Is It Free to Send Money From Mpesa to Kcb Account

**Transaction Initiation via M-Pesa to KCB Account**

Mobile money transfer from M-Pesa to a KCB account can incur charges depending on the transaction amount and the time of day.

* **Real-Time Transfer:**
– Charges apply for all transactions during normal banking hours (8 am to 4:30 pm).
– Charges are tiered based on the transaction amount.

* **Scheduled Transfer:**
– No charges apply for transactions scheduled outside normal banking hours (4:30 pm to 8 am).
– However, a flat fee applies for scheduled transactions during normal banking hours.

The specific charges for each transaction tier and the flat fee for scheduled transactions during banking hours can be found on the respective financial institution websites (M-Pesa and KCB) or can be obtained by contacting their customer support lines.

It’s important to note that these charges may change over time, so it’s recommended to check with the financial institutions for the most up-to-date information before making a transfer.

M-PESA to KCB Transfer Simplified

Sending money from M-PESA to a KCB account is a convenient and widely used service in Kenya. While the process is generally straightforward, it’s important to be aware of the associated charges to avoid any surprises. This guide will provide a comprehensive overview of M-PESA to KCB transfer charges, ensuring that you make informed decisions when initiating transactions.

M-PESA to KCB Transfer Charges

The transfer charges between M-PESA and KCB are determined based on the amount being transferred. The charges are tiered, with higher transfer amounts attracting higher fees. Here’s a breakdown of the charges:

  • Transfers up to Ksh. 1,000: Free
  • Transfers from Ksh. 1,001 to Ksh. 5,000: Ksh. 12
  • Transfers from Ksh. 5,001 to Ksh. 10,000: Ksh. 20
  • Transfers from Ksh. 10,001 to Ksh. 50,000: Ksh. 30
  • Transfers from Ksh. 50,001 to Ksh. 100,000: Ksh. 45
  • Transfers exceeding Ksh. 100,000: Ksh. 70

It’s important to note that these charges are subject to change, so it’s always advisable to confirm the applicable fees before initiating a transfer. You can do this by dialing *150# on your Safaricom line and selecting the “M-PESA” option, followed by the “Send Money” option.

Additional Costs

In addition to the transfer charges, there may be additional costs associated with the transaction:

  • KCB may charge an account maintenance fee, which varies depending on the type of account you have.
  • If you’re transferring money from an M-PESA agent or business, there may be an additional convenience fee charged by the agent.

Table of Charges

For a quick reference, here’s a table summarizing the M-PESA to KCB transfer charges:

Transfer Amount (Ksh.)Transfer Charge (Ksh.)
0 – 1,000Free
1,001 – 5,00012
5,001 – 10,00020
10,001 – 50,00030
50,001 – 100,00045

By understanding the M-PESA to KCB transfer charges, you can make informed decisions when sending money, ensuring that you’re aware of the associated costs and avoiding any unpleasant surprises.

Limits for M-PESA to KCB Transactions

The limits for M-PESA to KCB transactions vary depending on the transaction type and the customer’s M-PESA account level.

  • Registered M-PESA Customers:
    • Daily transaction limit: Ksh 140,000
    • Weekly transaction limit: Ksh 300,000
    • Monthly transaction limit: Ksh 1,000,000
  • Unregistered M-PESA Customers:
    • Daily transaction limit: Ksh 70,000
    • Weekly transaction limit: Ksh 150,000
    • Monthly transaction limit: Ksh 300,000

Note that these limits apply to all M-PESA to KCB transactions, including:

  • Sending money from M-PESA to KCB account
  • Withdrawing money from KCB account to M-PESA
  • Transferring money from M-PESA to KCB M-PESA
Transaction TypeDaily LimitWeekly LimitMonthly Limit
Send money from M-PESA to KCB accountKsh 140,000Ksh 300,000Ksh 1,000,000
Withdraw money from KCB account to M-PESAKsh 140,000Ksh 300,000Ksh 1,000,000
Transfer money from M-PESA to KCB M-PESAKsh 140,000Ksh 300,000Ksh 1,000,000

Instantaneous vs. Timed Transfers

When sending money from M-Pesa to a KCB account, the transaction speed can vary depending on the transfer method selected. There are two main options available:

  • Instantaneous Transfer: This option allows you to send money instantly from M-Pesa to a KCB account. However, it comes with a transaction fee.
  • Timed Transfer: This option allows you to schedule a transfer for a specific time, and the funds will be transferred automatically at that time. Timed transfers are free of charge.

The table below summarizes the key differences between instantaneous and timed transfers:

Transfer MethodTransaction FeeTransfer Time
Instantaneous TransferYesImmediate
Timed TransferNoScheduled time

Fees for Sending Money from Mpesa to KCB Account

Transferring funds from Mpesa to a KCB account is not free. M-Pesa charges a transaction fee based on the amount being transferred. The fee structure is as follows:

Amount Transferred (Ksh)Transaction Fee (Ksh)
0 – 10025
101 – 50030
501 – 1,00035
1,001 – 5,00040
5,001 – 10,00050
10,001 – 20,00060
20,001 – 50,00075
50,001 – 100,000100
100,001 – 200,000150

Alternative Transfer Options

Apart from sending money directly from Mpesa to a KCB account, there are alternative transfer options that may be more convenient or cost-effective depending on the specific requirements. These include:

  • KCB M-Pesa: This service allows you to link your KCB account to your M-Pesa account, enabling you to transfer funds between the two without incurring any transaction fees.
  • Bank Transfer: You can transfer money from your Mpesa account to a KCB account using a bank transfer. This option is available via online banking or by visiting a KCB branch. Bank transfers may take longer to process and may involve additional fees charged by the bank.
  • Third-party Money Transfer Services: There are various third-party money transfer services that facilitate transfers between Mpesa and KCB accounts. These services may charge different fees depending on the amount being transferred and the provider used.

Well, there you have it, folks! You now know that sending money from Mpesa to KCB accounts is absolutely free. Go ahead and make those transactions as you need, without worrying about any extra charges. Thank you for reading, and be sure to check back with us for more informative articles on all things finance.