You want to learn about Mpesa charges for this Year? M-Pesa continues to dominate as Kenya’s most popular mobile money service, playing an integral role in how we manage finances daily. With its convenience, reliability, and widespread usage, M-Pesa remains a trusted partner for millions of Kenyans, both in cities and rural areas.
However, with a new year comes changes, and the revised M-Pesa charges for 2024 have brought about a fresh discussion. Whether you are sending money, paying bills, or managing business transactions, understanding these new charges is essential for making informed financial decisions.
This blog will break down the updated M-Pesa rates and explore how they will impact different transactions in the coming year. # New Mpesa Charges 2024: New Mpesa Rates and Tariffs
M-Pesa Overview
M-Pesa is a revolutionary mobile payment platform that enables users to send and receive money directly through their mobile phones.
Launched in 2007 by Safaricom, Kenya’s leading telecommunications company, M-Pesa has grown to become one of the most widely used mobile payment systems worldwide, boasting over 30 million users in Kenya alone.
With M-Pesa, users can easily transfer money to anyone with a registered mobile number, pay for goods and services, and even withdraw cash from ATMs.
Beyond personal transactions, M-Pesa also serves as a vital tool for businesses, allowing them to disburse payments to employees and suppliers efficiently.
The immense success of M-Pesa in Kenya has sparked the creation of similar mobile payment systems in other countries, including Tanzania and Uganda, further cementing its impact on financial inclusion across the region.
Types of Mpesa Charges for Transactions
M-Pesa charges vary depending on the type of transaction, amount, and whether the transfer is within Safaricom’s network or to another service. # New Mpesa Charges # Mpesa Charges for Transaction
Below are the different types of M-Pesa charges:
1. Person-to-Person Transfers (P2P)
- Sending to M-Pesa users: Charges depend on the amount sent, and the higher the amount, the higher the fee.
- Sending to other mobile networks or bank accounts: Higher fees apply for sending to users outside M-Pesa or to banks.
2. Withdrawal Charges
- Withdrawing from M-Pesa agents: Fees vary based on the amount withdrawn, with higher charges for larger amounts.
- ATM withdrawals: Users can withdraw M-Pesa funds from select ATMs, but the charges are higher compared to agent withdrawals.
3. Pay Bill and Buy Goods Transactions
- Pay Bill: Some Pay Bill transactions, such as utility payments, attract charges based on the amount being transacted.
- Buy Goods and Services: Most purchases are free, but certain business accounts may impose additional charges on customers.
4. Bank Transfers
- Sending money from M-Pesa to bank accounts: Charges depend on the amount being transferred and the bank being used.
- Withdrawing from bank accounts to M-Pesa: Typically lower than other forms of transactions, but fees vary by bank.
5. Airtime Purchase
- Buying airtime for yourself: Usually free of charge.
- Buying airtime for others: May incur a small fee depending on the amount purchased.
6. International Money Transfers
- Charges apply for sending and receiving money internationally through M-Pesa’s partnership with global remittance services.
7. Loan Repayments and Savings
- Services like M-Shwari and KCB M-Pesa also have associated charges, particularly for withdrawals or loan processing.
These fees can change based on Safaricom’s policies, inflation, and government regulations, so it’s essential to stay updated with the current rates. # Mpesa Charges for Transaction
Detailed Breakdown of New Mpesa Charges 2024
The new M-Pesa charges for this Year have been adjusted to reflect evolving transaction trends and regulatory changes. Below is a detailed breakdown of the charges, categorized by transaction type, accompanied by tables for easy reference.
>> Person-to-Person Transfers (P2P)
| Amount Sent (KSh) | Charges to M-Pesa Users (KSh) | Charges to Other Networks/Bank (KSh) |
| 1 – 100 | Free | 10 |
| 101 – 500 | 6 | 15 |
| 501 – 1,000 | 12 | 20 |
| 1,001 – 1,500 | 22 | 35 |
| 1,501 – 2,500 | 32 | 45 |
| 2,501 – 3,500 | 51 | 55 |
| 3,501 – 5,000 | 55 | 75 |
| 5,001 – 7,500 | 75 | 105 |
| 7,501 – 10,000 | 87 | 120 |
| 10,001 – 15,000 | 97 | 150 |
| 15,001 – 20,000 | 102 | 170 |
| 20,001 – 35,000 | 105 | 200 |
| 35,001 – 50,000 | 105 | 205 |
>> Withdrawal Charges from M-Pesa Agents
| Amount Withdrawn (KSh) | Withdrawal Charges (KSh) |
| 1 – 100 | Free |
| 101 – 500 | 27 |
| 501 – 1,000 | 28 |
| 1,001 – 1,500 | 30 |
| 1,501 – 2,500 | 32 |
| 2,501 – 3,500 | 51 |
| 3,501 – 5,000 | 61 |
| 5,001 – 7,500 | 77 |
| 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 |
>> Pay Bill Charges
These charges are applicable for paying utility bills, government services, and other registered merchants.
| Amount Paid (KSh) | Charges (KSh) |
| 1 – 100 | Free |
| 101 – 500 | 23 |
| 501 – 1,000 | 27 |
| 1,001 – 1,500 | 33 |
| 1,501 – 2,500 | 43 |
| 2,501 – 3,500 | 57 |
| 3,501 – 5,000 | 68 |
| 5,001 – 7,500 | 95 |
| 7,501 – 10,000 | 105 |
| 10,001 – 15,000 | 115 |
| 15,001 – 20,000 | 120 |
| 20,001 – 30,000 | 125 |
| 30,001 – 50,000 | 130 |
>> ATM Withdrawal Charges
| Amount Withdrawn (KSh) | ATM Charges (KSh) |
| 200 – 2,500 | 34 |
| 2,501 – 5,000 | 67 |
| 5,001 – 10,000 | 112 |
| 10,001 – 20,000 | 197 |
>> M-Pesa to Bank Transfers
| Amount Transferred (KSh) | Charges to Banks (KSh) |
| 50 – 500 | 20 |
| 501 – 1,000 | 30 |
| 1,001 – 5,000 | 50 |
| 5,001 – 10,000 | 60 |
| 10,001 – 20,000 | 75 |
| 20,001 – 50,000 | 100 |
What are the charges for Lipa Na M-Pesa?
Here are the updated charges for Lipa Na M-Pesa in 2024: # charges for Lipa Na M-Pesa
Customer Charges
- Payments of KSh 200 and below: Free
- Payments above KSh 200: Free, except at fuel stations.
Merchant Charges
Paybill Charges
- 101 – 1,000 KSh: 5 KSh
- 1,001 – 2,500 KSh: 23 KSh
- 2,501 – 5,000 KSh: 33 KSh
- 5,001 – 10,000 KSh: 53 KSh
- 10,001 – 20,000 KSh: 83 KSh
- 20,001 – 50,000 KSh: 100 KSh
- 50,001 – 250,000 KSh: 108 KSh.
These charges are designed to promote the use of digital payments while ensuring affordability for both customers and businesses. Read About how to Withdraw Money from Equitel to MPESA? # charges for Lipa Na M-Pesa
Conclusion
M-Pesa’s new charges for 2024 may affect how Kenyans handle their financial transactions, but the system’s flexibility and vast network ensure it remains indispensable.
While the updated rates may require some adjustments in how we plan our transactions, M-Pesa still stands as the go-to service for safe, fast, and reliable mobile money transfers.
As we adapt to these changes, staying informed will empower us to make smarter financial choices, ensuring that M-Pesa continues to serve as a vital tool in Kenya’s financial ecosystem.
