Absa Welcomes PesaLink Fee Reduction to Boost Real-Time Bank Transfers in Kenya
Absa Bank Kenya backs a new PesaLink pricing model cutting transfer fees to as low as KSh20 and making transactions below KSh1,000 free, in a push to drive real-time bank-to-bank digital payments adoption...
✨ Key Highlights
Absa Bank Kenya has welcomed a new industry-wide initiative by the Kenya Bankers Association to reduce PesaLink transaction fees, aiming to boost real-time, bank-to-bank digital payments across Kenya.
- Transaction charges for PesaLink transfers between KSh1,001 and KSh999,999 are now as low as KSh20, with transfers below KSh1,000 being free.
- The initiative, spearheaded by the Kenya Bankers Association, aims to promote digital payments and encourage formal banking channel usage.
- Absa Bank Kenya Consumer Banking Director Moses Muthui highlighted the commitment to making banking simpler, more affordable, and accessible, emphasizing that cost should not be a barrier to digital financial services.
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