Well, well, well, it seems like the era of free transfers to mobile wallets in Kenya is coming to an end. Just when we thought we were catching a break from those pesky fees, the Central Bank of Kenya has decided to reinstate them. Starting January 2023, you’ll have to dig a little deeper into your pockets if you want to transfer money to your beloved mobile wallets like MPESA and Airtel Money.
Now, I know what you’re thinking. “Why, oh why, Central Bank, did you have to bring back those fees?” It’s like that unexpected bill that arrives just when you thought you had some extra cash to treat yourself. But hey, let’s try to see the bright side of things. Maybe this move will help the banks recover from the financial blows they took during the pandemic. After all, weaker profits are never a fun thing to deal with. And who knows, maybe they’ll use some of that money to invest in those nifty new banking technologies we keep hearing about.
But let’s get down to the nitty-gritty. Starting January 1, 2023, those transfers to mobile money wallets will no longer be a free ride. Nope, they’ll be subject to a fee. The NCBA Bank, always one to provide the details, has already laid out the specifics of these fees. So, make sure you’re up to date and plan accordingly when you’re sending money through your favorite mobile wallet.
Now, let’s not forget the context here. These fees were actually suspended during the COVID-19 pandemic to ease the burden on us Kenyans. It was like a little gift in the midst of all the chaos. But, alas, all good things must come to an end, it seems. The banks have requested the reinstatement of these fees, and the Central Bank has given them the green light. So, starting next year, we’ll have to adjust our expectations and budgets accordingly.
But hey, don’t let those fees dampen your mobile money spirit. MPESA and Airtel Money have been our trusty sidekicks for years, making our lives so much more convenient. And let’s be real, a little fee here and there won’t break the bank (pun intended). It’s like the price we pay for the convenience and security these mobile wallets provide.
So, my fellow Kenyans, let’s brace ourselves for the fee era. It’s not the most exciting news, but hey, we’ll adapt and keep on thriving. After all, we’ve faced tougher challenges, haven’t we? So, mark your calendars, January 1, 2023, is the day when those fees kick in. Until then, let’s enjoy our fee-free transfers while we still can. And who knows, maybe they’ll surprise us with some awesome new features to make up for it. Fingers crossed!
In the meantime, let’s keep embracing the wonders of mobile money and find joy in the little things. Like that feeling when you successfully transfer money with just a few taps on your phone. It’s like magic, my friends. Pure magic.
NCBA to MPESA and Airtel Money fees
|Tariffs (KES)||To M-PESA in KES||To Airtel Money in KES|