In this article, we will compare the bank to M-Pesa charges from various Kenyan banks, starting from the most affordable options and progressing to the most expensive. By considering these charges, you can make informed decisions that align with your financial goals.
When it comes to transferring funds from bank accounts to M-Pesa in Kenya, understanding the charges involved is crucial for cost-effective financial management.
Comparative Analysis of Bank to M-Pesa Charges in Kenya
Here’s a comprehensive comparison table based on the specified transaction ranges:
| Bank | Ksh1 – Ksh100 | Ksh101 – Ksh500 | Ksh501 – Ksh1000 | Ksh1001 – Ksh1500 | Ksh1501 – Ksh2500 | Ksh2501 – Ksh3500 | Ksh3501 – Ksh5000 | Ksh5001 – Ksh7500 | Ksh7501 – Ksh20000 | Ksh20001 – Ksh150000 |
|---|---|---|---|---|---|---|---|---|---|---|
| KCB | Ksh0 | Ksh11.2 | Ksh13.6 | Ksh16 | Ksh26 | Ksh38 | Ksh50 | Ksh64 | Ksh76 | Ksh78 |
| Equity Bank | Ksh0 | Ksh12 | Ksh14.4 | Ksh16.8 | Ksh27.6 | Ksh39.6 | Ksh51.6 | Ksh66 | Ksh78 | Ksh90 |
| NCBA Bank | Ksh0 | Ksh12 | Ksh14.4 | Ksh16.8 | Ksh27.6 | Ksh39.6 | Ksh51.6 | Ksh66 | Ksh78 | Ksh80.4 |
| Family Bank | Ksh0 | Ksh12 | Ksh14.4 | Ksh16.8 | Ksh27.6 | Ksh39.6 | Ksh51.6 | Ksh66 | Ksh66 | Ksh80.4 |
| I&M Bank | Ksh0 | Ksh12 | Ksh14.4 | Ksh16.8 | Ksh27.6 | Ksh39.6 | Ksh51.6 | Ksh66 | Ksh78 | Ksh78 |
| ABSA Bank | Ksh0 | Ksh13.2 | Ksh18 | Ksh21.6 | Ksh30 | Ksh42 | Ksh56.4 | Ksh68.4 | Ksh80.4 | Ksh84 |
| Stanbic Bank | Ksh0 | Ksh13.2 | Ksh18 | Ksh21.6 | Ksh30 | Ksh42 | Ksh56.4 | Ksh68.4 | Ksh80.4 | Ksh84 |
| Standard Chartered Bank | Ksh0 | Ksh13.2 | Ksh18 | Ksh21.6 | Ksh30 | Ksh42 | Ksh56.4 | Ksh68.4 | Ksh80.4 | Ksh84 |
| Diamond Trust Bank | Ksh0 | Ksh13.2 | Ksh18 | Ksh21.6 | Ksh30 | Ksh42 | Ksh56.4 | Ksh68.4 | Ksh80.4 | Ksh84 |
| Co-op Bank | Ksh0 | Ksh24 | Ksh28.8 | Ksh28.8 | Ksh28.8 | Ksh33.6 | Ksh33.6 | Ksh33.6 | Ksh43.2 | Ksh60 |
| Housing Finance Bank | Ksh0 | Ksh13.2 | Ksh18 | Ksh21.6 | Ksh30 | Ksh42 | Ksh56.4 | Ksh68.4 | Ksh80.4 | Ksh84 |
| Bank of Africa | Ksh0 | Ksh13.2 | Ksh18 | Ksh21.6 | Ksh30 | Ksh42 | Ksh56.4 | Ksh68.4 | Ksh80.4 | Ksh84 |
- KCB Bank charges the lowest fees for transactions in the given ranges, starting from Ksh0 for transactions up to Ksh100 and gradually increasing for higher transaction amounts.
- Equity Bank, NCBA Bank, Family Bank, I&M Bank, ABSA Bank, Stanbic Bank, Standard Chartered Bank, Diamond Trust Bank, Housing Finance Bank, and Bank of Africa have similar fee structures, with charges starting from Ksh0 for transactions up to Ksh100 and increasing gradually for higher transaction amounts.
- Co-op Bank stands out with a different fee structure. For transactions up to Ksh500, the fee is Ksh24, and for transactions between Ksh501 and Ksh1,000, the fee remains at Ksh28.8. It then decreases to Ksh33.6 for transactions between Ksh1,001 and Ksh3,500 before increasing again for higher transaction amounts.
- The fees charged by the banks generally increase as the transaction amounts increase, although the rate of increase varies between banks.
- The highest fees charged for transactions up to Ksh150,000 are Ksh84, which is the same for ABSA Bank, Stanbic Bank, Standard Chartered Bank, Diamond Trust Bank, Housing Finance Bank, and Bank of Africa.
- The fees charged by the banks are generally competitive, with most banks charging relatively similar amounts for transactions within the same ranges.
Please note that this information is based solely on the provided table and might not include all possible details or recent updates. It’s always advisable to refer to the official websites or contact the respective banks for the most accurate and up-to-date information regarding their charges.
