The Central Bank of Kenya( CBK) has Reintroduced the Bank to Mobile money Charges after it was abolished in 2020 due to Covid-19.
Many businesses have been taking advantage of this situation with banks and telcos be on the loose end of making losses.
The revised maximum charges for Transfer from Banks to Money wallets will be reduced by an average of of up to 61% and transfer charges for Mobile money to Banks will be reduced by an average of 47%
Tariffs for paybills that are used to collect and disburse funds by businesses and companies will be reduced by an everage of 50%.
The revised Charges for Banks to Mobile Money wallets funds transfer and Vice-versa will be announced by respective Banks and Telcos before 1st Jan 2023.
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