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M-Pesa and Telkom T-Kash Transaction Fees Revised for the Viral Pandemic in Kenya

Vincent by Vincent
2022-04-04
in News
Reading Time: 2 mins read
Mobile Money

A few days ago, Safaricom revised upwards their M-Pesa transaction upwards but after a meeting with Central Bank with other mobile money providers on 16th March 2020, they have introduced new service charge that will take effect for the next 90 days. The change is targeted at reducing cash transactions considering the current pandemic. It is worth noting that sending any amount below Kshs 1,000 to other M-Pesa users and Telkom TKash will be free for the next 90 days.

Mobile Money

Daily transaction limit has also been increased from Kshs70,000 to Kshs150,000.Daily limit from Kshs140,000 to Kshs300,00. The limit users can hold in their mobile wallet account is now up to Kshs300,000. The limit on the monthly transactions has been lifted.

Here is the official communication from Central Bank of Kenya.

Press release: Emergency Measures to Facilitate Mobile Money Transactions pic.twitter.com/py6FIsvYdH

— Central Bank of Kenya (@CBKKenya) March 16, 2020

Here is Safaricom’s official message concerning the waiver.

We have waived fees for person to person M-PESA transactions below kshs1,000, and increased daily transaction limits from Kshs70,000 to Kshs150,000. pic.twitter.com/Urmq2M1ITC

— Safaricom PLC (@SafaricomPLC) March 16, 2020

Telkom also put out a statement about the same detailing their charges.

Following the changes made to Tkash transaction costs and limits in a bid to encourage the use of mobile money and cashless transactions, we have revised our TKash tariff rates effective midnight today for the next 90 days. pic.twitter.com/xkM6Kmvx8N

— Telkom Kenya (@TelkomKenya) March 16, 2020

Just remember that you and your recipient must be registered mobile money user to enjoy the offer.

Tags: KenyaSafaricomTelkom
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Vincent

Vincent

Vincent is the founder of ourphonestoday.com with over 5 years in information technology and 3+ years investing in stocks, cryptocurrencies, and the forex market. He researches and writes about topics ranging from technology to business and the merger of the two with ways to make money on the internet. He's also passionate about photography and videography.

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