How much does it cost to send money from an Equity Bank account to Mpesa in 2024? If you’re looking to transfer funds from your Equity Bank account to Mpesa, it’s essential to understand the charges involved. Equity Bank, a Tier 1 financial institution, has over 190 branches across Kenya and serves a vast customer base of over 17.5 million individuals. As the largest bank in Kenya by customer base, Equity Bank offers convenient mobile banking services that enable customers to transfer money to Mpesa easily.
In this article, we’ll explore the costs of transferring money from an Equity Bank account to Mpesa, whether you use the USSD code or the Equity Mobile App.
How to Transfer Money from Equity Bank to Mpesa
To transfer money from your Equity Bank account to Mpesa, there are two main options:
- Dial *247#: Using the USSD code, you can follow the prompts to transfer money directly to your Mpesa account.
- Equity Mobile App: Alternatively, you can transfer money using the Equity Mobile App, which allows you to access various services such as account management, funds transfer, and more.
Both methods offer convenience, allowing you to send money anytime and from anywhere.
Equity to Mpesa Transfer Charges in 2024
Here is a breakdown of the Equity to Mpesa transfer charges, depending on the transaction amount:
| Transaction Range (Ksh) | Charges (Ksh) |
|---|---|
| 1 – 100 | 0 |
| 101 – 500 | 10 |
| 501 – 1,000 | 12 |
| 1,001 – 1,500 | 14 |
| 1,501 – 2,500 | 23 |
| 2,501 – 3,500 | 33 |
| 3,501 – 5,000 | 43 |
| 5,000 – 7,500 | 55 |
| 7,501 – 20,000 | 65 |
| 20,001 – 150,000 | 67 |
Key Points to Consider
- Free transfers for small amounts: Equity Bank does not charge for transfers between Ksh 1 and Ksh 100, making it ideal for those sending small amounts of money.
- Affordable charges for mid-range transfers: For transactions between Ksh 101 and Ksh 1,000, the fees range from Ksh 10 to Ksh 12, which is relatively low.
- Competitive rates for larger transfers: The charges for higher amounts, such as Ksh 20,001 to Ksh 150,000, remain competitive at Ksh 67.
How to Confirm Your Transfer
Once you have completed your transfer, whether via USSD code or the mobile app, you will receive confirmation messages from both Equity Bank and Mpesa. These messages will include transaction details, such as the amount transferred and the new balance.
Equity Bank Contact Information
Should you need further assistance with your Equity to Mpesa transfer, you can reach out to Equity Bank through the following channels:
- Phone: +254 763 000 000
- Email: info@equitybank.co.ke
Conclusion
Equity Bank’s transfer charges for sending money to Mpesa in 2024 are both affordable and transparent. Whether you’re transferring small amounts or large sums, Equity Bank offers a reliable and straightforward process for moving money to your Mpesa wallet. With easy access via the USSD code or the mobile app, banking with Equity continues to provide flexibility and convenience for millions of Kenyans.
