Comparative Cost of Sending money in Kenya

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The recent announcement by Zain that it would be charging its customer Ksh.10 to send money in all networks is proof on how competitive money transfer business has become in Kenya. The mobile money transfer in Kenya has stolen the limelight from the traditional money transfer heavy weights like Posta, Western Union and MoneyGram. Here is comparative rates for sending money in Kenya (Domestic Rates)

MoneyGram Western Union
Domestic Send Fee Domestic Send? Fee
Send Amount (Ksh) Send Fee

(Ksh)

Send Amount (Ksh) Send Fee(Ksh)
From To Fro To
4,000 300 0 7,500 650
4,000 8,000 480 7501 15,000 1,000
8,000 16,000 550 15,001 22,500 1,200
16,000 31,000 700 22,501 30,000 1,400
31,000 47,000 1,200 30,001 37,500 2,200
47,000 62,000 1,800 37,501 45,000 2,500
62,000 78,000 3,510 45,001 52,500 2,700
78,000 93,000 4,185 52,501 60,000 3,000
93,000 116,000 5,000 60,001 77,700 4050
116,000 140,000 5,600 Revised Rates

  • Send up to Ksh.5,000 for Ksh.100
  • Send more than Ksh.5000 for 2% of the principal
140,000 194,000 7,760
194,000 388,000 11,640
388,000 582,000 17,460
582,000 777,000 23,310
Posta Pay M-PESA (Safaricom)
Domestic Send Fee Domestic Send Fee
Send Amount (Ksh) Send Fee

(Ksh)

Send? Amount (Ksh) Send Fee

(Ksh)

From To From To
1 1000 75 0 35,000 30
1,001 2,500 100
2,501 5,000 150 Zap (Zain)
5,001 10,000 300 Send money to any mobile network for only Ksh.10
10,001 25,000 650
25,001 50,000 1,200
50,001 75,000 1,500
75,001 100,000 2,500
  • For Zap, charges range from Sh20 for withdrawing between Sh50 and Sh2,500 to Sh140 for withdrawing Sh35,000. Customers of other mobile phone service providers are charged Sh30 extra when withdrawing.
  • M-Pesa charges Ksh.25 for withdrawals

Apart from the low charges offered by by the Zap and M-PESA, the penetration of these money transfer services is amazing. For example in Nairobi, a walk between two Western Union offices there are more than 10 M-pesa agents in between and considerable Zap agents too. Zain hinted recently that currently they have ? 4,000 Zap agents spread out in the country.

M-banking

It is getting even better, last month Wells Fargo announced the addition of a new customer-to-customer money transfer service to is mobile banking offering. In the light of what happened with G4S whereby a lot of money were stolen by the security agents transporting the money to the bank, i think it is high time the Government consider safer way of transferring money to the banks.

Read about how the process of transporting money to the banks inconveniences the pedestrians by Shiko_Msa and how the money transfer in Kenya has evolved by Bankelele

What is your opinion on the topic?
Kennedy Kachwanya
Lead Blogger at Kachwanya.com
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Kennedy Kachwanya is a technology blogger interested in mobile phones both smart and dumb, mobile apps, mobile money, social media, startups ecosystem and digital Savannah. New media must not forget the strength of old tech.
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