There is now an extremely straightforward method for sending money to loved ones anywhere in the world. Transfer funds quickly to an M-pesa e-wallet using mobile money. Everything you need to know about M-pesa mobile money and services can be found here. Learn everything you need to know about the service and how to use M-pesa to send money overseas!
M-pesa is a mobile money transfer and microfinance system developed by Safaricom and Vodacom, the two largest mobile phone operators in Kenya and Tanzania, and launched by Vodafone. M-pesa is used by over 5 million Tanzanians, making it the most dependable service in the country.
By 2010, M-pesa was the most successful mobile phone-based financial service in developing countries. In M-pesa Kenya, approximately 17 million accounts had been registered by 2012. For giving millions of people access to the “formal” financial system, the service has received praise. In societies that rely heavily on cash transactions, it has also contributed to a decrease in crime.
Since then, it has spread to Afghanistan, the DR Congo, South Africa, India, and Eastern Europe in 2014.
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Through a wide range of global partners, you can easily send or receive money instantly to or from your M-pesa wallet from more than 160 nations.
All the rates of M-pesa
The cost of sending money with an M-Pesa depends on how much money is being sent and where you live. Whether or not a user of the service is registered is different.
Depending on the number of users and the amounts, transaction fees range from 66% to 6%:
- To 66% of the transaction value for a transfer to an unregistered user.
- To 30% of the transaction value for a transfer to a register user.
- The lowest transfer charge is 0,16% to a registered user for 70,000 KSHs.
- The cost to withdraw money from an Mpesa agent is a maximum of 20% of the transaction amount and 0,47% minimum.
On Safaricom’s website, you can view the Mpesa sending charges chart and all transfer fees online or in PDF format.
How to send mobile money via M-pesa?
On an M-pesa wallet, you can send money abroad in a variety of ways. These differ based on the sending method and country of destination.
There is a maximum and a minimum amount that can be sent for each currency.
There are two options for moving money:
- By dialling *840# (download updated MySafaricom app version or update current one to access the service), accept terms and conditions to opt in, then select send money abroad
- MySafaricom app > Select M-pesa> Select M-pesa Global>Accept terms and conditions to opt in > Select Send
You won’t need to know the current exchange rate because it will be converted for you automatically and shown on the transaction confirmation.
Reach M-pesa customer care
Depending on the market in which you are a customer, you can contact M-pesa’s customer service by calling a different number. You can get in touch with customer service on each website.
For instance, if you are in Kenya, you can use your Safaricom line to call M-PESA Customer Service at number 234 If you’re outside the United States and using PrePay, dial +254 722 002 100. If you’re using PostPay, dial +254 722 002 200.