Effective 1st July 2018 New Mpesa charges, rates were introduced by Safaricom. The new 2020 mpesa tariffs for sending or transferring, withdrawing or depositing money through Safaricom agents or paybill numbers have been highlighted below.
Why did Safaricom increase Mpesa Charges in July 2018?
June 2018 Budget statement read by CS Rotich increased excise duty on mobile money transactions through the Finance Bill, 2018 and The Provisional Collection of Taxes and Duties Act thus forcing Safaricom to review and consequently increase mpesa charges.
New Mpesa Charges on Withdrawals through Agents (Reviewed 2018)
This the amount it will cost you to withdraw money from any mpesa agent in Kenya with the new mpesa charges introduced on 1st June 2018 by Safaricom. The mpesa rates are for registered users.
New Mpesa Charges for Paybill transactions (Reviewed 2018)
These are the new mpesa charges for paybill transactions only for the tariff where the business does not incur sending charges.
Summary of all New Mpesa Charges (Reviewed July 2018)
This is a summary of all the 2020 new charges for transferring money through mpesa for registered and unregistered users and for transferring to other mobile money users.
A few points to note about Mpesa account and transaction limits
- Maximum mpesa account balance one can hold is Ksh.100,000
- Maximum amount you can transact through mpesa in a day is ksh. 140,000
- Maximum you can transact in a single install is Ksh. 70,000
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- Safaricom Home Fibre-Provides unlimited cheap internet services for homes
- Mshwari-Provides mobile loans services
- Mpesa 1 Tap
- Safaricom Paypal-allows transfer of money from paypal to mpesa
- Mpesa Academy-Learning Institution started by Safaricom Limited
- Mpesa Founder-History of Mpesa
Do not miss all our latest updates on 2020 new mpesa charges for transferring money in Kenya