Absa Bank Kenya PLC has announced an increase on transaction limits on its Timiza wallet, offering customers greater flexibility and convenience in managing their finances.

Under the new changes, the maximum amount that one can transact in a single transaction on Timiza has been raised to Ksh. 250,000 from Ksh. 150,000. At the same time, the daily transaction limit has been increased to Ksh. 500,000 from Ksh. 300,000.

Making the announcement, Absa Bank Kenya’s Head of Digital Channels, Steve Omamo said the move is in line with recent changes in mobile money transaction limits and evolving consumer needs. “Our key priority remains to become a truly customer-obsessed financial institution that places the customer at the centre of every decision, giving them a voice and a platform to shape Absa’s products and services with their evolving needs in mind. By implementing the increase in transaction limits, we are conscious of the need to be responsive to customer needs but also the growing need to transform into a digitally powered business. It will also make banking on the go more efficient and convenient for our customers,,”.

The announcement comes months after Absa Bank unveiled an Automated Teller Machine (ATM) withdrawal option on Timiza to allow subscribers to withdraw funds from any Absa Bank ATM across the country.

This new move by Absa Bank on Timiza daily and transaction limits have been made possible by approval from the Central Bank of Kenya (CBK). Safaricom and Airtel have also increased M-PESA transaction limits to KSh. 250,000.