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Originally published by Capital Business
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business
July 30, 2025
2d ago

SBM Bank eyes lower money transfer fees after Pesalink deal

SBM Bank eyes lower money transfer fees after Pesalink deal

NAIROBI, Kenya, July 30 – SBM Bank Kenya will offer lower money transfer charges through its digital platforms following a partnership with Integrated Kenya breaking news | Kenya news today |..

✨ Key Highlights

SBM Bank Kenya has partnered with Integrated Payment Services Limited (IPSL), operator of Pesalink, to offer significantly lower money transfer fees through its digital platforms. This collaboration aims to make digital transactions more affordable and transparent for individuals and businesses.

  • Transfers between Sh1 and Sh1,000 will be free, while amounts from Sh1,001 to Sh999,999 will incur a flat fee of Sh20.
  • The initiative aligns with SBM Bank Kenya's strategy to become a "digital-first and customer-centric" payments bank, following a turnaround to a Sh202 million profit before tax in the six months to June 2025.
  • Pesalink processed over Sh1.1 trillion in transactions in 2024, averaging Sh135,236 per transfer, highlighting its importance in Kenya's real-time payments landscape.

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