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)
Min Max Transfer to other
M-PESA Users
Transfer to Unregistered Users Withdrawal from
M-PESA Agent
10 49 3 N/A N/A
50 100 5 N/A 10
101 500 27 66 27
501 1,000 33 66 27
1,001 1,500 33 66 27
1,501 2,500 33 66 27
2,501 3,500 33 88 49
3,501 5,000 33 105 66
5,001 7,500 55 143 82
7,501 10,000 55 171 110
10,001 15,000 55 220 159
15,001 20,000 55 237 176
20,001 25,000 82 275 187
25,001 30,000 82 275 187
30,001 35,000 82 275 187
35,001 40,000 82 N/A 275
40,001 45,000 82 N/A 275
45,001 50,000 110 N/A 275
50,001 70,000 110 N/A 330
ATM Withdrawal
Transaction Range (Ksh)
Min Max Customer Charge
200 2,500 33
2,501 5,000 66
5001 10,000 110
10,001 20,000 193

New Rates

Customer Charges
Transaction Range (Ksh) Transaction Type and Customer Charge (Ksh)
Min Max Transfer to other
M-PESA Users
Transfer to Unregistered Users Withdrawal from
M-PESA Agent
10 49 1 N/A N/A
50 100 3 N/A 10
101 500 11 66 27
501 1,000 15 66 27
1,001 1,500 25 66 27
1,501 2,500 40 66 27
2,501 3,500 55 88 49
3,501 5,000 60 105 66
5,001 7,500 75 143 82
7,501 10,000 85 171 110
10,001 15,000 95 220 159
15,001 20,000 100 237 176
20,001 25,000 110 275 187
25,001 30,000 110 275 187
30,001 35,000 110 275 187
35,001 40,000 110 N/A 275
40,001 45,000 110 N/A 275
45,001 50,000 110 N/A 275
50,001 70,000 110 N/A 330
ATM Withdrawal
Transaction Range (Ksh)
Min Max Customer Charge
200 2,500 33
2,501 5,000 66
5001 10,000 110
10,001 20,000 193

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.

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  • Martin Mentor

    Equitel is coming soon. We are there to take over the communication market. Monopoly market for safaricom byeeeeeee!