KCB Bank has reduced the cost of sending money via Pesalink, introducing a flat fee of KSh20 for transactions above KSh1,000 and waiving charges entirely for transfers below that threshold.
With this announcement, the bank joins DTB and GTBank who both recently lowered their fees.
Under the revised structure, customers can send between KSh1,000 and KSh999,999 at a fixed cost of KSh20. Smaller everyday transfers will from now be processed at no cost.
Annastacia Kimtai, Managing Director at KCB Bank Kenya, said the initiative is part of a broader push to expand access to financial services by lowering transaction costs and offering simpler alternatives.
“By standardizing Pesalink transaction fees at KSh20, we are eliminating price ambiguity and offering a clear, predictable cost for bank-to-bank transfers. This positions Pesalink as a practical and affordable option for individuals and businesses, driving wider adoption of formal financial services,” she said.
Kimtai added that the move aligns with the bank’s digital transformation agenda that focuses on using technology and partnerships to deliver more efficient, customer-centric solutions.
IPSL CEO Gituku Kirika noted that the “Tuma Direct na 20/-” initiative is a collaborative effort across the banking sector to simplify pricing and accelerate adoption of instant payments.
“KCB is taking an important step toward deepening financial inclusion and strengthening Kenya’s position as a leader in digital financial services,” Kirika said.
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