M-Pesa has revolutionized how people in Kenya and other parts of the world transfer money, pay bills and conduct transactions. However, many users still struggle with understanding the MPesa charges, which can vary depending on the amount you’re transferring, withdrawing, or paying. In this guide, we’ll cover everything you need to know about MPesa charges for 2024, helping you make informed financial decisions and avoid any unexpected costs.
Key M-Pesa Charges in 2024
M-Pesa charges are the fees you pay when using the M-Pesa mobile money service. These charges depend on various factors like the type of transaction, the amount involved, and whether you are sending money to another M-Pesa user, a bank, or withdrawing funds.
Safaricom is expected to maintain the same transparent and user-friendly fee structure that ensures its services remain accessible to all its users. Let’s take a deeper look at the different categories of M-Pesa charges.
To make it easy, we have created a table of contents to help you easily navigate through different types of MPesa Charges:
Sending Money via MPesa Charges in 2024
Sending money using M-Pesa involves different rates depending on whether the recipient is a registered or unregistered user. Below is a breakdown:
Sending to Registered M-Pesa Users
| Amount (Ksh) | Sending Fee (Ksh) |
|---|---|
| 1 – 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 |
Sending to Unregistered Users
| Amount (Ksh) | Sending Fee (Ksh) |
|---|---|
| 1 – 100 | Not Allowed |
| 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 | 245 |
| 15,001 – 20,000 | 275 |
| 20,001 – 35,000 | 308 |
| 35,001 – 50,000 | 350 |
M-Pesa Withdrawal Charges 2024
Withdrawal charges vary depending on how much money you are withdrawing and where you are withdrawing it from (an M-Pesa agent or an ATM). The higher the amount, the higher the fee.
Below is a table showing the updated M-Pesa withdrawal charges from M-Pesa Agents and ATMs for 2024:
| Amount (Ksh) | Withdrawal from Agent (Ksh) | ATM Withdrawal (Ksh) |
|---|---|---|
| 1 – 100 | Free | Not Available |
| 101 – 500 | 27 | 34 |
| 501 – 1,000 | 28 | 34 |
| 1,001 – 1,500 | 28 | 34 |
| 1,501 – 2,500 | 28 | 34 |
| 2,501 – 3,500 | 50 | 67 |
| 3,501 – 5,000 | 67 | 84 |
| 5,001 – 7,500 | 84 | 112 |
| 7,501 – 10,000 | 112 | 162 |
| 10,001 – 15,000 | 162 | 180 |
| 15,001 – 20,000 | 180 | 240 |
| 20,001 – 35,000 | 190 | 270 |
| 35,001 – 50,000 | 190 | 270 |
Pay Bill and Buy Goods Charges 2024
While M-Pesa charges a fee for many types of transactions, there are some instances where you won’t be charged for using the Pay Bill and Buy Goods options. For example:
Pay Bill Charges:
Pay Bill fees often depend on the specific service provider. Some businesses absorb the M-Pesa charges, while others pass the cost to their customers.
- Utilities (e.g., KPLC): Charges are typically absorbed by the provider.
- Loan Payments: Fees can vary by lender and are often included in the overall payment amount.
- School Fees: Usually free, but some institutions may include a nominal fee.
Here is a general breakdown:
| Amount (Ksh) | Pay Bill Charges (Ksh) |
|---|---|
| 1 – 100 | Free |
| 101 – 500 | 15 |
| 501 – 1,000 | 22 |
| 1,001 – 2,500 | 33 |
| 2,501 – 5,000 | 55 |
| 5,001 – 10,000 | 87 |
| 10,001 – 20,000 | 112 |
| 20,001 – 50,000 | 160 |
Buy Goods (Lipa na M-Pesa) Charges:
M-Pesa’s “Buy Goods” service is usually free for the customer when purchasing items or services at stores, restaurants, or supermarkets. Merchants might pay a small fee to receive the money, but this is not passed on to the customer.
| Transaction Amount (Ksh) | Merchant Charges (Ksh) |
|---|---|
| 1 – 100 | Free |
| 101 – 500 | Free |
| 501 – 1,000 | Free |
| 1,001 – 5,000 | 0.5% |
| 5,001 – 10,000 | 0.5% |
| 10,001 – 50,000 | 0.5% |
Customers generally do not incur any charges when using Buy Goods, making it a convenient payment method.
International Money Transfer Charges
M-Pesa also allows you to send and receive money from outside Kenya. The charges for international money transfers vary depending on the destination and the amount being transferred. For instance, sending money to East African countries like Uganda and Tanzania incurs a different fee compared to sending money to countries outside Africa.
Below are the charges for sending money to East African countries and outside Africa.
Sending Money to East African Countries (e.g., Uganda, Tanzania):
| Amount (Ksh) | Transfer Fee (Ksh) |
|---|---|
| 1 – 500 | 45 |
| 501 – 1,000 | 60 |
| 1,001 – 2,500 | 100 |
| 2,501 – 5,000 | 175 |
| 5,001 – 7,500 | 210 |
| 7,501 – 10,000 | 300 |
| 10,001 – 15,000 | 350 |
| 15,001 – 20,000 | 400 |
| 20,001 – 35,000 | 550 |
| 35,001 – 50,000 | 750 |
Sending Money Outside Africa:
| Amount (Ksh) | Transfer Fee (Ksh) |
|---|---|
| 1 – 1,000 | 100 |
| 1,001 – 2,500 | 200 |
| 2,501 – 5,000 | 300 |
| 5,001 – 7,500 | 450 |
| 7,501 – 10,000 | 600 |
| 10,001 – 20,000 | 800 |
| 20,001 – 35,000 | 1,200 |
| 35,001 – 50,000 | 1,500 |
How to Minimize M-Pesa Charges
- Send Larger Amounts Less Frequently: If you make several small transfers, the charges can add up. Consider consolidating your payments into one larger transfer.
- Use the Pay Bill Option Wisely: Sometimes, companies offer reduced charges or no charges for paying bills through M-Pesa.
- Keep Track of the Transaction Limits: Understanding the maximum and minimum limits can help you avoid extra charges.
- Consider Alternatives for Large Transfers: If you need to transfer a large sum, it might be worth looking into alternatives like bank transfers to save on fees.
Conclusion
M-Pesa remains an essential service for millions of people, and knowing the charges helps you manage your finances better. Whether you’re sending money to a loved one, paying bills, or withdrawing cash, understanding M-Pesa’s fees is crucial in 2024. Keep this guide handy to ensure you always know what to expect in terms of costs when using M-Pesa.
Remember, staying updated with the latest MPesa charges is important as Safaricom may revise the fees depending on regulations and market demands. Keep checking for updates to ensure you’re getting the most value from the service.