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Safaricom INCREASES (YES!!) M-Pesa Transfer Rates by 67 Per Cent

mpesa

Safaricom announced through its online handles that it was reducing the m-pesa transfer rates by 67%. That seems not to be the truth as it seems that Safaricom just did the opposite. The dominant operator has increased most of the rates (from Ksh 2500 transactions upwards) by a minimum of 67%.

While it it now cheaper to transfer cash below Ksh 1,500, it is becoming expensive to send any amount above Ksh 1,500.

Old rates

Customer Charges
Transaction Range (Ksh)Transaction Type and Customer Charge (Ksh)
MinMaxTransfer to other
M-PESA Users
Transfer to Unregistered UsersWithdrawal from
M-PESA Agent
10493N/AN/A
501005N/A10
101500276627
5011,000336627
1,0011,500336627
1,5012,500336627
2,5013,500338849
3,5015,0003310566
5,0017,5005514382
7,50110,00055171110
10,00115,00055220159
15,00120,00055237176
20,00125,00082275187
25,00130,00082275187
30,00135,00082275187
35,00140,00082N/A275
40,00145,00082N/A275
45,00150,000110N/A275
50,00170,000110N/A330
ATM Withdrawal
Transaction Range (Ksh)
MinMaxCustomer Charge
2002,50033
2,5015,00066
500110,000110
10,00120,000193

New Rates

Customer Charges
Transaction Range (Ksh)Transaction Type and Customer Charge (Ksh)
MinMaxTransfer to other
M-PESA Users
Transfer to Unregistered UsersWithdrawal from
M-PESA Agent
10491N/AN/A
501003N/A10
101500116627
5011,000156627
1,0011,500256627
1,5012,500406627
2,5013,500558849
3,5015,0006010566
5,0017,5007514382
7,50110,00085171110
10,00115,00095220159
15,00120,000100237176
20,00125,000110275187
25,00130,000110275187
30,00135,000110275187
35,00140,000110N/A275
40,00145,000110N/A275
45,00150,000110N/A275
50,00170,000110N/A330
ATM Withdrawal
Transaction Range (Ksh)
MinMaxCustomer Charge
2002,50033
2,5015,00066
500110,000110
10,00120,000193

The changes only affect person to person transfer and not ATM withdrawals, transfer to unregistered users and agent withdrawals. It is interesting how Safaricom sells REDUCTION of rates story while in actual sense, it is increasing the rates considering that most users now transact above Ksh 1,500 on average.

Written by Robert

Robert Alai is a respected Kenyan blogger, technical evangelist, and social justice activist. Robert is known for his hard-hitting articles and opinions disseminated through his Twitter handle or Facebook page. he is the founder of KahawaTungu.

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