What Mpesa Hakuna Float Means

What Mpesa Hakuna Float Means

This guy sent me an email asking an interesting question that when he visits an Mpesa agent outlet to deposit money once in  a while the attendant tells him that “hakuna float” i.e. he doesn’t have float  to do the deposit. What does that exactly mean given he has the cash to do the deposit. The guy has an interesting observation there but let’s do an overview of how a deposit transaction occurs at an M-pesa Agent outlet: Basically an exchange occurs where an agent normally has a balance on his phone i.e the e-value separate from liquid cash, what happens is that he exchanges this phone value for your cash, so that you get the e-value for your phone and he gets your cash…sound simple? This is the exact opposite of an M-pesa withdrawal where the client exchanges his/her phone value for liquid cash. Now when an agent says that they don’t have enough float it is mainly due to 2 main reasons:-

  • The M-pesa agent has maxed out his phone value and needs offsetting withdrawals to increase the value of the e-float. This normally occurs when an agent does too many deposits without offsetting withdrawals.
  • The agent might be operating with little float to cover both deposit and withdrawal transactions.

In some circumstances, the agent might have float but not sufficient enough to cover your desired amount. You can do a deposit of the available float then use another agent to deposit the balance since you are not charged for M-Pesa deposits. ( Read More On Why Safaricom Mpesa Aggregated Lines Are The Best)

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