How to Save Money on Mpesa Sending and Withdrawal Charges
Are you tired of paying Mpesa sending and withdrawal charges every time you use Mpesa to send or withdraw money? Do you want to know how to reduce Mpesa sending and withdrawal charges and save money in 2024? If yes, then this article is for you.
Mpesa is the most popular mobile money service in Kenya, with over 30 million active users and 200,000 agents. It allows you to send and receive money, pay bills, buy goods and services, and access other financial services using your mobile phone. However, using Mpesa also comes with Mpesa sending and withdrawal charges. Every time you send or withdraw money, you have to pay the well-known Mpesa sending and withdrawal charges, depending on the transaction amount and type. These Mpesa sending and withdrawal charges can add up quickly and into your savings, especially if you use Mpesa frequently.
But don’t worry, there are ways to reduce the Mpesa sending and withdrawal charges and save money in 2024. In this article, we will show you some tips and tricks on how to do that. We will also provide you with the latest Mpesa charges for 2024, so you can plan your transactions accordingly. Read on to find out more.
Table of Contents
Tips to Save Money on the Mpesa Sending and Withdrawal Charges
Here are tips you need to save on the Mpesa sending and withdrawal charges;
Tip #1: Use Mpesa Hakikisha to Confirm the Recipient Before Sending Money
One of the most common mistakes that Mpesa users make is sending money to the wrong number. This can happen due to various reasons, such as typing errors, network glitches, or fraudsters. When this happens, you not only lose the money you sent but also pay the Mpesa sending and withdrawal charges for the transaction. To avoid this, you should always use Mpesa Hakikisha to confirm the recipient before sending money.
Mpesa Hakikisha is a feature that allows you to verify the name and number of the person you are sending money to. It works by sending you a pop-up message with the details of the recipient and asking you to confirm if they are correct. If they are, you can proceed with the transaction by entering your PIN. If they are not, you can cancel the transaction by entering any number other than your PIN.
To leverage Mpesa Hakikisha to avoid Mpesa sending and withdrawal charges, you need to dial *234# and select option 1 (Hakikisha). You can also activate it permanently by dialing *234*5# and selecting option 2 (Activate). By using Mpesa Hakikisha, you can avoid sending money to the wrong number and save the Mpesa charges for the transaction.
Tip #2: Use Mpesa Self-Reversal to Reverse a Wrong Transaction
Sometimes, even after using Mpesa Hakikisha, you may still send money to the wrong number by mistake. This can happen if you enter the wrong PIN, or if the recipient changes their number after you confirm it. In such cases, you can use Mpesa Self-Reversal to reverse the transaction and get your money back.
Mpesa Self-Reversal is a feature that allows you to reverse a transaction within 24 hours, as long as the recipient has not withdrawn or used the money. It works by sending you a confirmation message with the details of the transaction and asking you to reply with the word “YES” if you want to reverse it. If you do, the transaction will be reversed and the money will be returned to your account, minus the Mpesa charges for the transaction.
To use Mpesa Self-Reversal, you must forward the confirmation message to 456 within 24 hours of the transaction. You can also dial 2345# and select option 9 (Transaction Reversal) to view your recent transactions and reverse them. By using Mpesa Self-Reversal, you can recover your money and save the Mpesa charges for the transaction.
Tip #3: Use Mpesa Fuliza to Avoid Insufficient Funds
Another common problem that Mpesa users face is having insufficient funds in their accounts to complete a transaction. This can happen due to various reasons, such as delayed payments, unexpected expenses, or emergencies. When this happens, you may have to borrow money from friends, family, or lenders, which can be costly and inconvenient. To avoid this, you can use Mpesa Fuliza to access an overdraft facility and complete your transaction.
Mpesa Fuliza is a service that allows you to borrow money from Safaricom and pay later when you top up your Mpesa account. It works by checking your credit score and giving you a limit on how much you can borrow. You can then use the borrowed money to pay for goods and services, send money to other Mpesa users, or withdraw cash from an agent. You will be charged a daily fee of 1.083% of the outstanding balance until you repay the loan.
To use Mpesa Fuliza, you need to dial 2340# and select option 1 (Fuliza Mpesa). You can also check your limit, balance, and statement by dialing the same number and selecting the relevant options. By using Mpesa Fuliza, you can avoid having insufficient funds and save the Mpesa charges for the transaction.
Mpesa Fuliza is a good way to reduce or cut the cost of Mpesa sending and withdrawal charges.
Mpesa Charges for 2024
Now that you know some tips and tricks on how to save money from Mpesa sending and withdrawal charges, you may also want to know how much the Mpesa sending and withdrawal charges are for 2024. The Mpesa charges vary depending on the transaction amount and type, and whether you are registered or unregistered. The Mpesa sending and withdrawal charges for 2024 are as follows:
Mpesa Sending Charges for 2024
The Mpesa sending charges for 2024 are the fees that you pay when you send money to another Mpesa user, whether registered or unregistered. The Mpesa sending charges for 2024 are:
| Transaction Range | Registered User | Unregistered User |
|---|---|---|
| 1 – 49 | Free | N/A |
| 50 – 100 | Free | N/A |
| 101 – 500 | 6 | 45 |
| 501 – 1000 | 12 | 49 |
| 1001 – 1500 | 22 | 59 |
| 1501 – 2500 | 32 | 74 |
| 2501 – 3500 | 51 | 112 |
| 3501 – 5000 | 55 | 135 |
| 5001 – 7500 | 75 | 166 |
| 7501 – 10000 | 87 | 205 |
| 10001 – 15000 | 97 | 265 |
| 15001 – 20000 | 102 | 288 |
| 20001 – 35000 | 105 | 309 |
| 35001 – 50000 | 105 | 309 |
| 50001 – 70000 | 105 | 309 |
Mpesa Withdrawal Charges for 2024
The Mpesa withdrawal charges for 2024 are the fees that you pay when you withdraw money from your Mpesa account, either at an agent or at an ATM. The Mpesa withdrawal charges for 2024 are:
| Transaction Range | Agent | ATM |
|---|---|---|
| 1 – 49 | N/A | N/A |
| 50 – 100 | 10 | N/A |
| 101 – 500 | 27 | 34 |
| 501 – 1000 | 28 | 34 |
| 1001 – 1500 | 28 | 34 |
| 1501 – 2500 | 28 | 34 |
| 2501 – 3500 | 50 | 67 |
| 3501 – 5000 | 67 | 67 |
| 5001 – 7500 | 84 | 112 |
| 7501 – 10000 | 112 | 112 |
| 10001 – 15000 | 162 | 197 |
| 15001 – 20000 | 180 | 197 |
| 20001 – 35000 | 191 | 275 |
| 35001 – 50000 | 270 | 275 |
| 50001 – 70000 | 300 | 330 |
Mpesa Lipa Na Mpesa Charges for 2024
The Mpesa Lipa Na Mpesa charges for 2024 are the fees that you pay when you pay for goods and services using your Mpesa account. The Mpesa Lipa Na Mpesa charges for 2024 are:
| Transaction Range | Customer | Merchant |
|---|---|---|
| 1 – 49 | Free | Free |
| 50 – 100 | Free | Free |
| 101 – 500 | Free | 1 |
| 501 – 1000 | Free | 1 |
| 1001 – 1500 | Free | 1 |
| 1501 – 2500 | Free | 1 |
| 2501 – 3500 | Free | 1 |
| 3501 – 5000 | Free | 1 |
| 5001 – 7500 | Free | 1 |
| 7501 – 10000 | Free | 1 |
| 10001 – 15000 | Free | 1 |
| 15001 – 20000 | Free | 1 |
| 20001 – 35000 | Free | 1 |
| 35001 – 50000 | Free | 1 |
| 50001 – 70000 | Free | 1 |
Mpesa Fuliza Charges for 2024
The Mpesa Fuliza charges for 2024 are the fees that you pay when you borrow money from Safaricom and pay later, using your Mpesa account. The Mpesa Fuliza charges for 2024 are:
| Transaction Range | Access Fee | Daily Fee |
|---|---|---|
| 1 – 100 | 0 | 1.083 |
| 101 – 500 | 0 | 1.083 |
| 501 – 1000 | 0 | 1.083 |
| 1001 – 1500 | 0 | 1.083 |
| 1501 – 2500 | 0 | 1.083 |
| 2501 – 3500 | 0 | 1.083 |
| 3501 – 5000 | 0 | 1.083 |
| 5001 – 7500 | 0 | 1.083 |
| 7501 – 10000 | 0 | 1.083 |
| 10001 – 15000 | 0 | 1.083 |
| 15001 – 20000 | 0 | 1.083 |
| 20001 – 35000 | 0 | 1.083 |
| 35001 – 50000 | 0 | 1.083 |
| 50001 – 70000 | 0 | 1.083 |
Mpesa Global Charges for 2024
The Mpesa Global charges for 2024 are the fees that you pay when you send or receive money internationally, using your Mpesa account. The Mpesa Global charges for 2024 depend on the destination country, the transaction amount, and the service provider. You can check the Mpesa Global charges for 2024 by dialing *334# and selecting option 5 (Mpesa Global), then option 8 (Tariff Query). You can also visit the Safaricom website or the Mpesa Global website for more information.
Conclusion
Mpesa is a convenient and secure way to send and receive money, pay bills, buy goods and services, and access other financial services using your mobile phone. However, using Mpesa also comes with a cost. Every time you send or withdraw money, you have to pay a certain amount of fee, depending on the transaction amount and type.
In this article, we have shown you some tips and tricks on how to save money on Mpesa charges and save money in 2024. We have also provided you with the latest Mpesa charges for 2024, so you can plan your transactions accordingly. By following these tips and tricks, you can reduce the Mpesa charges and save money in 2024.
We hope you found this article useful and informative. If you have any questions or comments, please feel free to share them with us. Thank you for reading and happy Mpesa-ing! 😊
