Top banks urge CBK to reinstate M-Pesa fees

Kenya’s top banks have renewed push for the regulator to reinstate charges on transfers of money between bank accounts and mobile money wallets, citing heavy investments in digital technology to keep pace with growing transactions.
KCB , Equity and Absa reckon the waiver of fees on bank-to-mobile phone transactions triggered an increase in transactions as dominant micro and small-sized businesses embraced the digital channels.
The lenders used to charge between Sh30 to Sh197 before the waivers were introduced in mid-March 2020 to contain the spread of the Covid-19 virus.

As if the multi-billion shilling profits they reported last week weren’t enough, the big banks want to screw us further.

This is evil, kama ni hivyo basi I think MPesa should be declared as a bank and yanked off Sufferingcom. Let’s see if NCBA would agree to that.


Mpesa transaction fees are atrocious, times I wonder just who exactly @sani is. The man has credible knowledge on how vicious owners of capital are.

Njoroge will be on our side.

Na nilikuwa nadhania Ekwete doesn’t charge me anything for bank to mpesa because they appreciate me as a customer, kumbe ni thirikari iliamuru.

lets boycott the parasitic owners of capital. karl max style

Even purchasing airtime from these bank wallets is a nightmare.

They charge an annual fee on the ATM card

Technology should make transfers cheaper or non-existent

Hiyo ata sina shida nayo. 240 bob per year ni kama 20 bob per month. Niliona watu wakipiga kelele nikashindwa kwani Equity customers ni peasants kiasi gani? Compared to kina Coop Bank, KCB, ABSA, na NCBA, Equity is still significantly cheaper.