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    Safaricom INCREASES (YES!!) M-Pesa Transfer Rates by 67 Per Cent

    CyrusBy Updated:No Comments3 Mins Read

    Safaricom announced through its online handles that it was reducing the m-pesa transfer rates by 67%. That seems not to be the truth as it seems that Safaricom just did the opposite. The dominant operator has increased most of the rates (from Ksh 2500 transactions upwards) by a minimum of 67%.

    While it it now cheaper to transfer cash below Ksh 1,500, it is becoming expensive to send any amount above Ksh 1,500.

    Old rates

    Customer Charges
    Transaction Range (Ksh) Transaction Type and Customer Charge (Ksh)
    Min Max Transfer to other
    M-PESA Users    		 Transfer to Unregistered Users Withdrawal from
    M-PESA Agent
    10 49 3 N/A N/A
    50 100 5 N/A 10
    101 500 27 66 27
    501 1,000 33 66 27
    1,001 1,500 33 66 27
    1,501 2,500 33 66 27
    2,501 3,500 33 88 49
    3,501 5,000 33 105 66
    5,001 7,500 55 143 82
    7,501 10,000 55 171 110
    10,001 15,000 55 220 159
    15,001 20,000 55 237 176
    20,001 25,000 82 275 187
    25,001 30,000 82 275 187
    30,001 35,000 82 275 187
    35,001 40,000 82 N/A 275
    40,001 45,000 82 N/A 275
    45,001 50,000 110 N/A 275
    50,001 70,000 110 N/A 330
    ATM Withdrawal
    Transaction Range (Ksh)
    Min Max Customer Charge
    200 2,500 33
    2,501 5,000 66
    5001 10,000 110
    10,001 20,000 193

    New Rates

    Customer Charges
    Transaction Range (Ksh) Transaction Type and Customer Charge (Ksh)
    Min Max Transfer to other
    M-PESA Users    		 Transfer to Unregistered Users Withdrawal from
    M-PESA Agent
    10 49 1 N/A N/A
    50 100 3 N/A 10
    101 500 11 66 27
    501 1,000 15 66 27
    1,001 1,500 25 66 27
    1,501 2,500 40 66 27
    2,501 3,500 55 88 49
    3,501 5,000 60 105 66
    5,001 7,500 75 143 82
    7,501 10,000 85 171 110
    10,001 15,000 95 220 159
    15,001 20,000 100 237 176
    20,001 25,000 110 275 187
    25,001 30,000 110 275 187
    30,001 35,000 110 275 187
    35,001 40,000 110 N/A 275
    40,001 45,000 110 N/A 275
    45,001 50,000 110 N/A 275
    50,001 70,000 110 N/A 330
    ATM Withdrawal
    Transaction Range (Ksh)
    Min Max Customer Charge
    200 2,500 33
    2,501 5,000 66
    5001 10,000 110
    10,001 20,000 193

    The changes only affect person to person transfer and not ATM withdrawals, transfer to unregistered users and agent withdrawals. It is interesting how Safaricom sells REDUCTION of rates story while in actual sense, it is increasing the rates considering that most users now transact above Ksh 1,500 on average.

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    Respected Kenyan blogger, tech evangelist, and social justice activist. Cyrus is known for his hard-hitting articles and opinions disseminated through his Twitter handle @Kahawatungu or Facebook page (www.fb.com/Kahawatungu). Email: Editor@Kahawatungu.com

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