KCB Bank is one of the largest banks in Kenya, regulated by the Central Bank of Kenya (CBK), and with over 192 branches spread across the country. Mobile banking and Internet banking are among the services the bank offers to its customer base. In the published tariff guide, KCB has outlined various charges for transferring money to your M-Pesa or Airtel Money account through KCB’s mobile and online banking services.
Mobile banking services can be accessed through the KCB app, Vooma, or the USSD code *522#. You need to register for internet and mobile banking to access these services.
The bank’s services can also be accessed through registered agents available in major towns and busy marketplaces around the country.
KCB also offers various savings accounts targeting different customers to help them save while earning interest, so as to meet their financial targets.
KCB M-Pesa’s target account is one of these accounts, and you can open it through the M-Pesa menu on your mobile phone, whether it’s a smartphone or a kabambe phone.
That being said, let’s explore the mobile and internet banking charges for sending money to M-Pesa and other mobile money wallets in Kenya.
A KCB Kenya branch
KCB Mobile & Internet Banking Charges
Here are the revised charges for sending money to M-Pesa through mobile banking (app or *522#) and Internet banking. All the rates include the excise duty tax.
| Transfer Range (KSh) | Charges (KSh) |
|---|---|
| 1 – 100 | Free |
| 101 – 500 | 11.20 |
| 501 – 1,000 | 13.60 |
| 1,001 – 1,500 | 16 |
| 1,501 – 2,500 | 26 |
| 2,501 – 3,500 | 38 |
| 3,501 – 5,000 | 50 |
| 5,001 – 7,500 | 64 |
| 7,501 – 20,000 | 76 |
| 20,001 – 150,000 | 78 |
Airtel and KCB have a partnership that enables Airtel Money users to withdraw money from KCB to their mobile wallets free of charge. Similarly, depositing money to their KCB accounts using Airtel Money costs nothing.
Charges for Other KCB Mobile Banking Services
Balance and forex rates inquiry, airtime purchase, mini statements, loading KCB cards, and receiving Western Union are free of charge.
Purchasing M-Pesa Agent Float costs 63 shillings, while Kopa Float attracts a daily rate of 0.2%.
KCB Bill payments (like KPLC tokens & post paid, DStv, GOtv, Zuku, Nairobi Water), Lipa Karo, ATM withdrawal, Mobi Chama transfer, transfer money to another KCB account, insurance payment, and paying to Vooma pay bill cost 36 shillings.
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