Do you want to make a transaction but are wondering what the latest Mpesa withdrawal charges are? If yes, check out this guide on Mpesa charges in 2023.
Mpesa is a mobile money transfer service provided by Safaricom, which is widely used in Kenya. The service has revolutionized how people conduct financial transactions by providing a secure, convenient, affordable platform for money transfers and payments. One of the most common transactions made using Mpesa is cash withdrawal. This article will discuss Mpesa withdrawal charges and how they affect the end-users.
Latest Mpesa Withdrawal Charges 2023
The withdrawal charges for Mpesa transactions depend on the withdrawn amount, and the rates are reviewed occasionally. In Kenya, the minimum withdrawal amount is Ksh 50, and the maximum withdrawal per transaction is Ksh 150,000. Also, the maximum amount you can withdraw from a Safaricom agent daily is Ksh 300,000.
- Minimum withdrawal amount (Mpesa Agent): Ksh 50
- Maximum withdrawal per transaction: Ksh 150,000
- Maximum daily withdrawal limit: Ksh 300,000
For amounts between Ksh 50 and Ksh 100, the withdrawal fee is Ksh 10. So, if you want to withdraw Ksh 50, you need at least Ksh 60 in your account. For amounts between Ksh 101 and Ksh 500, the withdrawal fee is Ksh 27. For amounts between Ksh 501 and Ksh 70,000, the charges are calculated using a tiered system. The withdrawal charges for Ksh 501 and Ksh 1,500 are Ksh 28.
The table below shows the latest Mpesa withdrawal charges. It’s important to note that the Mpesa withdrawal charges are subject to change. Therefore, users should always confirm with Safaricom for the most up-to-date information.
|Mpesa Withdrawal Charges from a Safaricom Agent|
|Min (Ksh)||Max (Ksh)||Charges|
Now You Know The Latest Mpesa Withdrawal Charges
The charges for Mpesa withdrawals are among the lowest in Kenya, and this has made the service popular among people who do not have bank accounts. Mpesa has also enabled people to access financial services in areas where banks are not available. This has contributed to financial inclusion, which is essential for economic growth.
Despite the low charges, the withdrawal fees can add up, especially for people who make frequent withdrawals. This is why it is advisable to plan withdrawals carefully and avoid making unnecessary withdrawals.
Please Note: You can now Fuliza at any Safaricom Mpesa Agent. So, if you don’t have enough amount in your M-PESA wallet, visit a Safaricom shop, and you can withdraw an overdraft from your Fuliza.
Also, besides Safaricom agents, you can withdraw funds from any bank ATM countrywide.