The use of cash as a means of payment in Kenya has declined sharply as Kenyans turn to digital payments.
The use of mobile payments surged at the onset of the COVID-19 pandemic in March 2020 on Central Bank of Kenya (CBK) waiver of charges on low-ticket transactions to minimize the use of cash to contain the spread of the virus.
The CBK also waived charges on transactions between mobile money wallets and bank accounts but the charges were reinstated on January 1, 2023.
In July last year, Safaricom also announced a 3 percent mobile money transfer charges increase following the increase in excise duty on mobile money transfer services from 12 to 15 per cent.
This led to expensive transaction for Kenyans amid tough economic conditions. Some Kenyans are however becoming creative by sending money in small amounts to evade higher charges.
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Below is the breakdown of amount of money Safaricom charges per transaction.
MPESA Transaction Charges: Transfer Charges to Safaricom Users, Pochi La Biashara, and Business Till to Customers
| MIN (Ksh) | MAX (Ksh) | Transfer Fee (Ksh) |
| 0 | 49 | 0 |
| 50 | 100 | 0 |
| 101 | 500 | 7 |
| 501 | 1,000 | 13 |
| 1,001 | 1,500 | 23 |
| 1,501 | 2,500 | 33 |
| 2,501 | 3,500 | 53 |
| 3,501 | 5,000 | 57 |
| 5,001 | 7,500 | 78 |
| 7,501 | 10,000 | 90 |
| 10,001 | 15,000 | 100 |
| 15,001 | 20,000 | 105 |
| 20,001 | 250,000 | 108 |
MPESA Transfer charges to Other Registered Mobile Money Users (T-Kash, Airtel Users)
| MIN (Ksh) | MAX (Ksh) | M-PESA Charges (Ksh) |
| 0 | 49 | 0 |
| 50 | 100 | 0 |
| 101 | 500 | 7 |
| 501 | 1,000 | 13 |
| 1,001 | 1,500 | 23 |
| 1,501 | 2,500 | 33 |
| 2,501 | 3,500 | 53 |
| 3,501 | 5,000 | 57 |
| 5,001 | 7,500 | 78 |
| 7,501 | 10,000 | 90 |
| 10,001 | 15,000 | 100 |
| 15,001 | 20,000 | 105 |
| 20,001 | 250,000 | 108 |
M-PESA Transaction Charges to Unregistered Users
| MIN (Ksh.) | MAX(Ksh.) | MPESA Charges |
| 0 | 100 | 0 |
| 101 | 500 | 47 |
| 501 | 1,000 | 51 |
| 1,001 | 1,500 | 61 |
| 1,501 | 2,500 | 76 |
| 2,501 | 3,500 | 115 |
| 3,501 | 5,000 | 139 |
| 5,001 | 7,500 | 171 |
| 7,501 | 10,000 | 211 |
| 10,001 | 15,000 | 273 |
| 15,001 | 20,000 | 296 |
| 20,001 | 35,000 | 318 |
| 35,001 | 250,000 | 318 |
M-PESA Withdrawal Charges from Agent Shops
| MIN (Ksh) | Max (Ksh) | M-PESA Charges (Ksh) |
| 0 | 49 | n/a |
| 50 | 100 | 11 |
| 101 | 500 | 29 |
| 501 | 2,500 | 29 |
| 2,501 | 3,500 | 52 |
| 3,501 | 5,000 | 69 |
| 5,001 | 7,500 | 87 |
| 7,501 | 10,000 | 115 |
| 10,001 | 15,000 | 167 |
| 15,001 | 20,000 | 185 |
| 20,001 | 35,000 | 197 |
| 35,001 | 50,000 | 278 |
| 50,001 | 250,000 | 309 |
M-PESA Rates for ATM Withdrawal
| MIN (Ksh.) | MAX (Ksh.) | ATM withdrawal charges |
| 200 | 2,500 | 35 |
| 2,501 | 5,000 | 69 |
| 5,001 | 10,000 | 115 |
| 10,001 | 35,000 | 203 |
According to Safaricom,the maximum daily transaction value is Kshs.500,000 while the maximum amount per transaction is Kshs.250,000.
In addition, the maximum Account Balance is Kshs.500,000 and the minimum amount one can withdraw at an M-PESA Agent is Kshs.50.