M-PESA Transaction Charges for 2024

This article aims to shed light on the updated fees and limits set by Safaricom for M-PESA transaction charges in 2024, enabling users to make informed financial decisions.

M-PESA, a revolutionary mobile money transfer service offered by Safaricom, continues to be a prominent and convenient way for Kenyans to securely send, receive, and store money.

As we venture into 2024, staying informed about the latest M-PESA transaction charges, withdrawal rates, and transaction limits is crucial.

M-PESA Transaction Charges

Regarding M-PESA transaction charges, it’s important to note that they vary based on the transaction amount. Safaricom has implemented a tiered fee structure, ensuring that lower transaction amounts incur lower charges than larger transactions. The following are the M-PESA transaction charges for 2024:

M-Pesa Charges for Sending Money

1. Transactions between Ksh 1 and Ksh 49: Free
2. Transactions between Ksh 50 and Ksh 100: Ksh 1
3. Transactions between Ksh 101 and Ksh 500: Ksh 3
4. Transactions between Ksh 501 and Ksh 1,000: Ksh 5
5. Transactions between Ksh 1,001 and Ksh 1,500: Ksh 10
6. Transactions between Ksh 1,501 and Ksh 2,500: Ksh 15
7. Transactions between Ksh 2,501 and Ksh 3,500: Ksh 20
8. Transactions between Ksh 3,501 and Ksh 5,000: Ksh 25
9. Transactions between Ksh 5,001 and Ksh 7,500: Ksh 30
10. Transactions between Ksh 7,501 and Ksh 10,000: Ksh 35
11. Transactions between Ksh 10,001 and Ksh 15,000: Ksh 45
12. Transactions between Ksh 15,001 and Ksh 20,000: Ksh 60

M-PESA Agent Withdrawal Charges

1. Transactions between Ksh 1 and Ksh 49: Free
2. Transactions between Ksh 50 and Ksh 100: Ksh 10
3. Transactions between Ksh 101 and Ksh 500: Ksh 27
4. Transactions between Ksh 501 and Ksh 1,000: Ksh 28
5. Transactions between Ksh 1,001 and Ksh 1,500: Ksh 28
6. Transactions between Ksh 1,501 and Ksh 2,500: Ksh 28
7. Transactions between Ksh 2,501 and Ksh 3,500: Ksh 50
8. Transactions between Ksh 3,501 and Ksh 5,000: Ksh 67
9. Transactions between Ksh 5,001 and Ksh 7,500: Ksh 84
10. Transactions between Ksh 7,501 and Ksh 10,000: Ksh 112
11. Transactions between Ksh 10,001 and Ksh 15,000: Ksh 162
12. Transactions between Ksh 15,001 and Ksh 20,000: Ksh 180

M-PESA Transaction Limits

Safaricom has also set transaction limits to ensure secure and regulated financial operations. The transaction limits for M-PESA in 2024 are as follows:

• Daily Transaction Limit: Ksh 300,000
• Single Transaction Limit: Ksh 150,000
• M-PESA Account Balance: Ksh 1,000,000

In Conclusion

Being aware of the M-PESA transaction charges, withdrawal rates, and transaction limits is crucial for M-PESA users in 2024. Safaricom’s tiered fee structure ensures that smaller transactions incur minimal charges while larger transactions carry higher fees.

Users can make informed decisions when sending or withdrawing money through M-PESA by understanding these charges and limits. It’s advisable to stay updated with future changes and refer to Safaricom’s official sources for the most accurate and up-to-date information regarding M-PESA transaction charges and limits.

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