Starting today, 1st of July 2018, the charges for M-Pesa transactions increased with 2 percent. The change came into effect after the Kenyan government proposed a 2 percent increase on excise duty on service providers, from 10 percent to 12 percent – which led Safaricom to adjust their service fees. The tax increase by the government is part of measures to raise over Sh4 billion to fund Universal Health Care.
How will this affect you?
Safaricom offers three free transactions per day as long as the amount is below Sh100. For transactions exceeding Sh100 you will have to pay Sh1 for amounts between Sh1 and Sh49, and Sh2 for amounts between Sh50 and Sh100.
Should you withdraw an amount between Sh501 and Sh2500 from an M-Pesa agent it would now cost you Sh28 instead of Sh27. Also note that the new minimum amount to withdraw from an M-Pesa agent is Sh50, and you can’t deposit money straight into another M-Pesa customer’s account at an agent outlet. You can see the table with the new tariffs in the table below and see more information on Safaricom’s website.
M-Pesa in the world of betting.
M-Pesa still remains one of the top choices for Kenyans when it comes to depositing and withdrawing money from betting sites. African Betting Guide recommends the best betting sites in Kenya with several secure and safe banking options. If you feel that the M-Pesa increase has discouraged you to use their service, you can always use other services like Airtel.
Betway has one of the best betting sites in Kenya today and for good reasons – they have great banking options with the latest SSL encryption technology, great 24/7 customer service, best odds and hundreds of different markets. Another good thing with Betway is that you will get a 100% free welcome bonus when you deposit using M-Pesa.
In short – M-Pesa increase
– A minimum withdrawal amount of Sh50 applies when withdrawing from M-Pesa agents.
– Three different bands joined into one band ranging between Sh20 001 and Sh35 000 with an applicable transaction fee of Sh19.
– When withdrawing an amount between Sh501 and Sh2500, a transaction fee of Sh28 applies instead of Sh27.