New M-Pesa charges: Safaricom has adjusted M-Pesa tariffs on the basis of Finance Bill, 2018 and the Provisional Collection of Taxes and Duties Act.
The government proposed a two per cent increase on the excise duty charged on service providers. Kenyans will now pay a 12 per cent excise duty on mobile money transactions, up from 10 per cent.
The telecommunications giant announced that the new tariffs are effective July 1. The news charges are between Sh. 1 and Sh. 3 higher.
The new M-Pesa charges come after the government introduced a 12 per cent excise tax on mobile money transfers. They take effect on Sunday July 1, 2018
M-Pesa users are only allowed three free mobile transfers per day (of amounts below Sh. 100) after which there is a (minimal) charge of Sh. 1 for amounts Sh. 1 to Sh. 49 and Sh. 2 for amounts Sh. 50 to Sh. 100
The maximum daily transaction value is Sh. 140,000 while the maximum amount per transaction is Sh. 70,000.
Here’s the banner showing all the new M-Pesa charges:
Safaricom further said that customers will not be able to withdraw less than Sh. 50 from agents.
“You cannot deposit money directly into another M-Pesa customer`s account at an agent outlet,” it added, as stated in the notice below.