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7 new initiatives CBK has announced to facilitate mobile money transfers
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The Central Bank of Kenya has announced seven emergenc measures to facilitate mobile money transfers as the country faces covid-19.
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In a statement issued on Monday, the CBK announced these measures listed below.
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- There will be no charge for mobile money transactions upto Ksh1,000
- The transaction limit for mobile money transfer is increased to Ksh150,000
- The daily limit for mobile money transactions is increased to Ksh300,000
- The mobile money wallet limit is increased to Ksh300,000
- The monthly total limit for mobile money transactions is eliminated
- The current limit for mobile money transaction for Ksh70,000 will apply for transaction up to Ksh150,000
- PSPs and commercial banks will eliminate charges for transfers between mobile money wallets and bank accounts
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