Safaricom has today adjusted their M-Pesa charges. According to the company, the change was necessitated by the Finance Bill 2018 which raises the excise tax on mobile money from 10% to 15%.
The M-Pesa charges have increased by an average of 1 shilling for withdrawing, including via ATMs, and sending money. For instance sending Ksh. 1,001 – 1,500 will now cost Ksh. 26, up from Ksh. 25. Sending to unregistered numbers has gone up by a considerable amount more especially for larger sums. Sending 5,001 – 7,500 to an unregistered user is now Ksh. 166, up from Ksh. 143. In an interesting development, M-Pesa balance enquiry and changing M-Pesa PIN is now free. The two features used to previously cost Ksh. 1 and Ksh. 22 respectively.
The new M-PESA tariffs, which take effect immediately, are below:
|Transaction Range (KShs)||Transaction Type and Customer Charges (KShs)|
Other Mobile Money Users
|Transfer to Unregistered Users||Withdrawal from M-PESA Agent|