Learn how to deposit cash from M-PESA to KCB in Kenya 2023

KCB Financial institution Kenya Restricted, licensed by the Central Financial institution of Kenya, is a financial institution based mostly within the Kenyan capital, Nairobi. M-PESA is a cell banking service that allows customers to avoid wasting and switch funds from their cell units. M-PESA was first launched in Kenya to offer its residents with an alternate technique of getting access to banking providers. And if you happen to’re Kenyan, it’s extremely possible that you’ve got an account with one or each establishments. Due to this fact, it’s possible you’ll need to discover ways to deposit cash from M-PESA to KCB in Kenya and vice versa.

Learn how to withdraw cash from KCB and deposit it to M-PESA account

Here’s a step-by-step technique of deposit cash out of your KCB account to your M-PESA account.

Dial *522# in your cellphone and enter your M-Benki PIN to start the transaction.

From the drop-down menu, select “MyKash,” after which “M-Pesa.”

Enter the quantity you want to ship, as much as fifty Kenyan shillings (KSh). The whole value of your transaction will probably be proven, alongside the quantity you want to ship.

Should you’re positive all the pieces is so as, settle for and finalise the immediate.

You may be notified of the deposit in your M-PESA account through SMS.

Learn how to deposit cash from M-PESA to KCB

Transferring cash from M-PESA to a KCB account is kind of easy and right here’s how:

First, go to your M-PESA menu.

Select “Lipa na Mpesa”.

Enter the PayBill quantity – 522522

Afterwards, kind within the KCB account variety of the recipient.

Enter the quantity you want to ship, then enter your M-PESA PIN and make sure to ship cash.

The fees for transferring cash between KCB and M-PESA

KCB doesn’t impose any charges on clients who make deposits by M-PESA. Nonetheless, transferring cash from an M-PESA account to KCB has prices hooked up. The charges related to utilizing M-PESA are listed beneath:

Any charges related to utilizing USSD to connect with KCB Mobi Financial institution are the accountability of the cell service supplier. Should you use M-PESA, you’ll be billed 2 Kenyan Shillings.
Stability inquiry prices 33 Kshs.
Requesting a mini assertion prices 33 Kshs.
Checking international change charges is free.
Transferring cash from a KCB account to M-PESA prices 55 Kshs.
Shopping for airtime for your self or another person is free
Curiosity on Mobi Loans and Kopa Invoice Loans is 6% every year.
Paycheck advances carry a month-to-month rate of interest of 8%.

Notice: There’s a hack by which you’ll be able to deposit cash to a KCB account from M-PESA with out paying the transaction prices and right here’s how:

Merely open a KCB M-Benki account, which is actually opening a KCB account by M-Pesa.

Learn how to Open a KCB M-BENKI By way of M-Pesa

First, go to the M-PESA menu

Select Lipa na M-PESA

Choose Paybill and enter Paybill quantity 522522

Underneath account, kind “ID” and with out spacing enter your Nationwide ID Quantity e.g ID987654321.

Enter the quantity you want to deposit, after which enter your M-PESA PIN.

You’ll get two SMS, one along with your KCB M-BENKI Account quantity, and the opposite along with your non permanent PIN.
Congratulations, you’re all set to make transfers with out transaction prices!