The Central Bank of Kenya just announced that they’re going to start charging fees for bank-to-mobile money transfers starting January 1, 2023. This is because the financial industry in Kenya asked for the fees to be reinstated – they were dropped during the pandemic. Up until now, Kenyans have been able to enjoy this service for free for almost three years, but that’s coming to an end. From now on, every time you want to transfer money to a mobile money wallet, you’re going to have to pay a fee. Family Bank has specific fees that they’re charging, too.
Charges:
| Transaction range in KES | M-PESA Charge in KES | Airtel Money charge in KES |
| 1-100 | 0 | 0 |
| 101-500 | 10 | 11 |
| 501-1000 | 12 | 13 |
| 1001-1500 | 14 | 20 |
| 1501-2500 | 23 | 25 |
| 2501-3500 | 33 | 35 |
| 3501-5000 | 43 | 45 |
| 5001-7500 | 55 | 55 |
| 7501-10,000 | 55 | 55 |
| 10,001-15,000 | 65 | 65 |
| 15,001-20,000 | 65 | 65 |
| 20,001-150,000 | 67 | 65 |
