PesaLink is a popular money transfer service in Kenya that allows instant transactions between banks, making it easier for customers to transfer money securely and efficiently. Managed by Integrated Payment Services Limited (IPSL), PesaLink operates in collaboration with local banks, offering 24/7 service. Sidian Bank is one of the many Kenyan banks that have integrated PesaLink into their digital banking services, enabling real-time money transfers from as low as Ksh 10 to Ksh 999,999.
In this article, we will break down the transactional charges Sidian Bank imposes for PesaLink services, making it easier for customers to understand the cost of sending money to other banks.
Sidian Bank PesaLink Charges
Sidian Bank offers competitive and transparent PesaLink rates based on the amount you are transferring. Below is a breakdown of the charges for different transaction amounts:
| Amount (Ksh) | Charges (Ksh) |
|---|---|
| 10 – 1,000 | Free |
| 10,001 – 20,000 | 40 |
| 20,001 – 50,000 | 50 |
| 50,001 – 100,000 | 100 |
| 100,001 – 200,000 | 120 |
| 200,001 – 500,000 | 160 |
| 500,001 – 999,999 | 200 |
As you can see, for transactions of Ksh 10 – 1,000, Sidian Bank offers PesaLink services free of charge, making it highly convenient for small-value transactions. For amounts exceeding Ksh 1,000, the fees increase incrementally based on the transferred amount. The maximum charge is Ksh 200 for transactions between Ksh 500,001 and Ksh 999,999, which is still competitive compared to other money transfer services.
Advantages of Using PesaLink at Sidian Bank
- Real-time Transfers: With PesaLink, Sidian Bank customers can send money to other banks instantly, 24/7, including weekends and public holidays.
- Wide Transfer Range: PesaLink supports transfers as low as Ksh 10 and up to Ksh 999,999, making it versatile for both small and large transactions.
- Affordable Rates: PesaLink offers some of the most competitive rates for money transfers in Kenya. Small transactions (Ksh 10 – 1,000) are free, while larger transfers incur minimal charges.
- Secure and Convenient: The service provides a safe and efficient way to transfer funds without the need for intermediary services, reducing the risk of delays and fraud.
How to Use Sidian Bank PesaLink
You can access Sidian Bank’s PesaLink service through several digital platforms:
- Mobile Banking App: Sidian Bank’s mobile app allows you to transfer funds using PesaLink easily.
- USSD Code: You can dial *527# from your mobile phone to initiate a PesaLink transaction if you’re registered for Sidian Bank’s mobile banking service.
- Internet Banking: PesaLink transfers can also be done via Sidian Bank’s internet banking portal for convenience.
Why PesaLink is Preferred Over Other Transfer Services
- Direct Bank Transfers: PesaLink eliminates the need to go through third-party mobile money services when transferring money from one bank account to another, saving time and additional fees.
- Higher Transaction Limits: PesaLink allows users to transfer up to Ksh 999,999, much higher than the limits set by mobile money services such as M-Pesa.
- Real-time Settlements: Unlike traditional EFT or RTGS transfers, which may take a few hours or even days to settle, PesaLink processes transactions instantly.
Sidian Bank Contacts
For further inquiries regarding Sidian Bank PesaLink services or any other banking needs, you can reach out to Sidian Bank via the following contacts:
- Phone: 0711 058 000
IPSL Contacts
For any inquiries related to PesaLink, Integrated Payment Services Limited (IPSL) can be contacted using the following details:
- Phone: 0709 485 000, 020 221 9520
- Email: info@ipsl.co.ke
PesaLink has revolutionized money transfers in Kenya by making the process faster, cheaper, and more convenient. Sidian Bank offers an attractive PesaLink service with competitive charges that make it an excellent option for transferring money instantly across banks. Whether you are sending small amounts or handling large transactions, Sidian Bank PesaLink ensures that your funds are transferred safely and at minimal cost.
