Mobile money wallet is currently one of the most used modes of payment in Kenya due to its accessibility. With a massive demand in the market, all banks have opted to partner with mobile service providers to enable their clients to link their bank accounts with mpesa or airtel money accounts. In this article, we highlight the new transfer charges from NCBA bank to Mpesa and Airtel accounts.
On March 16th, 2020 the Central Bank of Kenya (CBK) announced the waving of bank-to-mobile charges in support of the go-cashless campaign that was aimed at reducing the rate of Covid-19 infection. CBK made this announcement three days after Coronavirus hit the country.
Since then Kenyans have been enjoying free transfers to mobile money wallets. Initially, Safaricom had also waived the charges for all transactions below 1000 but they later reinstated the fees. However, for CBK it has taken then two years for them to reinstate the charges back.
Following CBK’s announcement the new transaction charges took effect on January 1st, 2023. Below we highlight the charges that NCBA bank will be charging from now onwards.
NCBA To Mpesa Charges
Taarif Charges
1-100 0
101-500 10
501-1000 12
1001-1500 14
1501-2500 23
2501-3500 33
3501-5000 43
5001-7500 55
7501-20,000 65
20,001-150,500 67
NCBA to Airtel Money
Taarif Charges