Equity Bank has also announced that it will be re-introducing charges for bank-to-M-Pesa transfers in January 2023. These charges had previously been waived to help cushion the impact of COVID-19 on Kenyans.
According to the bank, these charges will be exclusive of government taxes, meaning the actual cost of the transfer could be higher.
The charges for bank to M-Pesa transfers are as follows:
Equity Bank to M-Pesa transfer Charges 2023
| AMOUNT TRANSACTED | BANK TO M-PESA CHARGES | BANK TO AIRTEL MONEY CHARGES |
|---|---|---|
| 1 – 100 | 0 | 0 |
| 101 – 500 | 10 | 11 |
| 501 – 1,000 | 12 | 13 |
| 1,001 – 1,500 | 14 | 20 |
| 1,501 – 2,500 | 23 | 25 |
| 2,501 – 3,500 | 33 | 35 |
| 3,501 – 5,000 | 43 | 45 |
| 5,001 – 7,500 | 55 | 55 |
| 7,501 – 20,000 | 65 | 65 |
| 20,000 – 150,000 | 67 | 65 |
It is important for customers to be aware of these charges and to plan their financial transactions accordingly.
