Users have been experiencing new Safaricom M-Pesa rates that were announced earlier in July following the budget reading.
Treasury CS Henry Rotich presented the budget in Parliament in June where he disclosed the new tax measures the government would take to finance its mega Kshs.3 Trillion budget.
In his address, CS Rotich announced that there would be an increase in excise tax from 10 to 12 percent on mobile money transfers that would, in turn, affect the rates on M-Pesa transactions.
[caption caption="Customers carrying out transactions M-Pesa lobby"]
[/caption]
With the new rates, M-Pesa users will pay the following charges for their transactions:
Sending Ksh1,000 will cost Ksh15 while a rate of Ksh28 will be charged for withdrawing the same amount.
It will now cost Ksh26 to send Ksh1,500 and Sh56 for Ksh 3,500.
Users planning to send Ksh5,000 will part with Ksh61 and Ksh67 for withdrawing the same amount.
Sending Ksh10,000 will cost Ksh87 and Ksh102 for Ksh20,000 while users will be charged Ksh112 and Ksh180 for withdrawing the amounts respectively.
Other transactions remain unaffected though as sending Ksh100 is still free while withdrawing the same amount will cost Ksh10.
Similarly, M-Pesa registration, buying airtime through M-Pesa, M-Pesa balance enquiry and changing M-Pesa pin are all free.
Here's a chart with the new charges:
[caption caption="The New M-Pesa tariffs"]
[/caption]
Additionally, you can always check for Lipa na Mpesa charges by dialing *234# OK >M-Pesa information>Tariff query>Lipa na Mpesa and follow the prompts to check the charges.
