As Kenya’s digital banking and mobile payment ecosystem grows, the ease of transferring funds across financial institutions has significantly improved. For DIB Bank Kenya customers, transferring money from M-Pesa is quick, secure, and in line with Shariah-compliant banking practices.
This guide provides a step-by-step walkthrough for transferring money from M-Pesa to DIB Bank Kenya, key transaction limits, fees, and a closer look at DIB Bank’s commitment to innovative, Shariah-compliant financial solutions. Whether you’re transferring money to your DIB Bank account or making a payment to another person’s account, here’s everything you need to know.
About DIB Bank Kenya
DIB Bank Kenya Limited, established in 2014, is a fully-owned subsidiary of Dubai Islamic Bank PJSC, headquartered in the United Arab Emirates. As a pioneer in Islamic banking, Dubai Islamic Bank PJSC has built its reputation by integrating traditional Shariah values with the latest technological innovations. This modern approach to banking has allowed DIB Bank Kenya to offer diverse financial products that are compliant with Islamic principles.
DIB Bank Kenya operates branches in Nairobi and Mombasa, making it accessible for customers in these major Kenyan cities. With its commitment to customer satisfaction, DIB provides flexible, efficient services catering to both individual and business financial needs.
Step-by-Step Guide: Transferring Money from M-Pesa to DIB Bank Kenya
Step 1: Open the M-Pesa App or SIM Toolkit
- Navigate to the M-Pesa app on your smartphone or use the M-Pesa menu on your SIM toolkit.
- Select “Lipa na M-Pesa” from the menu options.
Step 2: Select Paybill
- Once you’re in the “Lipa na M-Pesa” section, select “Paybill.”
Step 3: Enter DIB Bank Kenya’s Paybill Number
- In the “Business Number” field, enter DIB Bank’s Paybill number: 342342.
Step 4: Input Your DIB Bank Account Number
- You’ll be prompted to enter the account number for your DIB Bank Kenya account.
- Enter the 15-digit account number to ensure accuracy. You can find this account number on your bank statement, mobile banking app, or by contacting your branch if unsure.
Step 5: Enter the Amount to Transfer
- Specify the amount you wish to transfer from M-Pesa to your DIB Bank account.
- The minimum transfer amount is Ksh 100, while the maximum is Ksh 70,000 per transaction. M-Pesa users can transfer up to Ksh 140,000 daily, subject to M-Pesa’s transaction limits.
Step 6: Confirm and Enter Your M-Pesa PIN
- Carefully review the transaction details and ensure all information is correct.
- Enter your M-Pesa PIN to authorize the transfer.
Step 7: Confirmation Messages
- After completing the transfer, you’ll receive an SMS notification from M-Pesa confirming the transaction.
- DIB Bank will also send a confirmation message indicating that your account has been credited. If you’re transferring money to another DIB Bank account holder, the recipient will receive an SMS with the reference details and sender information.
Key Transaction Limits and Fees
Transaction Limits:
- Minimum transfer: Ksh 100
- Maximum per transaction: Ksh 70,000
- Maximum daily limit: Ksh 140,000
Transaction Fees:
Standard M-Pesa Paybill charges apply when transferring money from M-Pesa to DIB Bank Kenya. These charges vary depending on the transaction amount, with fees typically ranging from Ksh 10 to Ksh 110. It’s advisable to check with M-Pesa for the latest transaction fees.
Advantages of Using M-Pesa to DIB Bank Kenya Transfers
Using M-Pesa to transfer funds to DIB Bank Kenya has several benefits, including:
- Convenience: Transfers can be completed from any location without the need to visit a bank branch.
- Speed: Funds are transferred almost instantly, allowing you to access them immediately.
- Secure Transactions: Both M-Pesa and DIB Bank prioritize security through encrypted transactions and PIN verification.
- 24/7 Access: M-Pesa operates 24/7, allowing you to transfer funds to your bank account anytime, including weekends and public holidays.
DIB Bank Kenya: Key Branches and Contact Information
Here’s a list of DIB Bank Kenya’s branches in Nairobi and Mombasa for those who may need in-person support:
- Head Office, Nairobi
- Location: Junction of Bunyala/Lower Hill Road, Upperhill, Nairobi.
- Contacts: 0709 913 000 / 020 513 1300
- Banda Street Branch, Nairobi
- Contact: 0709 913 143
- Eastleigh Branch, Nairobi
- Contact: 0709 913 514
- Sarit Centre, Westlands, Nairobi
- Contact: 0709 913 543
- Upper Hill Branch, Nairobi
- Contact: 0709 913 544
- Bondeni Branch, Mombasa
- Contact: 0709 913 523
- Moi Avenue Branch, Mombasa
- Contact: 0709 913 533
Frequently Asked Questions (FAQ)
Q1: Is M-Pesa to DIB Bank transfer instant?
Yes, transfers from M-Pesa to DIB Bank Kenya are processed instantly. You will receive a confirmation from both M-Pesa and DIB Bank upon completion of the transaction.
Q2: What should I do if I accidentally enter the wrong account number?
If you enter the wrong DIB Bank account number, the funds might be sent to an unintended account. Contact DIB Bank Kenya’s customer service immediately to assist with reversing the transaction, although successful reversals depend on DIB Bank’s policy and the status of the transferred funds.
Q3: Can I transfer money to another person’s DIB Bank account via M-Pesa?
Yes, M-Pesa allows you to transfer funds to another individual’s DIB Bank account. Simply enter their 15-digit DIB Bank account number in the account number field during the transaction process.
Q4: Are there any additional fees for receiving money in my DIB Bank account from M-Pesa?
DIB Bank does not charge additional fees for receiving funds via M-Pesa. However, standard M-Pesa Paybill charges apply when you send money.
Additional DIB Bank Services and Digital Innovations
In addition to M-Pesa integration, DIB Bank Kenya has been enhancing its digital services to cater to the needs of tech-savvy customers:
- Mobile Banking App: DIB Bank offers a mobile app for easy access to account information, fund transfers, bill payments, and transaction history. The app also provides additional security features, such as fingerprint authentication, for enhanced protection.
- Internet Banking: The DIB Bank Kenya online banking portal allows customers to manage their accounts, make transfers, and pay bills online. This platform is particularly beneficial for customers handling large transactions, as online banking offers higher transaction limits compared to mobile platforms.
- Bulk Payments for Businesses: DIB Bank supports businesses with bulk payment options, making it easier for corporate clients to pay suppliers, employees, and partners directly through the bank’s system.
- DIB Debit and Prepaid Cards: In line with Shariah-compliant banking principles, DIB Bank offers both debit and prepaid card options. Customers can use these cards for online transactions, international payments, and cash withdrawals at ATMs.
- Islamic Financing Products: DIB Bank Kenya provides Islamic finance solutions such as Murabaha (cost-plus financing) and Musharaka (partnership financing), which align with Shariah principles and avoid interest-based transactions.
Security Measures for Digital Transactions
DIB Bank Kenya has implemented several security measures to protect customer transactions:
- Two-Factor Authentication: Transactions through the mobile banking app and online banking require two-factor authentication (2FA), providing an extra layer of security.
- SMS and Email Alerts: Customers receive instant notifications via SMS and email for every transaction, ensuring they can track their account activity.
- Fraud Monitoring: DIB Bank has a dedicated team for monitoring suspicious activity and fraud detection. The bank encourages customers to report any unauthorized transactions immediately.
- Secure Login Options: The mobile banking app offers biometric login options (fingerprint or facial recognition), allowing customers to securely access their accounts.
Tips for Secure Transactions with M-Pesa
- Confirm Account Details: Double-check your DIB Bank account number before initiating a transfer.
- Use a Strong M-Pesa PIN: Avoid using easily guessable numbers (like your birthdate) for your M-Pesa PIN.
- Keep Notifications Enabled: Always keep transaction notifications enabled for M-Pesa and DIB Bank so you can track account activity in real-time.
- Beware of Phishing Scams: Only communicate with official DIB Bank Kenya contacts if you encounter an issue, and avoid sharing personal information with unknown sources.
