Have you reached your M-Pesa account limit or wondering how much can Mpesa hold?
Mpesa turns out to best mobile banking platform adopted by all countries where Safaricom has ventured. However, many do ask how many can Mpesa accounts hold? Well, this article will get to know all about that and give the latest update concerning Mpesa.
The limit Mpesa balance is the total allowed in your Mpesa account or can hold. The dramatic growth of Mpesa leaves all other mobile banking competitors in shock because since its launch each day is gaining new customers.
Without a doubt, Mpesa is the most famous mobile banking in Kenya and is received positively by other countries around the world.
Banks have also integrated Mpesa usage to their Bank systems because of today like the bank where you can quickly transfer money from a Bank account to Mpesa.
Other telecommunications have also launched their mobile money transfer systems, but none can catch up with Mpesa. Mpesa has dominated the money transfer in Kenya.
There are so many money transfers in Kenya, such as Western Union, but none of them can catch the speed of Mpesa.
Hence Mpesa is the best there is in Kenya when it comes to money transfer.
If you don’t know how much Mpesa can hold, don’t worry, read to find out!
Read also: How To Register M-Pesa Paybill Number.
How Much Can Mpesa Account Hold Currently
After you have registered for the Mpesa service, you can deposit a maximum of Ksh. 100,000 that is the maximum your Mpesa account can hold.
Safaricom has also set out a daily transaction limit of Ksh. 140,000, and a limit of Ksh 70,000 per transaction. It doesn’t mean Mpesa can hold Ksh. 140,000.
It also means the highest amount you can send to someone is Ksh. 70,000 and it’s the same highest amount you can withdraw is still 70,000 from any Mpesa shop outlet.
There is also a minimum amount, which is you cannot withdraw less than Khs50 at any M-PESA agent outlet
Safaricom allows you through Mpesa to carry out 20 transactions over 30 days.
The maximum amount you can transact over this period that sends a maximum of $5,000 (its Ksh. 500,000). The minimum amount which you can send using your Mpesa account is at Ksh 1.
Recommended reading: How To Activate Your KCB M-Pesa Loan Account.
What Must You Know Beyond The Minimum And Maximum M-Pesa Withdrawal Limits
It is also required that you keep your Mpesa account active to be able to operate your Mpesa account.
Remember, too; you cannot deposit money to someone else’s account at any Mpesa shop.
Mpesa can be defined simply as a system for mobile money transfer.
You can find this Safaricom Limited service on your phone or online on the MySafaricom App in the Safaricom menu.
Any Safaricom line holder is eligible to use Mpesa to send and receive funds as long as their line is registered, which also prompts your Mpesa account to be registered.
You can use Mpesa to store your money and get to withdraw any time you wish, as well as use the Mpesa account to get a loan.
More so, Lipa Na Mpesa has enabled Mpesa users to go shopping, pay bills, and pay for services conveniently.
Mpesa stands as the best option mobile banking platform.
The latest good news is that Safaricom is appealing to the Central Bank of Kenya to enable Mpesa users to hold more money in their accounts.
Related guide: Here Is How KCB M-Pesa Works.
How Much Can KCB Mpesa Hold
For KCB Transaction Account, the maximum amount of money your account can hold is Kshs 1,000,000 or as may be determined by the bank.
Yeah, that is how much money you can keep in your KCB M-Pesa transaction account.
However, you must provide the necessary documentation if you want to save above Kshs 250,000 in your KCB Mpesa Transactional Account.
Also, you can transfer up to Kshs 140,000 per day into your KCB M-Pesa transaction Account.