Money Transfer Charges From Equitel To Mpesa

(Last Updated On: August 20, 2015)

11918950_727054804106815_219460219137528235_n

Equitel is the latest mobile money product to set foot in the Kenyan market. The product of Equity Bank allows you to send money to any bank account, Mpesa, Airtel Money or Orange Money account.

Mpesa is the most popular, so let us look at the charges. When sending money from Equitel to Mpesa you experience two charges. One is from Equitel and the other from Safaricom. Equitel will charge you 1% of the transaction value up to a maximum charge of Ksh27.5, Safaricom will charge you a termination fee which varies on the amount sent. Safaricom increased this charge from the previous fixed amount of Ksh33 since it became cheaper to send large amounts from Equitel to Mpesa than Mpesa to Mpesa. The higher the value of your transaction the more you pay to Safaricom. Here are some of the rates charged from examples of various amounts sent from Equitel to Mpesa

AmountEquitel to MpesaOld Equitel to MpesaMpesa to Mpesa
1500444825
2000665340
30008860.555
700011060.575
1000012160.585

The price increase was also to prevent Equitel from penetrating into the market of Mpesa.