M-Pesa has changed how people in Kenya and other parts of the world transfer funds, pay bills, and conduct transactions. However, many users still struggle to understand the MPesa charges, which can vary depending on the amount transferred, withdrawn, or paid.
In this guide, we’ll cover everything you need to know about MPesa charges for 2024, helping you make informed financial decisions and ensuring you are prepared to avoid any unexpected costs.
Key M-Pesa Charges in 2024
M-Pesa charges are your fees when using the M-Pesa mobile money service. These charges depend on factors like the type of transaction (e.g., sending money, paying bills, or withdrawing funds), the amount involved, and whether you are sending money to another M-Pesa user, a bank, or withdrawing funds. Understanding these factors will help you know the costs of your transactions.
Safaricom is expected to maintain the same transparent and user-friendly fee structure.
This means that the charges are clearly communicated and made fairly and accessible to all users. Let’s take a deeper look at the different categories of M-Pesa charges.
We have created a table of contents to help you easily go 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: The charges can add up if you make several small transfers. Consider consolidating your payments into one considerable amount when transferring.
- Keep Track of Transaction Limits: Being conversant with the maximum and minimum limits can help you avoid extra charges.
- Use the Pay Bill Option Wisely: Sometimes, companies offer reduced or no charges for paying bills through M-Pesa.
- Look for Alternatives when transferring Large Amounts: If you need to transfer large sums of amount, it might be worth looking into alternatives like bank transfers to save on fees.
Conclusion
M-Pesa provides services 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 regarding costs when using M-Pesa and feel reassured and prepared for your transactions.
Stay updated with the latest M-Pesa charges, as Safaricom may revise the fees depending on regulations and market demands. Regularly checking for updates will ensure you get the most value from the service.
The Editorial Staff at Chweya is a team of financial experts with over 9 years of experience in Investing, Finance, Markets, Banking, and the Economy. Started in 2015, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.
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