All these services are not free to use, obviously. Otherwise, they’d be out of business. M-PESA typically charge fees for their services, which may vary depending on the specific transaction and the provider.
Here Are the Updated M-PESA Transaction Charges for 2023How to make M-PESA to Bank depositsFull List of USSD Codes For Banks In Kenya
Recently, we saw the Central Bank of Kenya come in to reinstate the M-PESA to Bank transaction fees that were scrapped at the height of the 2020 COVID-19 pandemic. These changes take effect from 2023 and along with that, we’re going to see a reduction in the transaction cost when using the M-PESA Pay bill function on the platform. The new M-Pesa pay bill charges are lower than the current rates by an average of 61%. These rates are much lower than the new M-PESA to Bank transactions which have also seen a cut by approximately 47%.
M-PESA Pay Bill charges for 2023
With the high cost of living, this move will go a long way to make Kenyans’ lives a tad bit more bearable. This should also be a breath of fresh air for the millions of traders and vendors who have been enjoying free reign of the free M-PESA to Bank transaction, and extending the same to their customers.
