Kenyan Banks are charging different costs on their newly released PesaLink cash transfer service. It is as a result of a mixed move of attracting more customers and growing transaction-based income.
Pesa Link Tariffs that was reviewed by Business Daily shows that some Kenyan banks have low rates of KSh40 and below for sending amounts valuing up to Sh999,999. This shows that they see the Pesalink service as more of a value-add than an income stream. Some banks are charging highs of up to KSh200. This shows a bid to prevent loss of revenue from PesaLink, which is highly expected to eat into the usage of other payment options including cheques.
I&M PesaLink Charges
|I&M PESALINK CHARGES|
|PESALINK TRANSACTION AMOUNT AND CHANNEL||CHARGES|
|Receiving PesaLink funds from other Banks||Free|
|PesaLink Transfer of amounts between Kes 10-500||Free|
|PesaLink Transfer of amounts between Kes 501 -999,999(Through Branch and Mobile phone)||Kes 40|
NIC PesaLink Charges
|NIC PESALINK CHARGES|
|PesaLink Amount to transfer (KES)||CHARGES|
|501 – 10,000||50|
|10,001 – 50,000||100|
|50,001 – 100,000||120|
|500,001 – 999,999||200|