PesaLink has transformed the way Kenyans transfer money, offering a fast, secure, and efficient interbank transfer service. This platform, operated by Integrated Payment Services Limited (IPSL), allows customers to move funds across banks in real-time, 24/7, without the need for third-party services. For customers of the Kenya Women Microfinance Bank (KWFT), PesaLink is an essential tool for transferring money instantly and at affordable rates.
What is PesaLink?
PesaLink, launched in 2017, was designed to make interbank transfers easier and more convenient. Traditionally, moving money from one bank to another in Kenya involved delays, especially when conducted over the weekend or on public holidays. PesaLink eliminates these delays, enabling customers to send and receive money instantly at any time, even outside regular banking hours. The service supports transactions from as low as Ksh 10 to a maximum of Ksh 999,999, catering to both personal and business needs.
KWFT, one of Kenya’s largest and most respected microfinance banks, offers PesaLink to its customers as a cost-effective method of transferring money. Whether you’re sending small amounts for personal expenses or making larger payments, PesaLink ensures you can do so securely and in real-time.
KWFT PesaLink Charges
KWFT has structured its PesaLink charges to cater to a variety of transaction amounts. Below is a breakdown of the charges based on the amount transferred:
| Amount (Ksh) | Charges (Ksh) |
|---|---|
| 10 – 99 | 0 |
| 100 – 499 | 15 |
| 500 – 9,999 | 45 |
| 10,000 – 99,999 | 60 |
| 100,000 – 499,000 | 200 |
| 500,000 – 999,999 | 300 |
For small transactions between Ksh 10 and Ksh 99, KWFT customers enjoy zero charges, making it an excellent option for low-value payments. The fee structure remains affordable across higher amounts, offering competitive rates even for large transactions of up to Ksh 999,999.
How to Use PesaLink at KWFT
Customers can access the PesaLink service through several channels provided by KWFT, including:
- Mobile Banking App: KWFT’s mobile app allows users to quickly send money via PesaLink. This is a highly convenient option for customers who are frequently on the move.
- USSD Banking: KWFT’s USSD banking platform provides another easy way to initiate PesaLink transfers, especially for customers without internet access.
- Branch Services: For customers who prefer in-person assistance, KWFT’s extensive branch network offers support for making PesaLink transfers.
Advantages of Using PesaLink
PesaLink offers numerous benefits compared to traditional banking methods and other money transfer services:
- Instant Transfers: PesaLink allows money to be transferred from one bank account to another in real-time. This is especially useful when you need to make immediate payments, such as paying suppliers or settling bills.
- 24/7 Availability: With PesaLink, you can transfer funds at any time, even during weekends and public holidays, offering flexibility and convenience.
- Affordable Fees: The charges for using PesaLink at KWFT are competitive and significantly lower compared to other money transfer platforms, especially for high-value transactions.
- Security: PesaLink is a secure platform regulated by the Central Bank of Kenya (CBK) and operated by IPSL, ensuring that your transactions are safe.
How Does PesaLink Compare to Mobile Money Transfers?
While mobile money services like M-Pesa dominate Kenya’s money transfer space, PesaLink provides an alternative for those looking for lower transaction costs and higher transfer limits. With PesaLink, customers can transfer up to Ksh 999,999 in one transaction, which far exceeds the limits set by mobile money platforms. Additionally, the fees associated with larger transactions tend to be lower with PesaLink compared to mobile money, making it more suitable for businesses and high-value transactions.
Integrated Payment Services Limited (IPSL)
IPSL, the organization behind PesaLink, plays a crucial role in maintaining the system’s integrity and security. IPSL works with over 30 banks in Kenya, ensuring a robust and efficient interbank transfer network. Their role includes transaction monitoring, system updates, and ensuring compliance with CBK regulations.
KWFT Contact Information
If you encounter any challenges or have questions about using PesaLink through KWFT, you can reach out to KWFT’s customer care team:
- Phone: 0703 067700, 0730167700
- Email: info@kwftbank.com
For issues related to the PesaLink platform itself, you can also contact IPSL:
- Phone: 0709 485000, 020 2219520
- Email: info@ipsl.co.ke
PesaLink is a valuable service for KWFT customers who need to transfer money quickly and affordably between banks. Its real-time processing, round-the-clock availability, and competitive charges make it an ideal choice for both personal and business use. With KWFT’s strong focus on customer service and financial inclusivity, PesaLink enhances the bank’s offerings, giving clients more options to manage their finances efficiently.
