PesaLink is a revolutionary instant money transfer service in Kenya, operated by Integrated Payment Services Limited (IPSL), in collaboration with local banks. It enables seamless real-time transactions 24/7, allowing users to transfer funds directly from one bank account to another without the need for intermediaries like mobile money. Standard Chartered Bank Kenya, a long-established financial institution, offers PesaLink to its customers, ensuring they can move money between their Stanchart accounts and other local banks efficiently.
With PesaLink, Standard Chartered Bank customers can send as little as Ksh 10 and up to Ksh 999,999 per transaction, providing flexibility for both personal and business transactions. The service is highly convenient as it operates around the clock, making it a go-to solution for those who need to send money at any time of the day or night.
Standard Chartered Bank PesaLink Charges
Standard Chartered Bank’s PesaLink charges are structured based on the amount being transferred. Below is a breakdown of the fees:
| Transaction Amount Range | Charges (KES) |
|---|---|
| Ksh 10 – Ksh 500 | NIL |
| Ksh 501 – Ksh 10,000 | 40 |
| Ksh 10,001 – Ksh 50,000 | 80 |
| Ksh 50,001 – Ksh 100,000 | 120 |
| Ksh 100,001 – Ksh 200,000 | 160 |
| Ksh 200,001 – Ksh 500,000 | 200 |
| Ksh 500,001 – Ksh 999,999 | 250 |
Why PesaLink Stands Out
- Cost-Effectiveness: For small transactions (below Ksh 500), there are no charges, making it an affordable option for customers who need to transfer small amounts. For larger transactions, the charges are competitive compared to traditional banking channels or other payment services.
- Real-Time Transfers: PesaLink’s major advantage lies in its ability to process transactions in real-time. Unlike traditional bank transfers, which may take hours or even days, PesaLink ensures that funds reach the recipient immediately, regardless of the time of day.
- Wide Accessibility: Customers can access PesaLink through multiple banking channels such as mobile banking apps, USSD, ATMs, and internet banking. This flexibility makes it convenient for users, whether they are on the go or in a bank branch.
How to Use PesaLink with Standard Chartered Bank
To make a transfer via PesaLink using Standard Chartered Bank, follow these simple steps:
- Log into your Standard Chartered mobile banking app or internet banking platform.
- Select the PesaLink option from the payments menu.
- Choose whether to send money to a phone number or directly to a bank account.
- Enter the recipient’s details, including their phone number or account number, and choose their bank from the list of participating banks.
- Enter the amount you wish to send and confirm the details.
- Once the transaction is processed, you will receive an SMS confirmation.
PesaLink and Its Broader Impact on Kenya’s Banking Sector
PesaLink has been a game-changer in Kenya’s banking industry. Launched in 2017, it was designed to reduce dependency on mobile money transfer services and offer a more cost-effective, bank-centric solution for customers. The service is now supported by over 40 banks in Kenya, including major financial institutions such as Standard Chartered, KCB, Co-operative Bank, and Equity Bank.
In addition to being a reliable alternative to mobile money, PesaLink also aligns with the Central Bank of Kenya’s (CBK) goal to promote financial inclusion by reducing transfer costs and improving accessibility to digital financial services. The service has helped streamline inter-bank payments, contributing to the development of a more efficient and interconnected banking system in Kenya.
Contact Information
If you have any inquiries regarding PesaLink, you can reach out to Standard Chartered Bank or IPSL using the following contacts:
Standard Chartered Bank Contacts
- Phone: +254 20 329 3900, +254 703 093 900
Integrated Payments Service Limited (IPSL) Contacts
- Phone: 0709 485000, 020 2219520
- Email: info@ipsl.co.ke
PesaLink offers a unique, real-time bank-to-bank transfer service that complements Kenya’s growing digital financial landscape. Standard Chartered Bank’s transparent and affordable charges make it an attractive option for customers looking for quick, secure, and cost-efficient transactions. With competitive pricing, 24/7 availability, and the backing of trusted financial institutions, PesaLink is poised to remain a key player in the future of Kenya’s digital banking space.
