After a two-year stint of enjoying free bank-to-mobile wallet transactions, CBK has finally reinstated the fees, and now any transaction you make above 100 bob will attract a transaction fee. In this article, we focus on the new KCB to Mpesa transaction charges and we also compare the new and the old transactions Charges.
CBK made the announcement in the fall of 2022 and the directives took effect as of January 1st, 2023. The transaction charges were dropped in 2020 after Covid-19 landed in the country and one of the safety measures was to use mobile money to pay for different services and goods.
In order to achieve this CBK announced that bank-to-mobile transactions were off until the situation got better and two years down the line the charges are back. However, following the announcement numerous individuals have complained that the current charges are quite higher compared to the previous ones.
A point to note different banks have different transaction policies, well some banks may have increased the fee and some might have actually reduced the charges. To clear things up, in this article we will cover the new and the old bank-mobile transaction for Kenya Commercial Bank (KCB). Please note the below transaction charges only applies to KCB- Mpesa transaction only.
KCB to Mpesa Old Charges
Amount in Ksh Amount Charges in Ksh
1 – 100 54.32
101 – 500 54.32
501 – 1,000 54.32
1,001 – 1,500 62.88
1,501 – 2,500 62.88
3,501 – 5,000 62.88
5,001 – 7,500 62.88
7,501 – 20,000 62.88
20,001 – 150,000 62.88
KCB to Mpesa New Charges
Well for new charges there are slight changes but in equal measures, there is a decrease and increase at the same time. Lower amounts have reduced transaction changes while the huge transaction has been increased with a small margin compared to the previous ones.