Save Money While Using M-Pesa in Kenya

Now, everybody is talking about how life is getting harder in Kenya Oil, Flour ,electricity prices, name it….prices are all going up even at the slightest opportunity with vendors citing unbelievable explanations…well this article doesn’t solve your financial problems only helps you save a coin or two few especially when it comes to dealing with Mpesa.

MPESA Savings Table

WithdrawalAmount  Range Old WithdrawalFees New Withdrawal Fees Savings By-Pass Technique
5,001-7,500 75 70 5 You will normally be charged Ksh 75 for this transaction. To save:Make a 1stWithdrawal of Ksh 5,000, you will be charged 45.Make a 2nd Withdrawal ranging from 101-2,500, you will be charged Ksh 25.

This will give you a total of Ksh 70 in transactional fees.

10,001-12,500 145 100 45 You will normally be charged Ksh 145 for this transaction. To save:Make a 1stWithdrawal of Ksh 10,000, you will be charged 75.Make a 2nd Withdrawal ranging from 101-2,500, you will be charged Ksh 25.

This will give you a total of Ksh 100 in transactional fees.

12,501-15,000 145 120 25 You will normally be charged Ksh 75 for this transaction. To save:Make a 1stWithdrawal of Ksh 10,000, you will be charged 75.Make a 2nd Withdrawal ranging from 2,501-5,000, you will be charged Ksh 45.

This will give you a total of Ksh 120 in transactional fees.

35,001-37,500 250 195 55 You will normally be charged Ksh 250 for this transaction. To save:Make a 1stWithdrawal of Ksh 35,000, you will be charged 170.Make a 2nd Withdrawal ranging from 101-2,500, you will be charged Ksh 25.

This will give you a total of Ksh 195 in transactional fees.

37,501-40,000 250 215 35 You will normally be charged Ksh 170 for this transaction. To save:Make a 1stWithdrawal of Ksh 35,000, you will be charged 170.Make a 2nd Withdrawal ranging from 2,501-5,000, you will be charged Ksh 45.

This will give you a total of Ksh 215 in transactional fees.

50,001-52,500 300 275 25 You will normally be charged Ksh 300 for this transaction. To save:Make a 1stWithdrawal of Ksh 50,000, you will be charged 250.Make a 2nd Withdrawal ranging from 101-2,500 you will be charged Ksh 25.

This will give you a total of Ksh 275 in transactional fees.

Key

 

Old Withdrawal– this is the standard transaction charge for withdrawing money within the given range i.e. what it will cost you

New withdrawal Fees– this is the total fees you will be charged if you split the transaction.

Most of these transactions will require you split the transaction into 2 .Ranges not included are too expensive, you will have to withdraw once.

This techniques work with Mpesa withdrawals since M-pesa deposits are not charged and M-pesa Send Money transactions have a flat rate charge of Ksh 30 for amounts ranging from 101-35,000 and Ksh 60 for transfers of Ksh 35,001-70,000.However there is one way you can save Ksh 10 when sending money between Ksh 101-200.Normally you will be charged Ksh 30.To do this you will send the money in two splits. First you will send exactly Ksh 100, then the second transaction you will send the next (remaining) amount up to a maximum of Ksh 100.

Note: It costs Ksh 10 per transaction to send any amount ranging 50-100 that gives 20 for the two transactions.

Disclaimer: This revised tariff is in no way connected with Safaricom, just the views of a regular Mpesa user who feels like he should share some legitimate cost savings tips. Hey, by the way who thinks that Ksh 30 charged to send money is outrageously high…they should revise that too.

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