FOLLOW THIS WHATSAPP CHANNEL FOR MORE UPDATES
CHANNEL: WHATSSAPP CHANNEL
M-Pesa Daily Transaction Limit Raised to KSh 500,000
Safaricom has increased the M-Pesa daily transaction value and account balance limits to KSh 500,000, aligning with the Central Bank of Kenya’s (CBK) earlier move in 2023 to raise the daily mobile money transaction limit to KSh 250,000. The telco lauded the change, stating it enhances convenience for customers in business transactions.
In a related development, Safaricom adjusted the M-Pesa airtime purchase limit, lowering the minimum amount from KSh 5 to KSh 1 in September 2024. This came as the company faced a 0.6% drop in voice call revenue to KSh 80.5 billion for the financial year. Safaricom explained to trendynews.co.ke that the lowered limit is available to all customers, providing a more accessible option for airtime purchases.
Safaricom Adjusts M-Pesa Withdrawal Fees
Safaricom, the leading telecommunications and mobile money provider, revised its withdrawal fees for transactions ranging from KSh 50 to KSh 250,000. Speaking exclusively to trendynews.co.ke, the company confirmed the new tariffs were implemented last year.
“The changes to transaction fees for sending and withdrawing have been in place for some time,” Safaricom stated.
Under the updated M-Pesa tariffs, transferring amounts between KSh 50 and KSh 100 remains free. However, the withdrawal fee for this range increased to KSh 11. For amounts between KSh 101 and KSh 2,500, customers now pay KSh 29, up from the previous fee of KSh 28.
These adjustments reflect Safaricom’s continued efforts to refine its mobile money services for enhanced accessibility and efficiency.
.
Below are the new M-Pesa transaction charges:
Safaricom has increased withdrawal charges for M-Pesa transactions: Here are some sample changes:
▪️50-100: +1 to 11
▪️101-500: +2 to 29
▪️7,501-10,000: +3 to 115
▪️10,001-15,000: +5 to 167
▪️35,001-50,000: +8 to 278
▪️50,001-150,000: +9 to 309Source: https://t.co/8wGMrsGGg9 pic.twitter.com/r5sijeKmqi
— Mwango Capital (@MwangoCapital) January 1, 2025
M-Pesa Transaction and Airtime Purchase Limits Adjusted by Safaricom
The M-Pesa daily transaction value and account balance limit have been increased to KSh 500,000. In 2023, the Central Bank of Kenya (CBK) raised the daily mobile money transaction limit to KSh 250,000, a move Safaricom embraced to enhance customer convenience in conducting business.
In September 2024, Safaricom Group recorded a 0.6% decline in voice call revenue, amounting to KSh 80.5 billion for the financial year. In response, the telco adjusted the M-Pesa airtime purchase limit, lowering it from KSh 5 to KSh 1 in a bid to boost additional revenue.
Speaking to trendynews.co.ke, Safaricom confirmed that this adjustment is accessible to all customers across various tariffs, further reflecting the company’s efforts to optimize its services for diverse user needs.