After the government increase in tax; highly controversial item in the 2018/2019 budget, Safaricom had tried its way to fight back the charges. Despite the tax increment, Safaricom introduced MPESA TU a service aimed at giving credit to its loyal customers throughout their M-PESA journey. However, despite that the network boss in Kenya resisting at first place, situations have just made them do the expected.
Safaricom has therefore released new M-PESA charges on transactions active as from July 1st2018. A note on their website notes “Pursuant to The Finance Bill 2018 and The Provisional Collection of Taxes and Duties Act; we have made the following adjustments to our M-PESA tariffs.
Majorly the increase of M-PESA charge on transfers ranges between Ksh 1 to Ksh 4.
Notably, the M-PESA Kadogo has been limited to a maximum of three transactions a day after which one will be charged a fee of Ksh 1 for any amount transfer below Ksh 50 and 2Ksh for cash transfer above 50 but less Ksh 100.
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Which initially one had the freedom to send an unlimited amount of cash for free on transactions below Ksh100. Surprisingly large transactions transfer charges have been cut. Transferring cash between Ksh 35,001 and Ksh 50,000 will cost Ksh 30 less.
Here’s a summary of the new M-PESA transfer charges effective July 1st.
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