Equity Bank to M-PESA, Airtel Money Charges for 2023

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At the start of 2023, Kenyan banks re-introduced bank-to-mobile money charges, which had been dropped by the CBK at the start of the pandemic to cushion Kenyans from economic constraints. Different banks announced their tariffs, including Equity, and upon looking at them, we realized they were mostly the same, with no clear winner in terms of value.

Loop, the neobank by NCBA, was not charging people at that time too, but after its massive overhaul and revamp, it introduced bank to mobile money fees.

For now, only I&M Bank doesn’t charge customers for the same. This development was announced yesterday, and it is a welcome move that we hope other lenders will follow.

In the meantime, these are the charges for sending money from Equity Bank to M-PESA and Airtel Money:

From (KES)To (KES)M-PESA (KES)Airtel Money (KES)
110000
1015001011
50110001213
100115001420
150125002325
250135003335
350150004345
500175005555
7501200006565
20001150,0006765

6 COMMENTS

  1. The charges you have are false,they charge more than that.verify with them,otherwise you are misleading the users of those services.

  2. I&M is not the only bank that doesn’t charge for M-Pesa. Even Bank of Baroda was never charging customers for Bank to M-Pesa transactions. Bank of Baroda was the first bank to keep the transaction free

  3. Not correct. I have just sent 2000/ and they charged 24/- They’re charging 64/- to send 6000/-. This is robbery!

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