These are the new Mpesa charges effective 1st January 2021.
Safaricom announced about a week ago that 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.
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
II.Transfer to Other registered mobile money users
III.Transfer to Unregistered users
IV.Withdrawal from an Mpesa Agent
The maximum balance an Mpesa account can hold is Ksh.300,000.
The minimum withdrawal limit on Mpesa is Ksh.50.