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Safaricom new mpesa charges.

Just weeks after the Government announced it was going to raise the excise tax on mobile money transfer service from 10% to 12%, Safaricom have finally adjusted their M-pesa transaction charges to meet this demand.

Mpesa new rates.
The new rates, which take effect from 1/07/2018, will see various transaction costs increase by between ksh.1 to ksh.5 per transaction. For example, initially it would cost Ksh. 27 to withdraw money between ksh.101 up to 2500 from an M-pesa Agent, but it will now cost Ksh. 28 to carry the same transaction.
You can check the new M-pesa charges shown below:
Amount.        Withdrawal    Transfer
 1-49                       N/A.           Free
50-100                    10.              Free
101-500                  27               11
501-1000                28               15
1001-1500              28               26
1501-2500              28               41
2501-3500              50               56
3501-5000              67               61
5001-7500               84              77
7501-10000             112.           87
10001-15000          162.            97
15001-20000          180           102
20001-35000          191           105
35001-50000          270           105
50001-70000          300           105

From the table it is also clear that it costs more to withdraw M-pesa that to send the same amount to a registered mpesa line.
(You can compare these rates with those of Telkom T kash.)

 What you also need to know.
The maximum amount of money you can have in your M-pesa account at any one given time is Ksh.100,000
You can send up to a maximum of Ksh.70,000 per transaction with a maximum of Ksh. 140,000 per day.
To deposit money to your M-pesa line, you are required to be physically present with your I'd and phone. You are also not allowed to deposit money directly to another line.
For those who were used to sending money in bundles of not more than 100 several times to avoid being charged the sending fee, you will no longer be that lucky since you are now only given up to a maximum of three free transactions when sending money less than Ksh. 100. Thereafter you will be charged ksh. 1 for money less than 49 and ksh. 2 for money between 50 and 100.

How to reverse Money send To Wrong Number.
From late last year, safaricom introduced a service through which you can immediately effect an M-pesa reversal in case you send money to a wrong number. To do so, just send the Confirmation SMS to 456 and Safaricom will hold the money for a period of 2 hours wile contacting the recipient. Thereafter you will be informed that the reversal has been effected and the money rewired to your account.
 The Government said that the money that will be realized through these taxes will go towards providing Universal Health Care which is one of the Big Four. Although some telecom operators in Kenya felt that this move to raise the taxes would negatively affect thos who rely on services like M-pesa not only to transfer money but also use it as a form of money banking, Safaricom seems to have responded quickly to try and reduce any negative feelings by introducing a promotion known as Maisha Ni M-PESA Tu promotion which you can get the details

Please let me know your take on the changes on the comments section below.


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