Here Are the Updated M-PESA Transaction Charges for 2024

2020 was a rough year for most people due to the global crisis that is COVID-19. Perhaps the saving grace or silver lining throughout the whole crisis period was the cushioning offered by governments and corporations.

Well, things are beginning to ease up and these relief measures are getting scrapped one after the other. In line with that, Safaricom is looking to offer its M-PESA customers a little reprieve moving forward.

Today thanks to the enactment of the Finance Act 2023, here are the new M-PESA transaction charges that are applicable going into 2024.

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Related:

• M-PESA Customer Care: Here’s How to Get in Touch
• M-PESA Tightens Security: No More Transfers to Unregistered Account

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M-PESA Charges Starting July 29, 2023

Below is a table listing how much it’ll cost you to perform a transaction on Safaricom’s Mobile money platform, M-PESA starting July 29, 2023. Here are the 2023 M-PESA charges.

TRANSACTION	RANGE (KSHS)	TRANSACTION	TYPE AND CUSTOMER	CHARGES (KSHS)
MIN	MAX	TRANSFER TO M-PESA USERS, POCHI LA BIASHARA AND BUSINESS TILL TO CUSTOMER	TRANSFER TO OTHER REGISTERED MOBILE MONEY USERS	TRANSFER TO UNREGISTERED USERS	WITHDRAWAL FROM M-PESA AGENT
1	49	Free	Free	N/A	N/A
50	100	Free	Free	N/A	11
101	500	7	7	47	29
501	1,000	13	13	51	29
1,001	1,500	23	23	61	29
1,501	2,500	33	33	76	29
2,501	3,500	53	53	115	52
3,501	5,000	57	57	139	69
5,001	7,500	78	78	171	87
7,501	10,000	90	90	211	115
10,001	15,000	100	100	273	167
15,001	20,000	105	105	296	185
20,001	35,000	108	108	318	197
35,001	50,000	108	108	318	278
50,001	150,000	108	108	318	309

Please note that these charges are subject to change so stay tuned for the most up to date rates, as and when they are revised by Safaricom.

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Also, being retained is the increased capacity of an M-PESA account. M-PESA users can now have up to Ksh 300,000 on their M-PESA mobile wallet accounts while the daily limit to transactions is also retained at Ksh 300,000.

Safaricom remains the biggest teleco in Kenya with a market share of a little over 60%, according to data from the Communication Authority. Its mobile money platform, M-PESA, continues to reign supreme in the country with a 99% market share.