Equity Bank charges for sending money to M-Pesa accounts are based on the amount you’re transferring. They typically range from a minimum of KES 10 to a maximum of KES 200. Keep in mind, these charges are subject to change and may vary from time to time.
Also, remember that these charges are automatically deducted from your account when you initiate the transfer. So, it’s always a smart move to account for these fees when planning your transfer.
This article will shed light on three popular methods: bank-to-mobile wallets, Equitel to other mobile wallets, and bank-to-bank transfers.
Bank to Mobile Wallets
Transferring money between bank accounts and mobile wallets such as M-Pesa and Airtel Money is a popular method for quick and efficient fund transfers. The charges for these transfers vary based on the transfer amount.
| Transfer Amount (KSHs) | Bank Charge to M-Pesa (KSHs) | Bank Charge to Airtel (KSHs) |
|---|---|---|
| 1 – 100 | 0 | 0 |
| 101 – 500 | 11 | 11 |
| 501 – 1,000 | 13 | 13 |
| 1,001 – 1,500 | 20 | 20 |
| 1,501 – 2,500 | 25 | 25 |
| 2,501 – 3,500 | 35 | 35 |
| 3,501 – 5,000 | 45 | 45 |
| 5,001 – 7,500 | 55 | 55 |
| 7,501 – 20,000 | 65 | 65 |
| 20,001 – 150,000 | 65 | 65 |
Equitel to Other Mobile Wallets
Equitel provides a convenient option for transferring funds to other mobile wallets like M-Pesa and Airtel Money.
Note: Similar to bank to mobile wallet transfers, the charges for these transfers vary based on the transfer amount.
Bank to Bank Transfers
Bank-to-bank transfers offer a reliable and secure way to move funds between different bank accounts.
| Transfer Type | Service Charge (KSHs) |
|---|---|
| Equity to Equity Account | 0 |
| Equity to Other Bank Accounts | 500 |
| Equity to Other Bank Accounts (PesaLink) | 0 – 1,000: 0 1,000 – 100,000: 50 100,001 – 999,000: 100 |
| Cross Border (SWIFT) | 1,000 |
Equity Bank Kenya to mobile money M-Pesa and Airtel Money charges 2023
| Transaction bands (Kshs) | Transaction charges (Kshs) | |
|---|---|---|
| Safaricom | Airtel | |
| 1 – 100 | Free | Free |
| 101 – 500 | 10 | 11 |
| 501 – 1,000 | 12 | 13 |
| 1,001 – 1,500 | 14 | 20 |
| 1,501 – 2,500 | 23 | 25 |
| 2,501 – 3,500 | 33 | 35 |
| 3,501 – 5,000 | 43 | 45 |
| 5,001 – 7,500 | 55 | 55 |
| 7,501 – 20,000 | 65 | 65 |
| 20,001 – 150,000 | 67 |
Special Conditions and Limitations
Transferring funds from Equity Bank to M-Pesa involves certain conditions and limitations. For instance, you can only send a maximum of KES 150,000 per transaction. Additionally, the total amount you can send within a day is capped at KES 300,000. It’s crucial to keep these limits in mind to avoid any hitches when making your transfer.
Another important point to note is that to use this service, you must have both an active Equity Bank account and an active M-Pesa account. If one of these is not active, you will not be able to make the transfer.
Making Sense of Equity Bank to M-Pesa Charges
In conclusion, understanding the charges associated with transferring money from your Equity Bank account to an M-Pesa account is key to efficient financial planning. Be sure to check the current rates and terms before initiating a transaction. This way, you’ll be well-prepared and won’t be caught off guard by unexpected fees or limits.
Whether you’re sending money regularly or occasionally, being informed about the costs involved can help you make the most of this convenient service. After all, nobody likes unpleasant surprises when it comes to their hard-earned money! So, stay knowledgeable and keep those transfers flowing smoothly.
