M-PESA, Safaricom’s mobile money platform, has revolutionized the way financial transactions are conducted in Kenya and beyond. With its convenience and widespread use, millions of users rely on M-PESA daily for various transactions such as sending money, paying for goods and services, and withdrawing cash. However, using M-PESA incurs certain charges based on the type of transaction and the amount involved. Understanding these charges can help customers optimize their use of the platform, saving money and time.
In this blog, we will explore M-PESA tariffs in detail, breaking down the charges based on transaction type, amounts, and other related services.
M-PESA Transaction Charges: A Breakdown
M-PESA customers are charged based on the type of transaction—whether they are sending money, withdrawing it from an agent, or transferring funds to other mobile money users. Here’s a comprehensive breakdown of these charges:
1. Transfer to M-PESA Users, Pochi la Biashara, and Business Till to Customer
For users transferring money within the M-PESA ecosystem—either to another registered M-PESA user, Pochi la Biashara, or a business till—the charges vary depending on the transaction amount. Below is a breakdown:
| Transaction Range (Kshs) | Transfer to M-PESA Users/Pochi la Biashara/Business Till to Customer (Kshs) |
|---|---|
| 1 – 49 | Free |
| 50 – 100 | Free |
| 101 – 500 | 7 |
| 501 – 1,000 | 13 |
| 1,001 – 1,500 | 23 |
| 1,501 – 2,500 | 33 |
| 2,501 – 3,500 | 53 |
| 3,501 – 5,000 | 57 |
| 5,001 – 7,500 | 78 |
| 7,501 – 10,000 | 90 |
| 10,001 – 15,000 | 100 |
| 15,001 – 20,000 | 105 |
| 20,001 – 35,000 | 108 |
| 35,001 – 50,000 | 108 |
| 50,001 – 250,000 | 108 |
As shown, transferring small amounts, especially those below Kshs. 100, is free. This has made M-PESA an attractive platform for microtransactions.
2. Transfer to Other Registered Mobile Money Users
When transferring money to mobile money users registered on other networks, the charges are similar to those for transferring within M-PESA, as follows:
| Transaction Range (Kshs) | Transfer to Other Registered Mobile Money Users (Kshs) |
|---|---|
| 1 – 49 | Free |
| 50 – 100 | Free |
| 101 – 500 | 7 |
| 501 – 1,000 | 13 |
| 1,001 – 1,500 | 23 |
| 1,501 – 2,500 | 33 |
| 2,501 – 3,500 | 53 |
| 3,501 – 5,000 | 57 |
| 5,001 – 7,500 | 78 |
| 7,501 – 10,000 | 90 |
| 10,001 – 15,000 | 100 |
| 15,001 – 20,000 | 105 |
| 20,001 – 35,000 | 108 |
| 35,001 – 50,000 | 108 |
| 50,001 – 250,000 | 108 |
Transfers to other registered mobile money users incur the same charges as transfers within M-PESA, making it easy to send money across networks without significantly higher costs.
3. Withdrawal from M-PESA Agent
Withdrawing cash from an M-PESA agent comes with its own set of charges, and these charges vary based on the amount withdrawn. Here’s a detailed breakdown:
| Transaction Range (Kshs) | Withdrawal Charges from M-PESA Agent (Kshs) |
|---|---|
| 1 – 49 | N/A |
| 50 – 100 | 11 |
| 101 – 500 | 29 |
| 501 – 1,000 | 29 |
| 1,001 – 1,500 | 29 |
| 1,501 – 2,500 | 29 |
| 2,501 – 3,500 | 52 |
| 3,501 – 5,000 | 69 |
| 5,001 – 7,500 | 87 |
| 7,501 – 10,000 | 115 |
| 10,001 – 15,000 | 167 |
| 15,001 – 20,000 | 185 |
| 20,001 – 35,000 | 197 |
| 35,001 – 50,000 | 278 |
| 50,001 – 250,000 | 309 |
It’s important to note that the withdrawal charges increase as the amount withdrawn increases. For smaller amounts, the charges are quite minimal, but for larger amounts, especially those above Kshs. 50,000, the withdrawal fee becomes significant. Customers are advised to keep this in mind when withdrawing large sums of money.
ATM Withdrawal Tariffs
M-PESA users also have the option of withdrawing funds from ATMs, with tariffs depending on the amount withdrawn:
| Transaction Range (Kshs) | ATM Withdrawal Charges (Kshs) |
|---|---|
| 200 – 2,500 | 35 |
| 2,501 – 5,000 | 69 |
| 5,001 – 10,000 | 115 |
| 10,001 – 35,000 | 203 |
ATM withdrawals provide convenience for users who prefer using ATMs to agents. However, these transactions incur charges that increase with the amount withdrawn.
Other M-PESA Services and Charges
Apart from sending and withdrawing money, M-PESA offers several other services that come with specific charges:
- Deposits: All deposits into M-PESA are free, regardless of the amount deposited. This makes it easy for users to load money onto their M-PESA accounts without incurring any costs.
- M-PESA Registration: Registering for M-PESA is also free of charge, encouraging more users to join the platform.
- Buying Airtime: Customers can buy airtime through M-PESA free of charge, which adds to the convenience of the service.
- Balance Enquiry: Checking your M-PESA balance is also free, allowing users to manage their accounts without worrying about additional charges.
- Change of M-PESA PIN: Users can change their M-PESA PIN for free, which is a critical security feature that ensures the safety of their accounts.
Important Notes and Limits
M-PESA has set specific transaction and account limits to ensure security and compliance with financial regulations. These include:
- Maximum Account Balance: A user’s M-PESA account can hold a maximum of Kshs. 500,000 at any given time. If the balance exceeds this amount, the system will automatically prevent any further deposits until the balance is reduced.
- Maximum Daily Transaction Value: Users can transact up to Kshs. 500,000 in a day. This includes both sending and receiving money.
- Maximum Amount Per Transaction: The maximum amount that can be transacted in a single M-PESA transaction is Kshs. 250,000. This limit helps ensure that large transactions are appropriately managed and secured.
- Minimum Withdrawal Amount: The minimum amount that can be withdrawn at an M-PESA agent outlet is Kshs. 50. Withdrawals below this amount are not allowed.
M-PESA Self-Reversal and Other Procedures
M-PESA offers a self-reversal feature for customers who have mistakenly sent money to the wrong recipient. To initiate a self-reversal, users need to send the transaction confirmation SMS to the number 456. This feature has helped many customers recover their funds in the event of accidental transfers.
It is also important to note that customers cannot deposit money directly into another M-PESA customer’s account at an agent outlet. This means that all deposits must be made into the customer’s own account, from where they can send the money to the intended recipient.
Required Documentation for Registration, Deposits, and Withdrawals
When registering for M-PESA, depositing, or withdrawing funds, customers need to present valid documentation. For registration at agent outlets, only Kenyan National IDs and Passports are accepted. Foreign passports, Military IDs, and Foreigner Certificates can only be used at Safaricom shops and care desks. For deposits and withdrawals, the valid documents are Kenyan Passports, National IDs, Foreign Passports, Military IDs, and Foreigner Certificates.
Customer Support for M-PESA Users
Safaricom provides various channels for M-PESA customers to reach out for support, inquiries, or complaints. Customers can:
- Dial 100 for PrePay customer support.
- Dial 200 for PostPay customer support.
- Use the self-service option by dialing *234#.
- Send an email to: customercare@safaricom.co.ke.
- Reach out via social media: Facebook (@SafaricomPLC) and Twitter (@SafaricomPLC / @Safaricom_Care).
- Contact Safaricom’s chatbot Zuri on WhatsApp by sending a message to 0722 000100.
Conclusion
M-PESA has revolutionized financial transactions in Kenya and continues to be an essential part of the lives of millions of users. Understanding M-PESA charges allows customers to optimize their use of the service, ensuring they get the best value for money. Whether you’re sending money, withdrawing cash, or purchasing airtime, knowing the costs involved can help you make informed decisions.
