These are the new Mpesa charges effective 1st January 2021.

Safaricom announced about a week ago that the it will be reducing Mpesa tariffs by 45% effective January 2021.Kenyastax has compiled all information about the reduced Mpesa tariffs and how the new Mpesa charges will look like as of January 2021.

What is it?

Mpesa charges 2021. Safaricom has updated its Mpesa sending charges in what will be a 45% reduction in cost.

When will it be effective?

The new Mpesa charges will be effective starting 1st January 2021.This is due to the fact that the zero transaction cost for sending Ksh.0-1000 set by the telco due to covid-19 will no longer be active. In its financial statement in September, Safaricom announced that the zero cost for sending Ksh.0-1000 cost them a staggering Ksh.60 billion in revenue.

Who will benefit from this move?

Safaricom in a statement said that the reduction in Mpesa tariffs would benefit 90% of all customer transactions.

New Mpesa rates 2021
Nairobi, KENYA: Photo taken 23, April 2007 shows A man sending money through a pioneering mobile phone service called M-Pesa in Kenya’s capital, Nairobi.M-Pesa, [Pesa being swahili for money] has sky-rocketed in popularity for its low costs and convenience as users can send and receive money from remote areas through a mobile handset and at only a fraction of the cost of sending money through banks, courier and money transfer services. (Photo by TONY KARUMBA/AFP via Getty Images)

When will the new Mpesa charges be effective?

The new Safaricom Mpesa charges will be permanent as of January 1st 2021.

Here are the notable changes in the Mpesa charges

  • Sending any amount between Ksh.101-500 will cost Ksh.6 down from an initial cost of Ksh.11.
  • Sending any amount between Ksh.501-1000 will now cost Ksh.12 down from Ksh.15 initially.
  • Sending any amount from Ksh.1501-2000 will now cost Ksh.22 from an initial cost of Ksh.41.

The Mpesa withdrawal charges will remain as they were in 2020.For instance, withdrawing Ksh.5,000 from Mpesa costs Ksh.67 as before while withdrawing Ksh.1,000 costs Ksh.28 as it did before the new changes.

Below is the new Mpesa charges table effective January 1st 2021.

New Mpesa Charges For:

I.Transfer to other Mpesa Users,Pochi la Biashara and Business Till to customer

Min(Ksh.)Max(Ksh.)Mpesa rates
149FREE
50100FREE
1015006
501100012
1000150022
1501250032
2501350051
3501500055
5001750075
750110,00087
10,00115,00097
15,00120,000102
20,00135,000105
35,00150,000105
50,001150,000105

II.Transfer to Other registered mobile money users

Min(Ksh.)Max(Ksh.)Mpesa rates
149FREE
50100FREE
1015006
501100012
1000150022
1501250032
2501350051
3501500055
5001750075
750110,00087
10,00115,00097
15,00120,000102
20,00135,000105
35,00150,000105
50,001150,000105

III.Transfer to Unregistered users

Min(Ksh.)Max(Ksh.)Mpesa rates
149N/A
50100N/A
10150045
501100049
1000150059
1501250074
25013500112
35015000135
50017500166
750110,000205
10,00115,000265
15,00120,000288
20,00135,000309
35,00150,000N/A
50,001150,000N/A

IV.Withdrawal from an Mpesa Agent

Min(Ksh.)Max(Ksh.)Mpesa rates
149N/A
5010010
10150027
501100028
1000150028
1501250028
2501350050
3501500067
5001750084
750110,000112
10,00115,000162
15,00120,000180
20,00135,000191
35,00150,000270
50,001150,000300

V.ATM Withdrawal

Min(Ksh.)Max(Ksh.)Mpesa charges
200250034
2501500067
500110,000112
10,00120,000197

FAQs

What is the Maximum amount Mpesa can hold?

The maximum balance an Mpesa account can hold is Ksh.300,000.

What is the minimum Mpesa withdrawal limit

The minimum withdrawal limit on Mpesa is Ksh.50.

How much does it cost to withdraw Ksh.1,000 from Mpesa?

Ksh.28

How much does it cost to withdrwa Ksh.5,000 from Mpesa?

Ksh.67

How much does it cost to withdraw Ksh.10,000 from Mpesa?

Ksh.112

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By Jim

Jim is the founder and editor at Kenyastax.For business queries contact admin@kenyastax.com.

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