in this article you will get to learn more about mpesa fees, what’s the process registration in mpesa. What are the Withdrawl Limits and How to become an mpesa agent? if you have any questions from above. All these will be solved and you can also check FAQs section for more
Mpesa Charges for ATM Withdrawal [Feb 2021]
| Min (Kshs.) | Max (Kshs.) | M-PESA charges |
| 200 | 2,500 | 34 |
| 2.501 | 5,000 | 67 |
| 5,001 | 10,000 | 112 |
| 10,001 | 20,000 | 197 |
How M-Pesa is Transforming Lives Economically?
Payment rich applications such as Apple Pay, Venmo, Google Pay, and WeChat payment have changed the way one makes payments. These days there seems to be a way to pay for any device or service. And that’s fine. Mobile payment services nowadays make it easier and safer for people to send money, which helps those who don’t have easy access to banks in Africa.
In some places, this is not new. If we look back at the history of mobile payments – we are playing catch-up. Since 2007, Kenya’s M-PESA has changed people’s way of spending, saving, and sending money to their loved ones.
Thanks to M-Pesa, the service has strengthened the financial roots of the Kenyan people.
The Transaction Cost of mpesa in 2021
| Min (Kshs.) | Max (Kshs.) | Withdrawal from M-PESA agent | Transfer to unregistered users | Money Transfer to other M-PESA users | Transfer to other mobile money users |
| 1 | 49 | N/A | N/A | Free | N/A |
| 50 | 100 | 10 | N/A | Free | N/A |
| 101 | 500 | 27 | 45 | Free | 11 |
| 501 | 1,000 | 28 | 49 | Free | 15 |
| 1,001 | 1,500 | 28 | 59 | 26 | 26 |
| 1.501 | 2,500 | 28 | 74 | 41 | 41 |
| 2,501 | 3,500 | 50 | 112 | 56 | 56 |
| 3,501 | 5,000 | 67 | 135 | 61 | 61 |
| 5,001 | 7,500 | 84 | 166 | 77 | 77 |
| 7,501 | 10,000 | 112 | 205 | 87 | 87 |
| 10,001 | 15,000 | 162 | 265 | 97 | 97 |
| 15,001 | 20,000 | 180 | 288 | 102 | 102 |
| 20,001 | 35,000 | 191 | 309 | 105 | 105 |
| 35,001 | 50,000 | 270 | N/A | 105 | 105 |
| 50,001 | 150,000 | 300 | N/A | 105 | 105 |
M-Pesa: The Mobile Currency
M-Pesa is the most successful mobile financial service and the largest fintech platform in Africa.
M-Pesa is the preferred method of making payments across the continent due to its incomparable security and ease of use. It provides easy financial services to millions of people who have mobile phones and those who fail to access their bank accounts or have limited banking services.
M-Pesa: Let’s Understand its roots
In 2007, Vodafone’s Safaricom introduced an affordable, and easy-to-use solution to facilitate simple transactions: a personalized transfer service, known as M-Pesa.
To note, MPESA was the brainchild of Safaricom’s founding CEO, Michael Johnson, who was the predecessor of the late Bob Collymore and now currently serves as Board Chairman of Safaricom.
Using M-Pesa services, anyone with access to a mobile phone can send and receive money even if you have a bank account. The late Bob Collymore, described the service delivery as “excellent”, when comparing to other technology products. Under his leadership, the late Collymore enabled the service to grow significanlty, thus transforming the lives of thousands of Kenyans to start small businesses, thereby progressing their economic standings.
M-Pesa: The Positive Outcomes
According to M-Pesa users opinions, the ability to send and quickly receive money through the service made it easier for users to pay for a wide range of products and services, both in retail stores and online. For example, through Safaricom’s Little Cab, using Songa music streaming service, e-commerce marketing platform .com, and a messaging service Bonga. Together with this, a 2012 MIT study found that M-Pesa helps Kenyans better manage situations when they face financial uncertainty, such as when they are in poor health or during a drought.
So, we have discussed M-Pesa, its outcomes, and its effect on the poor’s economic conditions; let’s move on to its usability and functionalities.
How to Register for M-Pesa?
You can easily register on an M-Pesa account for free; let’s dive into the straightforward procedure-
Just go to an M-PESA Authorized Representative and follow the following steps.
Step 1: Replace your Old Safaricom SIM Card
- Update your Safaricom SIM card if required at the cost of Ksh20 (All new Safaricom SIM cards have an M-PESA menu)
- You will only need to insert another SIM card if you have an old Safaricom SIM (black or green) with no ‘Safaricom’ item in the menu. If you have a new SIM card (deep green), registration will take effect immediately.
- The Agent then copies your SIM card contacts to the new SIM before any replacement.
Step 2: Register as a new M-PESA Customer
- Sign up for M-PESA FREE: You will be asked to provide the Agent with your Safaricom mobile number, name and surname, date of birth, and original ID proof.
- To register for M-PESA, you will need to submit one of the following identification documents: Kenya National ID, Passport, Military ID, and Diplomatic ID.
- You need to attach a copy of your ID proof to your registration form * if you will receive more than Ksh 100,000 into your M-PESA account for each calendar year (January – December).
Step 3: Activate Your M-PESA Account
M-PESA will send you an SMS with the Agent confirming that the registration has been successful. Activate your M-PESA menu in your account using the first 4-digit key sent to you by M-PESA as follows:
- Go to the Safaricom menu and select M-PESA
- Select ‘Activate’ or ‘Search’
- Enter ‘Start Key’ (four-digit number received from M-PESA)
- Create a new PIN (your favorite 4-digit number will be your PIN)
- Confirm the PIN by just entering the 4-digit number.
- Enter your ID (same as the one entered by the Agent while registering)
- M-PESA will send a ‘Secret Code’; press OK to find out.
If in case you failed to receive the first key when you register or accidentally delete your Start Key SMS:
- Either Call line 234 or go to any Safaricom Store and ask for a new first key.
- The new first key will be sent to you via SMS on your mobile.
- Activate your M-PESA account as per the above instructions.
Maximum Amount Customer Can Transact Daily Maximum Amount Customer Can Hold in M- PESA
300,000 300,000
FAQ’s Related to M-Pesa
- What is the minimum amount to withdraw using M-Pesa?The minimum withdrawal amount from Mpesa is Ksh.50.
- What is the maximum amount to withdraw via M-Pesa?
The amount you can withdraw from Mpesa is Ksh. 300,000. However, you will have to double to subtract that amount as the daily transaction limit is Ksh. 150,000 - What is the new daily trading limit for Mpesa?
Maximum daily transaction value in KSHs. 300,000. The height of each transaction is KSHs. 150,000. You cannot withdraw less than KSHs.50 from an M-PESA store. - How do I get my 6-month voucher statement?
Simply dial * 234 # from your mobile phone to access the menu, Select ‘My M-PESA Information,’ then ‘M-PESA Statement’ or Click M-PESA Statement at the bottom of the M-PESA landing page at -MySafaricom App - How do I start as an M-Pesa agent?To use the M-PESA store as an agent, you need to have a limited company registered with the business for at least six months and have at least three places ready to offer MPESA services. The minimum investment in the MPESA store is Ksh. 100,000.
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