Court orders safaricom and Central Bank of Kenya to suspend mpesa-bank charges.

Since the COVID-19 pandemic people with mobile banking were able to transfer their money from mpesa to the bank without any charges.

Recently the Central Bank of Kenya re-introduced the mpesa-bank charges.

The court has ordered Safaricom and the Central Bank of Kenya (CBK) to suspend the reintroduction of bank-to-M-Pesa charges. Moses wafula,a resident in Nairobi filed charges challenging the charges.Justice Mugure Thande issued the order. In his petition, Wafula argued that the reintroduction of the charges infringed on his rights and those of other Kenyans.

"Banks and other financial institutions using the Paybill system are classified as Safaricom’s Mpesa Paybill primary clients," Wafula stated.

Commercial banks notified customers of the new charges that took effect on Sunday, January 1 2023.

From the current charges, Safaricom and Airtel are charging more to transfer money to banks than the withdrawal charges from banks to mobile wallets The maximum bank tariffs for sending KSh 20,000 to KSh 150,000 to mobile wallets are set at KSh 65 to KSh 81 Safaricom charges between KSh 87 and KSh 105 for sending KSh 30,000 to KSh 150,000 to a bank account

Content created and supplied by: Moraakim (via Opera News )