If you use Safaricom’s M-Pesa, then you should know that the telco has adjusted its rates upwards as of the 1st of July 2018. The adjusted M-Pesa 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.
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. For the other transactions, you should be ready to pay a little bit more for each transactions. Nothing crazy but you will feel the pinch if you regularly use M-Pesa for business or personal purposes.
Below is a look at the new M-Pesa rates introduced by Safaricom.
|Transaction Range (KShs)||Customer Charges
Transaction Type and Customer Charges (KShs)
|Min||Max||Transfer to M-PESA Users||Transfer to Other Mobile Money Users||Transfer to Unregistered Users||Withdrawal from M-PESA Agent|
ATM Withdrawal Rates
|Transaction Range (KShs)||Customer Charge|
|Buying Airtime through M-PESA||FREE|
|M-PESA Balance Enquiry||FREE|
|Change M-PESA PIN||FREE|
Maximum Account balance Is Ksh 100,000
Maximum daily transactions value is Ksh 140,000. Maximum per transaction is Ksh 70,000
You cannot withdraw less than Ksh 50 at an M-Pesa agent outlet