Starting January 2023, Kenyan banks will charge customers a fee (plus excise duty of 20%) when moving funds from their bank accounts to M-Pesa and Airtel Money mobile money wallets. Mobile money wallets will also charge fees when moving cash from the wallets to bank accounts. This change comes after the charges, which had been removed to cushion Kenyans during the COVID-19 pandemic, were waived.
If you are a customer of KCB Bank and want to transfer funds from your bank account to an M-Pesa account, in this article, we will provide a breakdown of the KCB Bank to M-Pesa transfer charges for 2023.
KCB Bank to M-Pesa Transfer Charges 2023
| AMOUNT TRANSACTED | BANK-TO-MOBILE MONEY CHARGES |
|---|---|
| 1 – 100 | 0 |
| 101 – 500 | 11.20 |
| 501 – 1,000 | 13.60 |
| 1,001 – 1,500 | 16 |
| 1,501 – 2,500 | 26 |
| 2,501 – 3,500 | 38 |
| 3,501 – 5,000 | 50 |
| 5,001 – 7,500 | 64 |
| 7,501 – 20,000 | 76 |
| 20,000 – 150,000 | 78 |
It is worth noting that these charges are subject to change at any time.
