Airtel Money, the mobile money services unit of Airtel, has revised its transfer and withdrawal transaction charges in Kenya. The new rates are effective from October 25, 2023. The revision of the transaction costs is a reflection of Airtel Money’s strive to offer its customers cost-effective solutions as they make transactions across the different bands.
Currently, sending money from Airtel to Airtel subscribers remains absolutely free of charge. Additionally, the withdrawal charges and cost of transferring money to other networks will remain significantly affordable compared to current market rates. Below are the revised transaction charges:
“We have reviewed our Airtel Money transaction fees to enable our customers to continue enjoying affordable prices while transacting through their mobile money wallets,” said Anne Kinuthia-Otieno, the MD of Airtel Money Kenya.
Airtel Money continues to expand its agent network across the country. Customers can access the services by dialing *334# or through My Airtel app and enjoy affordable transaction charges.
At the end June 2023, the number of mobile money subscriptions recorded a decline to stand at 38.0 million, representing a penetration level of 75.1 per cent. The trend has since normalized following a sharp peak in December 2022 that was attributed to the launch and subsequent high uptake of the Hustler Fund.