Updated M-Pesa Charges for 2024: A Comprehensive Overview

M-Pesa Charges for 2024

M-Pesa, an innovative mobile payment system introduced by Safaricom in 2007, has transformed financial transactions in Kenya and beyond. With its recent updates in charges for 2024, users must be informed about the revised rates for withdrawals, sending money, and other transactions. This article provides a detailed breakdown of the new M-Pesa charges, along with an overview of its impact on Kenya’s financial landscape


M-Pesa Withdrawal Charges (KShs)

Withdrawal Amount (KShs)M-Pesa Charges (KShs)
1 – 49N/A
50 – 10011
101 – 50029
501 – 1,00029
1,001 – 1,50029
1,501 – 2,50029
2,501 – 3,50052
3,501 – 5,00069
5,001 – 7,50087
7,501 – 10,000115
10,001 – 15,000167
15,001 – 20,000185
20,001 – 35,000197
35,001 – 50,000278
50,001 – 150,000309

Note: Minimum withdrawal amount is KShs 50 at M-Pesa agent outlets.


M-Pesa Sending Charges to Unregistered Users

Sending Amount (KShs)M-Pesa Charges (KShs)
1 – 49N/A
50 – 100N/A
101 – 50047
501 – 1,00051
1,001 – 1,50061
1,501 – 2,50076
2,501 – 3,500115
3,501 – 5,000139
5,001 – 7,500171
7,501 – 10,000211
10,001 – 15,000273
15,001 – 20,000296
20,001 – 35,000318
35,001 – 50,000318
50,001 – 150,000318

M-Pesa Charges for Sending Money to M-Pesa Users

Sending Amount (KShs)M-Pesa Charges (KShs)
1 – 49Free
50 – 100Free
101 – 5007
501 – 1,00013
1,001 – 1,50023
1,501 – 2,50033
2,501 – 3,50053
3,501 – 5,00057
5,001 – 7,50078
7,501 – 10,00090
10,001 – 15,000100
15,001 – 20,000105
20,001 – 35,000108
35,001 – 50,000108
50,001 – 150,000108

M-Pesa Charges for Sending Money to POCHI La Biashara

Sending Amount (KShs)M-Pesa Charges (KShs)
1 – 49Free
50 – 100Free
101 – 5007
501 – 1,00013
1,001 – 1,50023
1,501 – 2,50033
2,501 – 3,50053
3,501 – 5,00057
5,001 – 7,50078
7,501 – 10,00090
10,001 – 15,000100
15,001 – 20,000105
20,001 – 35,000108
35,001 – 50,000108
50,001 – 150,000108

M-Pesa Transaction Rates: ATM Withdrawal

Withdrawal Amount (KShs)M-Pesa Charges (KShs)
200 – 2,50035
2,501 – 5,00069
5,001 – 10,000115
10,001 – 20,000203

M-Pesa Overview

M-Pesa, launched by Safaricom in 2007, revolutionized financial transactions by enabling users to send and receive money using their mobile phones. With over 30 million users in Kenya alone, M-Pesa has become a global leader in mobile payment systems. Apart from person-to-person transactions, users can pay for goods and services and even withdraw cash from ATMs. Its success has inspired similar systems in other countries, contributing to the growth of mobile payments globally.

Conclusion

M-Pesa’s updated charges for 2024 reflect Safaricom’s commitment to providing affordable and convenient financial services. Despite some charges associated with transactions, M-Pesa remains an integral part of Kenya’s financial ecosystem, driving financial inclusion and fostering economic growth. Its success story serves as an inspiration for other developing nations seeking to enhance their financial infrastructure.