Latest Safaricom MPesa Charges

Latest Safaricom MPesa Charges 2023: Kenyans Decry High Transaction Costs – Finance Bill Act

The latest Safaricom MPesa charges are raising eyebrows amid the enactment of the controversial Finance Bill. Transaction charges are expected to go even higher in a tense economy.

Kenya’s Court of Appeal recently lifted the suspension of the Finance Act, 2023. A formal application from Treasury CS Prof. Njuguna Ndung’u occasioned the freezing of Okiya Omtatah’s petition.

Latest Safaricom MPesa Charges 2023

The new MPesa charges increased from 12 per cent to 15 per cent effective July 29, 2023.

Safaricom PLC released the following statement ahead of implementation.

“Effective 29th July 2023, we will be reviewing our call, SMS, data, fiber, M-PESA pricing to reflect the increase in the excise duty rate on fees charged on mobile money transfer services from 12% to 15% and the decrease in excise duty rate in telecommunication services (call, SMS, data and fibre) from 20% to 15%.”

MPesa Statement.

Content creators will as well pay 5% higher in withholding tax.

1. Updated M-PESA Transaction Charges

The revised M-Pesa tariffs are as follows;

Transfer to registered MPesa users

MinMaxCharges
149FREE
50100FREE
1015007
501100013
1001150023
1501250033
2501350053
3501500057
5001750078
75011000090
1000115000100
1500120000105
2000135000108
3500150000108
50001150000108

2. Withdrawal from M-PESA Agents

MinMaxCharges
149N/A
5010011
10150029
501100029
1001150029
1501250029
2501350052
3501500069
5001750087
750110000115
1000115000167
1500120000185
2000135000197
3500150000278
50001150000309

3. Transfer to Other M-PESA Users

This includes transferring to Pochi la Biashara and from a Business Till to a customer.

MinMaxCharges
149FREE
50100FREE
1015007
501100013
1001150023
1501250033
2501350053
3501500057
5001750078
75011000090
1000115000100
1500120000105
2000135000108
3500150000108
50001150000108

4. Transfer to unregistered users

MinMaxCharges
149N/A
50100N/A
10150047
501100051
1001150061
1501250076
25013500115
35015000139
50017500171
750110000211
1000115000273
1500120000296
2000135000318
3500150000318
50001150000318

5. ATM Withdrawal

MINMAXCHARGES
200250035
2501500069
500110000115
1000135000203

6. Other Charges

TransactionsCharges
All deposits0
M-PESA registration0
Buying Airtime through M-PESA0
M-PESA balance enquiry0
Changing M-Pesa PIN0

Users can as well access the latest Safaricom MPesa charges by dialling *334# or through My Safaricom App.

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