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How much every Bank charges to move cash to M-Pesa in 2023

Starting January 2023, Kenyan Banks will charge customers a fee (plus excise duty of 20%) when moving funds from their bank to M-Pesa and Airtel Money mobile money wallets. Mobile Money wallets will also charge fees when moving cash from the wallets to bank accounts. That means the zero-rated transfer of cash we’ve enjoyed is going away. 2023 is gearing to be an expensive year.

It seems different banks will charge different fees. We’d expected a standard fee, but from the different tweets and social media posts we are seeing, that will not be the case. It’s also not clear whether or not the different rates we’ve seen announced include the 20% excise fee (or if the excise fee is charged on the amount you actually transact, making it vary with each transaction).

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We already covered the transaction charges you can expect from NCBA Bank here. In this article we are going to try and compile every single bank who’ve shared their costs.

Let’s go:

KCB Bank transfer to M-Pesa Charges:

These have been updated based on new information shared by KCB online.

AMOUNT TRANSACTEDBANK TO MOBILE MONEY CHARGES
1 – 1000
101 – 50011.20
501 – 1,00013.60
1,001 – 1,50016
1,501 – 2,50026
2,501 – 3,50038
3,501 – 5,00050
5,001 – 7,50064
7,501 – 20,00076
20,000 – 150,00078

Family Bank transfer to M-Pesa and Airtel Money Charges:

Family bank have an extra row of between KES 15,000 to KES 20,000, and between KES 20,000 to KES 150,000. This is unlike other banks.

AMOUNT TRANSACTEDBANK TO M-PESA CHARGESBANK TO AIRTEL MONEY CHARGES
1 – 10000
101 – 5001011
501 – 1,0001213
1,001 – 1,5001420
1,501 – 2,5002325
2,501 – 3,5003335
3,501 – 5,0004345
5,001 – 7,5005555
7,501 – 10,0005555
10,001 – 15,0006565
15,001 – 20,0006565
20,001 – 150,0006765

Stanchart Bank transfer to Mobile Money Charges:

Standard Chartered and DTB have fairly similar charges.

AMOUNT TRANSACTEDBank to Mobile Money Charges
1 – 1000
101 – 50011
501 – 1,00015
1,001 – 1,50018
1,501 – 2,50025
2,501 – 3,50035
3,501 – 5,00047
5,001 – 7,50057
7,501 – 20,00067
20,000 – 150,00070

National Bank of Kenya transfer to M-Pesa and Airtel Money Charges:

National Bank have broken down the charges quite well showing that both the bank and the telco are benefiting from each transaction.

AMOUNT TRANSACTEDBANK TO M-PESA CHARGESBANK TO AIRTEL MONEY CHARGES
1 – 10000
101 – 5001011
501 – 1,0001213
1,001 – 1,5001420
1,501 – 2,5002325
2,501 – 3,5003335
3,501 – 5,0004345
5,001 – 7,5005555
7,501 – 20,0006060
20,000 – 150,0006765

Equity Bank transfer to M-Pesa Charges:

Equity has made it clear that these charges are exclusive of government taxes. Which means the charges could be higher.

AMOUNT TRANSACTEDBANK TO M-PESA CHARGESBANK TO AIRTEL MONEY CHARGES
1 – 10000
101 – 5001011
501 – 1,0001213
1,001 – 1,5001420
1,501 – 2,5002325
2,501 – 3,5003335
3,501 – 5,0004345
5,001 – 7,5005555
7,501 – 20,0006565
20,000 – 150,0006765

Diamond Trust Bank transfer to M-Pesa cost:

Here are the DTB charges:

AMOUNT TRANSACTEDBank to Mobile Money Charges
1 – 1000
101 – 50011
501 – 1,00015
1,001 – 1,50018
1,501 – 2,50025
2,501 – 3,50035
3,501 – 5,00047
5,001 – 7,50057
7,501 – 20,00067
20,000 – 150,00070

NCBA Bank transfer to M-Pesa cost:

It isn’t clear if these will be the same charges for people using NCBA Loop accounts.

AMOUNT TRANSACTEDBANK TO M-PESA CHARGESBANK TO AIRTEL MONEY CHARGES
1 – 10000
101 – 5001011
501 – 1,0001218
1,001 – 1,5001420
1,501 – 2,5002325
2,501 – 3,5003335
3,501 – 5,0004345
5,001 – 7,5005555
7,501 – 20,0006565
20,000 – 150,0006765

Stanbic Bank Charges to M-Pesa:

These charges are also not inclusive of the 20% excise duty:

AMOUNT TRANSACTEDBANK TO MOBILE MONEY CHARGES
1 – 1000
101 – 50011
501 – 1,00015
1,001 – 1,50018
1,501 – 2,50025
2,501 – 3,50035
3,501 – 5,00047
5,001 – 7,50057
7,501 – 20,00067
20,000 – 150,00070

I&M Bank charges to mobile money:

Update: I&M Bank has waived all charges to M-Pesa and Airtel Money.

Here are the fees you will pay (excluding excise duty) when transferring cash from your I&M bank to mobile money:

Transaction AmountCharges to Mobile Money
1 – 1000
101 – 50010
501 – 1,00012
1,001 – 1,50014
1,501 – 2,50023
2,501 – 3,50033
3,501 – 5,00043
5,001 – 7,50055
7,501 – 20,00065
20,001 – 150,00065

Cooperative Bank transfer to M-Pesa charges:

This bank has apparently been charging customers for M-Pesa transfers all along. So the rates might only now be a little cheaper, or perhaps the same. (Update: the bank has shared information on the new rates, exclusive of the 20% excise duty)

Amount Charges to Mobile Money
0 – 1000
101 – 50020
501 – 2,50024
2,501 – 7,50028
7,501 – 20,00036
20,001 – 30,00040
30,001 – 70,00050

Absa Bank charges to send to M-Pesa:

It’s not yet clear what Absa will charge, as they’re only replying to tweets of asked amounts. They’ve not shared a full breakdown. Based on the tweets, this is what we have:

AmountCharges to Mobile Money
1 – 1000
101 – 50011
501 – 1,00015
1,001 – 1,50018
1,501 – 2,50025
2,501 – 3,50035
3,501 – 5,00047
5,001 – 7,50057
7,501 – 20,00067
20,001 – 150,00070

Other banks:

Please share down below, or through socials, what your respective banks will be charging. Remember these take effect from midnight.


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Techish focuses mostly on opinions on Tech, Business, Entrepreneurship and Startups. Reach out to us at any time mail@tech-ish.com if you have anything you want to have featured on the site.

15 Comments

  1. Hi. Yes, Coop has been charging as all through for sending Money from Bank to Mpesa. But I have just discovered they are also charging us to Deposit money to the Coop Bank Accounts. 8k they charge 46bob, 22k charging 65 bob…. Please let me know the banks that are not charging to deposit money using Paybill to the Bank Account

  2. Nice information.It would be great to have a conclusion of which bank is thus a better bet to save some bucks if someone wants to synthesize all the information written.

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