In July 2023, Safaricom introduced new Mpesa tariffs following tax changes from the Finance Bill. These updates affect charges for withdrawals through agents, Paybill transactions, and transfers using business tills and Pochi la Biashara. Below is a breakdown of the new charges.
New Mpesa Charges for Withdrawals via Agents (Effective July 29, 2023):
The table below highlights the withdrawal charges for registered users at Mpesa agents.
| Min (KSHs.) | Max (KSHs.) | M-PESA Charges (KSHs.) |
|---|---|---|
| 1 | 49 | N/A |
| 50 | 100 | 11 |
| 101 | 500 | 29 |
| 501 | 1,000 | 29 |
| 1,001 | 1,500 | 29 |
| 1,501 | 2,500 | 29 |
| 2,501 | 3,500 | 52 |
| 3,501 | 5,000 | 69 |
| 5,001 | 7,500 | 87 |
| 7,501 | 10,000 | 115 |
| 10,001 | 15,000 | 167 |
| 15,001 | 20,000 | 185 |
| 20,001 | 35,000 | 197 |
| 35,001 | 50,000 | 278 |
| 50,001 | 70,000 | 309 |
New Mpesa Paybill Charges:
Mpesa charges for Paybill transactions vary depending on the specific paybill number, and the business does not incur sending charges. Below are the key details regarding these charges.
Till and Pochi La Biashara Charges:
For those using Pochi La Biashara or Business Till to transfer money, the following are the new charges for sending money to customers and unregistered users.
Mpesa Account and Transaction Limits:
- Maximum Mpesa account balance: Ksh. 300,000
- Maximum daily transaction limit: Ksh. 300,000
- Maximum transaction limit per instance: Ksh. 150,000
Conclusion:
With the new Mpesa tariffs in effect from July 29, 2023, it’s important to stay informed about the updated charges for withdrawals, Paybill transactions, and business services. These rates ensure users comply with the new tax regulations introduced in the Finance Bill of 2023.
This guide provides a clear breakdown of the Mpesa tariffs for 2024, helping users understand the updated charges for withdrawals and Paybill transactions.
