M-PESA Global is a game-changer for Kenyans sending money internationally. It offers a secure and convenient way to make online payments to international websites using a virtual Visa card linked to your M-PESA wallet. But before you jump in, it’s crucial to understand the associated charges.
Here’s a Breakdown of the Main M-PESA Global Charges to Consider:
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Transaction Fee: This fee varies depending on the amount you’re sending. There’s a minimum fee of KES 100 (approx. USD 0.90) for transactions up to KES 5,000 (approx. USD 45.50) and KES 500 (approx. USD 4.55) for sending above KES 35,000 (approx. USD 323.50) [source: Standard Media].
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Foreign Exchange Rate: When making international payments, M-PESA applies a foreign exchange rate markup. This means the exchange rate you see might be slightly different from the interbank rate. Be sure to check the prevailing rate within the M-PESA app or Safaricom website before making your transaction.
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M-PESA GlobalPay Charge: There’s a separate charge of 3.5% levied on the transaction value for any online purchases made using your M-PESA GlobalPay virtual card. This fee covers the cost of processing the international transaction.
Remember: These are the main charges, but it’s always a good practice to double-check the latest fee structure on the official Safaricom website before making a transaction.
Check also: Mpesa Global Pay USSD
