M-Pesa Transaction Charges in Kenya: A Comprehensive Guide to Fees and Limits for 2023
Looking to learn about the fees and limits for M-Pesa transactions in Kenya in 2023? This comprehensive guide covers everything you need to know, including charges for sending and withdrawing money, buying airtime, and more.
M-Pesa is a popular mobile banking and financial services platform in Kenya. It offers users a convenient way to send and receive money, pay bills, and access other financial services through their mobile phones. This guide provides a detailed overview of M-Pesa transaction charges in Kenya, including fees for sending and withdrawing money, buying airtime, and more. We'll also discuss the limits on M-Pesa transactions, so you can better understand how much you can send and receive using the platform.
What are the M-Pesa Transaction Charges in Kenya?
M-Pesa charges a fee for most transactions on its platform, including sending and withdrawing money, buying airtime, and more. The specific charges will depend on the type of transaction you're making and the amount of money involved. Here's a breakdown of the M-Pesa transaction charges in Kenya for some common types of transactions:
Sending Money To Mpesa Users
M-Pesa charges a fee for sending money to other users based on the amount you're sending. For example, the cost will be FREE if you're sending between KES 1 and KES 100. If you send between KES 101 and KES 500, the price will be KES 6. There are different fee tiers for higher amounts, and the complete list of fees can be found below
| Minimum Ksh | Maximum Ksh | M-PESA Transaction Charges |
| 1 | 49 | Free |
| 50 | 100 | Free |
| 101 | 500 | 6 |
| 501 | 1,000 | 12 |
| 1,001 | 1,500 | 22 |
| 1,501 | 2,500 | 32 |
| 2,501 | 3,500 | 51 |
| 3,501 | 5,000 | 55 |
| 5,001 | 7,500 | 75 |
| 7,501 | 10,000 | 87 |
| 10,001 | 15,000 | 97 |
| 15,001 | 20,000 | 102 |
| 20,001 | 35,000 | 105 |
| 35,001 | 50,000 | 105 |
| 50,001 | 150,000 | 105 |
Sending Money To Non- Mpesa Users
M-Pesa charges a fee for sending money to other users based on the amount you're sending. For example, the cost will be FREE if you're sending between KES 1 and KES 100. If you send between KES 101 and KES 500, the price will be KES 45. There are different fee tiers for higher amounts, and the complete list of fees can be found below
| Minimum Ksh | Maximum Ksh | M-PESATransaction Charges |
| 1 | 49 | N/A |
| 50 | 100 | N/A |
| 101 | 500 | 45 |
| 501 | 1,000 | 49 |
| 1,001 | 1,500 | 59 |
| 1,501 | 2,500 | 74 |
| 2,501 | 3,500 | 112 |
| 3,501 | 5,000 | 135 |
| 5,001 | 7,500 | 166 |
| 7,501 | 10,000 | 205 |
| 10,001 | 15,000 | 265 |
| 15,001 | 20,000 | 288 |
| 20,001 | 35,000 | 309 |
| 35,001 | 50,000 | N/A |
| 50,001 | 150,000 | N/A |
Withdrawing Money From M-Pesa
M-Pesa also charges a fee for withdrawing money from your account based on your starting amount. For example, if you're drawing between KES 1 and KES 100, the fee will be KES 10. If you draw between KES 101 and KES 500, the price will be KES 27. Again, there are different fee tiers for higher amounts, and the complete list of fees can be found below
| Minimum | Maximum | M-PesaTransaction Charges |
| 1 | 49 | N/A |
| 50 | 100 | 10 |
| 101 | 500 | 27 |
| 501 | 1,000 | 28 |
| 1,001 | 1,500 | 28 |
| 1,501 | 2,500 | 28 |
| 2,501 | 3,500 | 50 |
| 3,501 | 5,000 | 67 |
| 5,001 | 7,500 | 84 |
| 7,501 | 10,000 | 112 |
| 10,001 | 15,000 | 162 |
| 15,001 | 20,000 | 180 |
| 20,001 | 35,000 | 191 |
| 35,001 | 50,000 | 270 |
| 50,001 | 150,000 | 300 |
Mpesa ATM Withdrawal
For ATMs, Mpesa will charge the following
| Minimum Ksh | Maximum Ksh | M-PESA Charges |
| 200 | 2,500 | 34 |
| 2,501 | 5,000 | 67 |
| 5,001 | 10,000 | 112 |
| 10,001 | 20,000 | 197 |
What are the Limits on M-Pesa Transactions in Kenya?
If you plan on using M-Pesa in Kenya, it's essential to understand the limits and requirements for transactions on the platform.
One of the critical limits to be aware of is the maximum account balance, which is currently set at KSH 300,000. This means you can't have more than KSH 300,000 in your M-Pesa account at any time. The maximum daily transaction value is also KSH 300,000, so you can't send or receive more than this amount in a single day.
The maximum amount per transaction is KSH 150,000, so you can't send or receive more than this amount in a single transaction. However, you can withdraw a minimum amount at an M-Pesa agent, which is currently set at KSH 50.
If you need to initiate an M-Pesa person-to-person self-reversal, you can send the transaction confirmation to 456. This allows you to reverse a transaction if it was made in error or if you need to cancel it for any other reason.
Your Safaricom line, and M-Pesa account must be active to transact on M-Pesa. In addition, you can only deposit funds into an M-Pesa account registered under your identification documents (ID), such as a National ID or Kenyan Passport. Depositing directly into third-party accounts is not allowed.
You'll earn Bonga points based on the M-Pesa fee charged when you transact on M-Pesa. These points can be redeemed for various rewards, such as airtime, data bundles, etc.
Finally, if you want to transact at an M-Pesa agent outlet, you must produce your original identification document with which the account was registered. This is typically a National ID or Kenyan Passport. You can also use the M-Pesa cost calculator on the My Safaricom App or dial *334# to view applicable charges.
Are There Any Ways to Avoid M-Pesa Transaction Charges?
While M-Pesa charges fees for most transactions, there are a few ways you can avoid paying these fees in some cases. For example:
Some merchants and businesses will offer to cover the M-Pesa transaction fees for their customers to encourage the platform's use. This means you may be able to send or receive money without paying any fees in certain situations.
M-Pesa offers occasional promotions that allow users to send or receive money for free or at discounted rates. Watch for these promotions and take advantage of them when they're available.
You may be eligible for discounted transaction fees if you have an M-Pesa account with a higher balance. For example, if your account balance is over KES 25,000, you may be able to send money for a lower price.
Read Also; How To Buy Airtel Airtime From M-PESA For Free Without Any Transaction Charges
Conclusion
In summary, M-Pesa transaction charges in Kenya vary depending on the type of transaction you're making and the amount of money involved. These charges can add up over time, so it's essential to remember them when using the platform. However, there are ways to avoid or minimize these charges in some cases, such as taking advantage of promotions or having a higher balance in your M-Pesa account. By understanding the fees and limits on M-Pesa transactions in Kenya, you can make informed decisions about how to use the platform and manage your finances.
What's Your Reaction?
