their. These are the new mpesa rates as of july 2018 techarena. Safaricom effects new mpesa transaction costs daily nation. The new mobile money transfer tax came into effect on july 1st 2018, through the 2018 finance bill. New mpesa charges effective july 1 summary kenyans will now have to pay more while sending and receiving money via safaricoms mpesa starting sunday july 1 2018. We will look at what safaricom is charging currently for their services. Mpesa charges 2020 withdrawal sending from agent pdf ugwire. 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. Lipa kwa mpesa is vodacoms merchant payments solution to digitize payments in. It will now cost ksh26 to send ksh1,500 and sh56 for ksh 3,500.
Sending ksh1,000 will cost ksh15 while a rate of ksh28 will be charged for withdrawing the same amount. The above table is for mpesa withdrawal charges in 2020. Mpesa withdrawal charges 2019 that safaricom mpesa agents. The following are the mpesa charges for sending money that was updated in 2018 by.
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