New M-Pesa transaction charges 2024 Plus FAQS

As of today, February 20, 2024, there haven’t been any major changes to M-Pesa transaction charges compared to the beginning of the year. Here’s a summary of the current charges:

Sending Money:

• Free: For amounts between Ksh 1 and Ksh 49.
• Variable fees: Based on the amount sent, ranging from Ksh 6 for Ksh 50-100 to Ksh 78 for Ksh 250,001-350,000.
• Maximum transaction: Ksh 250,000 per transaction.

Withdrawing Money:

• Agent withdrawals:
  • Ksh 22 for withdrawals up to Ksh 1,000.
  • Ksh 44 for withdrawals between Ksh 1,001 and Ksh 5,000.
  • Variable fees for higher amounts, reaching Ksh 343 for Ksh 250,000.
• ATM withdrawals:
  • Ksh 45 for all amounts.

Other Services:

• Buying airtime: Varies depending on the amount purchased.
• Paying bills: Varies depending on the biller.
• Pochi La Biashara & Business Till to Customers: Variable fees based on the amount sent.

It’s important to note that these are just the main categories of charges. For a complete and up-to-date list of all M-Pesa charges, you can refer to the following resources:

• Safaricom website: https://www.dignited.com/74281/m-pesa-charges-2023/
• Safaricom M-Pesa Rate Calculator: https://www.safaricom.co.ke/personal/m-pesa/mpesa-charges

If you have a specific transaction in mind, you can use the calculator to get an exact estimate of the fees you’ll be charged.

What is the maximum amount M-PESA can hold?

The maximum amount an M-PESA wallet can hold is Ksh 500,000 (approximately $3,480 USD as of today, February 20, 2024). This increase went into effect on August 15, 2023, following approval from the Central Bank of Kenya.

It’s important to note that while the wallet limit is Ksh 500,000, there are also individual transaction limits:

• Maximum transaction per transfer: Ksh 250,000
• Maximum daily transaction value: Ksh 500,000

You can find more information about M-PESA limits and charges on the Safaricom website

How much does it cost to withdraw 10000 from M-PESA?

Withdrawing Ksh 10,000 from M-PESA in February 2024 will cost you Ksh 66. This fee applies if you’re using an M-PESA agent for the withdrawal.

Here’s a breakdown of the current M-PESA withdrawal fees for agent withdrawals:

• Up to Ksh 1,000: Ksh 22
• Ksh 1,001 – Ksh 5,000: Ksh 44
• Ksh 5,001 – Ksh 10,000: Ksh 66 (applies to your Ksh 10,000 withdrawal)
• Ksh 10,001 – Ksh 20,000: Ksh 88
• Ksh 20,001 – Ksh 50,000: Ksh 110
• Higher amounts have progressively higher fees

Remember, these fees apply specifically to agent withdrawals. If you’re withdrawing from an ATM, the fee is a flat Ksh 45 regardless of the amount withdrawn.

How much does it cost to withdraw 20000 from M-PESA?

Withdrawing Ksh 20,000 from M-PESA in February 2024 incurs a fee depending on your chosen method:

M-PESA Agent:

• The fee for withdrawing Ksh 20,000 through an M-PESA agent is Ksh 88. This falls within the tier for withdrawals between Ksh 10,001 and Ksh 20,000.

ATM:

• Withdrawing any amount from an ATM using your M-PESA card has a flat fee of Ksh 45, regardless of the withdrawal amount.

Therefore, withdrawing Ksh 20,000 from an ATM would be cheaper at Ksh 45 compared to the Ksh 88 fee charged by an agent.

How do I avoid M-PESA charges?

While completely avoiding M-PESA charges might not always be possible, here are some strategies to minimize them:

Transaction Type:

• Send money for free: For amounts between Ksh 1 and Ksh 49, sending money within M-PESA is free. Take advantage of this for small transactions.
• Withdraw for free: Consider alternatives to cash withdrawals. Paying directly with M-PESA at shops and merchants often avoids agent fees. You can also send money to yourself by depositing to your bank account, usually with lower fees than agent withdrawals.
• Pay bills directly: Paying bills directly through M-PESA often incurs lower fees than using an agent. Check the charges specific to each biller.

Transaction Amounts:

• Plan transactions: Club smaller transactions together to benefit from lower fees per amount tier. For example, instead of sending Ksh 50 three times, send Ksh 150 once.
• Utilize free limits: Take advantage of M-PESA’s free daily sending limit of Ksh 1,000 for sending money to registered Safaricom customers.

Transaction Methods:

• Use ATMs instead of agents: When withdrawing, consider using an ATM if the flat Ksh 45 fee is lower than the agent fee based on your withdrawal amount.
• Choose registered outlets: When using agents, prefer registered M-PESA outlets like Safaricom shops or supermarkets to avoid potential hidden charges.

Additional Tips:

• Stay informed: Regularly check Safaricom’s website or M-PESA app for updated fee structures and potential free services or promotions.
• Consider alternatives: For certain transactions, explore alternative money transfer services that might offer lower fees or more convenient options.

Remember, the best approach depends on your specific needs and transaction details. It’s always helpful to compare fees and weigh your options before proceeding.

How much is it to send 70000 via M-PESA?

The fee to send Ksh 70,000 via M-PESA in February 2024 is Ksh 77. This falls within the tier for sending amounts between Ksh 50,001 and Ksh 100,000.

Here’s a breakdown of the M-PESA sending charges for reference:

• Free: Ksh 1 – Ksh 49
• Ksh 6: Ksh 50 – Ksh 100
• Ksh 11: Ksh 101 – Ksh 500
• Ksh 16: Ksh 501 – Ksh 1,000
• …
• Ksh 77: Ksh 50,001 – Ksh 100,000

It’s important to remember that these charges are subject to change, so it’s always a good idea to double-check the latest fees before making a transaction. You can find the most up-to-date information on the Safaricom website or M-PESA app.

How much does it cost to withdraw 4000 from M-PESA?

Withdrawing Ksh 4,000 from M-PESA in February 2024 will incur a fee depending on your chosen method:

M-PESA Agent:

• The fee for withdrawing Ksh 4,000 through an M-PESA agent falls within the tier for withdrawals between Ksh 1,001 and Ksh 5,000. The current fee for this tier is Ksh 44.

ATM:

• Withdrawing any amount from an ATM using your M-PESA card has a flat fee of Ksh 45, regardless of the withdrawal amount.

Therefore, withdrawing Ksh 4,000 from an ATM would be slightly more expensive at Ksh 45 compared to the Ksh 44 fee charged by an agent. However, the difference is minimal.

Here are some additional tips:

• Consider sending money to yourself: Instead of withdrawing cash, you could send the Ksh 4,000 to your bank account linked to M-PESA. Bank transfers often have lower fees than agent withdrawals.
• Check for promotions: Safaricom occasionally offers promotions with reduced fees or free transactions. Keep an eye on their website or app for updates.
• Compare fees for different amounts: If you’re flexible with the withdrawal amount, compare the fees for slightly lower or higher amounts to see if you can find a more cost-effective option.

Remember, fees can change, so it’s always a good idea to check the latest information before making a transaction. You can find the most up-to-date information on the Safaricom website or M-PESA app.

What are the risks of M-PESA?

M-PESA, while highly successful and beneficial for many, does come with some inherent risks to consider. Here are some of the key ones:

Fraud and Theft:

• SIM Swap Fraud: Hackers can gain access to your phone number and potentially your M-PESA account through SIM swap scams. Be cautious of suspicious calls or messages requesting personal information.
• Phishing: Fraudulent messages or websites mimicking M-PESA can trick you into sharing sensitive information or initiating unauthorized transactions. Stay vigilant and only use official M-PESA channels.
• Agent Fraud: Dishonest agents might manipulate transactions or withhold funds. Choose registered and reputable M-PESA outlets.

Security Vulnerabilities:

• System Outages: Technical issues or cyberattacks can temporarily disrupt M-PESA services, potentially impacting access to funds.
• Data Breaches: Leaks of personal or financial information stored by M-PESA could occur, leading to identity theft or misuse. Safaricom implements security measures, but be mindful of data privacy.

Financial Risks:

• Overspending: The convenience of M-PESA can lead to impulsive spending and budgeting challenges. Track your transactions and set spending limits.
• Investment and Scams: Fraudulent investment schemes using M-PESA can lure users with unrealistic promises, resulting in financial losses. Be wary of unsolicited investment offers.

Social Risks:

• Financial Exclusion: Not everyone has access to smartphones or digital literacy, potentially widening the financial gap. Initiatives are underway to address this.
• Increased Reliance on Technology: Dependence on M-PESA can make individuals vulnerable if technology fails or becomes inaccessible. Consider alternative payment methods as backups.

Recommendations:

• Stay informed: Regularly check Safaricom’s website for updates on security measures and potential threats.
• Be cautious: Verify information before sharing personal details or initiating transactions.
• Use strong passwords: Set complex and unique passwords for your M-PESA account and phone.
• Report suspicious activity: If you suspect fraud or encounter issues, report them immediately to Safaricom.
• Practice responsible usage: Manage your finances wisely and avoid impulsive spending or risky investments.

By being aware of these risks and taking precautions, you can maximize the benefits of M-PESA while minimizing potential harm.

Does M-PESA allow international transactions?

Yes, M-PESA does allow international transactions, but in specific ways:

M-PESA Global:

• This service lets you send and receive money globally.
• Sending:
  • You can send money to individuals’ mobile numbers in different countries.
  • You can send to millions of bank accounts and over 500,000 Western Union locations globally.
  • Requires opting in to the service.
• Receiving:
  • You can receive funds from abroad directly to your M-PESA account.
  • No need to have a bank account to receive.

Limitations:

• Not all countries are supported for sending and receiving.
• Transaction limits apply (e.g., Ksh 101 minimum to send globally).
• Fees for sending and receiving will be incurred.

Other International Options:

• M-PESA to PayPal: Access funds quickly and shop around the world with PayPal mobile money service with M-PESA.
• Partnering services: M-PESA has partnerships with other remittance services that facilitate international transfers (e.g., MoneyGram, WorldRemit).

Resources:

• M-PESA International Money Transfer: https://www.safaricom.co.ke/media-center-landing/frequently-asked-questions/international-money-transfer

Important: Fees and available options may change, so it’s always best to check the latest information from Safaricom or your chosen service provider before initiating any international transaction.

Can I use M-PESA outside Kenya?

You cannot directly “use” M-PESA outside of Kenya in the same way you would within the country. However, you can access your M-PESA funds and make various international transactions through specific services offered by Safaricom and its partners. Here’s a breakdown:

Within M-PESA Global:

• Sending Money:
  • Supported Countries: Send money to mobile wallets in East Africa (Rwanda, Tanzania, Uganda) and specific bank accounts or Western Union locations globally.
  • Limitations: Not all countries are supported, and individual transaction limits apply.
• Receiving Money:
  • Receive funds directly to your M-PESA account from supported countries abroad.

Additional International Options:

• M-PESA to PayPal: Transfer funds from M-PESA to your PayPal account for global online shopping.
• Partnering Services: Use partnered remittance services like MoneyGram and WorldRemit for wider international transfers.

Important Points:

• Fees: Be aware of transaction fees associated with each service, as they can vary depending on the method and destination.
• Requirements: You might need to activate specific services like M-PESA Global before using them.
• Updates: Check the latest information from Safaricom for updated supported countries, limitations, and any service changes.

Remember, while you can’t directly use M-PESA’s full functionality outside Kenya, these alternative services allow you to access your funds and make international transactions when needed.

How do I check my M-PESA charges?

Unfortunately, there isn’t a single, direct way to check your past M-PESA charges within the M-PESA app or platform. However, there are several methods you can use to access details about your charges:

1. Review Transaction History:

• Access your M-PESA statement:
  • Safaricom App: Go to “Menu” > “M-PESA” > “My Account” > “Statements” > Select desired statement period.
  • Safaricom Website: Log in to your account, navigate to “M-PESA” > “Statements” > Choose the desired period.
• Each transaction listing includes the amount sent/received and a description that typically mentions the type of transaction (e.g., “Send Money,” “Withdrawal”). While it doesn’t explicitly state the fee, you can infer it based on the transaction type and amount (refer to M-PESA charge tables).

2. Utilize Charge Calculators:

• Safaricom M-PESA Rate Calculator: https://www.safaricom.co.ke/personal/m-pesa/mpesa-charges
• Enter the transaction details (amount, type) and see the estimated charge.
• While this doesn’t directly show your past charges, it helps you understand and estimate fees for similar transactions you made.

3. Contact Safaricom Customer Care:

• Call Safaricom Customer Care at 100 or +254 722 002 000.
• They can access your transaction history and provide details about specific charges and fees incurred.

4. Review SMS Notifications:

• Each M-PESA transaction triggers an SMS notification containing the transaction details and sometimes a brief cost indication.
• While not as detailed as a statement, these messages can serve as a quick reference for recent transactions and their associated costs.

Remember, M-PESA charges can change occasionally, so checking the latest fee information on the Safaricom website or app is always recommended before making a transaction.

Can you reverse M-PESA after 24 hours?

Unfortunately, reversing an M-PESA transaction after 24 hours is usually not possible. The ability to reverse a transaction typically expires within 24 hours after it’s completed. Once that window closes, the funds are considered finalized and credited to the recipient’s account.

Here are some exceptions:

• Self-Reversal for Sending Money: If you sent money to the wrong number within the M-PESA app, you might be able to initiate a self-reversal immediately as long as the recipient hasn’t withdrawn or transferred the funds further. This feature is not available for sending money through other methods like USSD or agents.
• Safaricom Intervention: In very rare cases, and at Safaricom’s discretion, they might consider reversing a transaction even after 24 hours under specific circumstances like proven fraud or technical errors. You would need to provide strong evidence and contact Safaricom directly for such inquiries.

Here’s what you can do if you sent money to the wrong number after 24 hours:

• Contact the recipient: Try reaching out to the recipient and explain the situation. They might be willing to return the money, but this depends entirely on their cooperation.
• Report the incident to Safaricom: Even if reversing the transaction isn’t possible, report the incident to Safaricom for their records and potential assistance in future similar situations. You can do this through their customer care line (100 or +254 722 002 000) or their online channels.

To avoid such situations in the future:

• Double-check recipient details: Be extremely careful when entering the recipient’s phone number before sending money.
• Utilize confirmation features: If available, use confirmation prompts or features within the M-PESA app that ask you to verify the recipient’s information before finalizing the transaction.
• Consider smaller test transactions: For large amounts or unfamiliar recipients, send a small test amount first to confirm the number is correct before sending the full amount.

Remember, being cautious and verifying recipient details is crucial to avoid the inconvenience and potential loss associated with mistaken M-PESA transactions.

Is there M-PESA in Nigeria?

No, there is no M-PESA as you know it in Nigeria. While M-PESA is a highly successful mobile money service operating in East Africa, particularly Kenya, it doesn’t currently operate in Nigeria.

However, Nigeria has its own robust mobile money ecosystem with numerous alternative mobile wallets and platforms you can utilize. Some popular options include:

• MTN Mobile Money: Operated by MTN Nigeria, a leading mobile network operator.
• Airtel Money: Offered by Airtel Nigeria, another major network provider.
• Glo Mobile Money: Provided by Globacom, another prominent mobile network.
• UBA Flexx: A mobile wallet service by United Bank for Africa (UBA), a major Nigerian bank.
• Interswitch Verve: A payment network offering mobile wallets under several partner banks and fintech companies.

These platforms offer functionalities similar to M-PESA, including sending and receiving money, paying bills, buying airtime, and conducting other financial transactions.

While they might not be the exact same as M-PESA, these alternatives cater to the need for mobile financial services in Nigeria. You can consider exploring these options based on your specific needs and preferences.

Can I receive money from USA through M-PESA?

No, you cannot directly receive money from the USA through M-PESA, as M-PESA itself doesn’t operate in the United States. However, there are several alternative ways to receive money from the USA to your M-PESA account:

1. Partner Services:

• Safaricom M-PESA Global: This Safaricom service allows you to receive money from several international partners like MoneyGram, WorldRemit, Xoom, Skrill, Western Union, Ria Money Transfer and others. They have partnerships with US-based institutions, so you can initiate a transfer from the USA through these partner services and have it deposited into your M-PESA account.
• M-PESA to PayPal: If the sender in the USA uses PayPal, you can link your M-PESA account to PayPal and receive money directly into your M-PESA wallet.

2. Mobile Wallet Platforms:

• Other international mobile wallets: While not directly M-PESA, some US-based mobile wallets like Zelle or Cash App might allow transfers to Kenyan mobile wallets like M-PESA through partnerships with local money transfer services. Check the specific options and fees associated with these platforms.

3. Bank Transfers:

• International bank transfers: If the sender has access to international bank transfers, they can send money directly to your Kenyan bank account linked to your M-PESA. Once the funds arrive in your bank account, you can then transfer them to your M-PESA wallet.

Important Points:

• Fees: Each service or method likely has associated fees for international transfers. Compare and choose the option with the most favorable rates for your situation.
• Limits: There might be transaction limits depending on the chosen method and sender’s platform.
• Verification and Registration: You might need to register or set up specific services before receiving money through these methods.

Remember, exploring all your options and comparing fees and limitations is crucial for choosing the most efficient and cost-effective way to receive money from the USA to your M-PESA account.

Can I use M-Pesa app without SIM card?

Yes, you can use the M-PESA app without a SIM card, as long as you have previously registered your phone and set up PIN access within the app. This feature became available in April 2021 and offers flexibility to users who might have a phone without an active SIM or want to access transactions even if their SIM is temporarily unavailable.

Here’s what you need to know:

• Initial Registration: You must have registered your phone number with the M-PESA app and created a PIN before you can use it without a SIM card. This initial registration requires an active SIM card.
• Offline Mode: Once registered, you can access the app even without a Wi-Fi connection through the app’s “Offline Mode.” However, using features like sending money or buying airtime in offline mode requires a previous transaction with data connection for offline processing.
• Limited Functionality: Without a SIM card and data connection, some features are unavailable. You can still access your balance, transaction history, statement, and Lipa Na M-PESA QR code payments.
• Data Required for Updates: While usable without a data connection, it’s recommended to connect periodically to update the app and access the latest features, charges, and information.

Overall, the M-PESA app allows users with registered phones and PINs to enjoy limited functionality even without a SIM card, offering convenience and accessibility. Remember to register your phone with the app first and connect occasionally for updates and full functionality.

Can you send dollars to mpesa?

Unfortunately, you cannot directly send dollars to M-PESA. M-PESA operates in Kenyan Shillings (KES) and doesn’t have direct functionality for receiving foreign currencies like US dollars. However, there are several ways to get dollars converted and deposited into your M-PESA account:

1. Partner Services:

• Safaricom M-PESA Global: This allows receiving money from international partners like MoneyGram, WorldRemit, Xoom, Skrill, Western Union, Ria Money Transfer and others. These partners operate in many countries including the US. The sender can send USD through these services, and it will be converted to KES and deposited into your M-PESA account after deducting service fees.
• M-PESA to PayPal: If the sender uses PayPal, you can link your M-PESA account to PayPal and receive money directly into your M-PESA wallet (conversion from USD to KES applies with fees).

2. Bank Transfers:

• International bank transfers: The sender can send USD to your Kenyan bank account linked to your M-PESA. Once the funds arrive in your bank account, you can then transfer them to your M-PESA wallet and exchange them for KES (bank and conversion fees apply).

3. Mobile Wallet Platforms:

• Other international mobile wallets: While not directly M-PESA, some US-based mobile wallets like Zelle or Cash App might allow transfers to Kenyan mobile wallets like M-PESA through partnerships with local money transfer services. These may involve multiple currency conversions and fees, so check the specific options and costs carefully.

Important notes:

• Fees: Each service or method likely has associated fees for international transfers and currency conversions. Compare and choose the most cost-effective option for your situation.
• Limits: There might be transaction limits depending on the chosen method and sender’s platform.
• Verification and Registration: You might need to register or set up specific services before receiving money through these methods.

Remember, choosing the best way to receive USD and convert it to KES for your M-PESA account depends on your specific situation and priorities. Explore your options, compare fees and limitations, and find the most convenient and economical approach for your needs.

Can I have two numbers on M-PESA app?

Unfortunately, you cannot have two separate phone numbers linked to the same M-PESA account and app. Having multiple numbers under one M-PESA account wouldn’t be secure or practical for financial transactions.

However, there are some nuances and alternative solutions depending on your specific needs:

1. Existing M-PESA Account & New Number:

• If you want to use a new phone number with your existing M-PESA account, you cannot directly link them. You would need to:
  • Register the new number for a separate M-PESA account. This means having two separate accounts and apps.
  • Consider transferring funds between accounts: You can send money from your old M-PESA account to your new one using money transfer features within the app.
  • Deactivate the old number if not needed: If you no longer require the old number, deactivate it after transferring funds and completing necessary operations.

2. Registered Business vs. Personal M-PESA:

• You can have separate M-PESA accounts, each with its own app, for personal and business purposes.
  • Register one for personal use with your personal number.
  • Register the other for your business with your business number.
  • This is helpful for managing finances separately and maintaining clarity.

3. Virtual Numbers for Businesses:

• Some businesses in Kenya utilize virtual numbers for specific services or promotions. These numbers might link to a single M-PESA account for receiving payments.
  • This approach is specific to businesses and not applicable for individual users.

Remember: Using the same phone number for your M-PESA account and app ensures security and convenience for managing your finances. Consider transferring funds or utilizing separate business accounts instead of aiming for multiple numbers within one M-PESA account.

What happens when you forget your M-PESA PIN?

If you forget your M-PESA PIN, there are a couple of ways you can reset it, depending on whether you’ve previously set up security questions:

1. With Security Questions:

• *Dial 334# on your phone.
• Select “My Account” > “M-PESA PIN Manager” > “M-PESA Forgot PIN.”
• Enter your ID/Passport number.
• Correctly answer two out of the three security questions you set up previously.
• You will receive a Start PIN via SMS.
• Use the Start PIN to create a new M-PESA PIN.

2. Without Security Questions:

• *Dial 334# on your phone.
• Select “My Account” > “M-PESA PIN Manager” > “M-PESA Forgot PIN.”
• Enter your ID/Passport number.
• You will be prompted to answer questions based on your recent M-PESA activity.
• If your answers are satisfactory, you will receive a Start PIN via SMS.
• Use the Start PIN to create a new M-PESA PIN.

Important notes:

• If you reach the maximum attempts (3) for answering the security questions or activity-based questions incorrectly, your account will be locked for 7 days. You will need to contact Safaricom customer care for assistance.
• You cannot reset your M-PESA PIN if you have done transactions in the last 24 hours or have had a SIM replacement within the last 7 days.
• For security reasons, choose a strong and unique PIN for your M-PESA account and avoid sharing it with anyone.

Here are some additional resources that you might find helpful:

• M-PESA PIN Reset: https://www.safaricom.co.ke/personal/m-pesa/getting-started/mpesa-reset
• Safaricom Customer Care: 100 or +254 722 002 000

I hope this information helps!

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