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Published
NAIROBI, Kenya, Dec 31- Any transfer of money from a bank account to mobile money wallets such MPesa, Airtel money or T-kash will from tomorrow attract a 20 per cent excise fee.
Various commercial banks have been sending text messages to their customers reminding them of the directive issued by the Central Bank of Kenya.
“Dear Customer, we would like to notify you that transactions from bank accounts to mobile money wallets will be charged effective 01/01/2023. This follows a Central Bank of Kenya (CBK) announcement on the reintroduction of significantly reduced charges,” read a text message sent by a bank.
The Partrick Njoroge-led regulator announced early in the year of its plans to return the charges which were suspended on March 16, 2020, three days after the Covid-19 pandemic was declared in the country.
According to CBK, transfers from bank accounts to mobile money will be reduced by up to 61 percent, and transactions from mobile money wallets to bank accounts will be lowered by up to 47 per cent.
Transactions for paybills will be halved by 50 per cent.
Charges for bank accounts to accounts to mobile money will also be reduced by 45 per cent.
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