The free bank-to-mobile wallet transaction era is now done and banks will now add fees to any bank-to-mobile transaction starting from Ksh 101. In this article, we highlight the new charges from National Bank to Mpesa/Airtel Money.
The charges were reinstated on the 1st of January 2023 after CBK waived the charges in March 2020 following the Covid-19 pandemic. The move was to promote a cashless mode of payment that was aimed at reducing the rate of infection.
Kenyans ended up adopting the process and a huge number have been enjoying these services at zero cost. However, despite the services being so good banks haven’t been making a profit as they are supposed to.
National Bank being of the biggest financial institutions in Kenya, has adopted the directives of the Central Bank of Kenya and it has informed its esteemed customers that the bank has already reinstated the bank-to-mobile transaction charges.
However, despite CBK announcing the reinstatement of the fees it didn’t actually give directives on the cost of each transaction. But since different banks have different policies, the charges are different depending on the bank. Others have increased the previous charges while others have increased the charges by a smaller margin.
National Bank to Mpesa Charges
Below are the charges for National Bank, from bank to mobile,
Amount in Ksh Charges in Ksh
1-100 0
101-500 10
501-1000 12
1001-1500 14
1501-2000 23
2501-3500 33
3501-5000 43
5001-7500 55
7501-20,000 60
20,001-150,000 67
National Bank to Airtel Money
Amount in Ksh Charges in Ksh
1-100 0
101-500 11
501-1000 13
1001-1500 20
1501-2000 25
2501-3500 35
3501-5000 45
5001-7500 55
7501-20,000 60
20,001-150,000 65
Please note, the above charges only apply to the National Bank to Mpesa/Airtel Money. In case you don’t have a National bank account and you wish to open one, the account opening process is very fast and you can use your mobile phone.
On your mobile phone, dial *625# and then follow the prompts to have an active account.
What Are the Benefits of having a National Bank Account?
- Access your bank account remotely, request a mini-statement, and view your balance anytime
- Easy fund transfer from bank to mobile
- Easy bill payments
- 5.5% interest on your account balance.
- Easy airtime purchase for all networks.
Read Also:
- How To Transfer Money From M-Pesa to Family Bank
- How to transfer money from M-Pesa to Equity Bank
- How To Transfer Money From Mpesa to I&M Bank Account.
- How To Transfer Money From Mpesa To Consolidated Bank