How to Transfer Money from Mpesa to KCB Account
In this article, I'll show you how to easily transfer money from M-Pesa to KCB Account. KCB strives to drive efficiency while increasing market share in order to be the preferred provider of financial solutions in Africa with global reach. To better understand how money transfers from Mpesa to KCB work, we must first understand what KCB is all about.
Before you begin, you must usually open an M-Benki account, which allows you to use the bank's mobile banking services. The primary goal of the bank in providing these services is to give their customers control over their funds and financial plans. Kenyan commercial banks can earn interest, make flexible loans, and transfer funds to other banks and mobile wallets using Mbenki.
M-Benki is a platform that allows users to check their bank balances, bank statements, and buy credit directly from their phones. The following are some of the things you can do with M-Benki:
- It is possible to transfer money to other KCB banks
- You can move your funds to banks other than KCB
- You can deposit and withdraw money from M-Pesa
- Regardless of the Netwok that you are using, you can easily buy airtime.
How to Open a KCB- M-Benki Account
- In case you are not a customer of KCB bank, then you will have to navigate to the M-Pesa menu on your smartphone toolkit
- You have to choose Payment services and then Pay bill. Put kcb pay bill number 522522 in when you will be asked to put a business number
- Once you have selected the account, you will have to enter "ID" followed by your ID number in the format ID23458767.
- Then you will be prompted to enter the amount that you desire to deposit
- Once you have completed it, you will have to enter your M-Pesa PIN so as to authorize the transaction
- You will receive a short message with your user ID and your personal identification number and the second one with come with your M-Benki number.
If you are an already existing client, then you can simply register for m-Banking at the nearest kcb bank.
How to send Money from M-Pesa to KCB Account
So let us get down to the main aim of this our article, which is all about how you can transfer money from Mpesa to KCB.
- You have to move to your M-Pesa Menu and then select 'Lipa na M-pesa'
- Enter 522522 as the paybill number
- You will have to enter the kcb account number that you are transferring money to and the amount
- And finally, if you want to send money, you will have to enter your M-Pesa PIN and confirm it.
How to Withdraw Money from KCB to M-Pesa Account
Now that you already know how short and simple it is to transfer your funds from Mpesa to KCB account, now let us try going the reverse way. Follow the outlined steps below in order to know how you can transfer your funds from KCB to M-Pesa.
- In order to begin with the transaction, you will have to dial *522# in your mobile phone and then enter your M-Benki PIN
- From the Pop up menu, you will have to select MyKash and then M-Pesa
- M-Pesa offers various options to send money, either to your phone or any other
- As you move on, enter any amount that you want to transfer as long as it less that 50 Kenyan shillings
- Once you enter an amount, the system will automatically display the cost of the transaction along with the amount that you entered
- And if you see that everything is OK, then you will have to accept and complete the transaction
- You will receive an SMS that shows the amount that you deposited into your account.
How to Open a KCB M-Benki via M-Pesa
- Move to the M-Pesa menu
- Choose Lipa na Mpesa
- Select Paybill and then enter 522522 as the Paybill number
- Under the account, you will have to type in ID and your national ID number without giving any gap
- Enter the amount that you have to deposit and your M-Pesa PIN
- Once its complete, you are going to receive 2 messages, one with your KCB- M-Benki account number and the other one with your temporary PIN which you can ow change and the put the PIN that suits you best
Charges when Sending Money from M-Pesa to KCB
For all the deposit that customers make via Mpesa to KCB, there is no charge from KCB. But you should note that sending money via safaricom Mpesa will include a fee alongside some other charges that are listed below.
- You are being charged Kshs.2 for dialing on to kcb mobi bank via USSD- charged by your mobile phone subscriber
- You will be charged 33Kshs for balance enquiry
- You are charged Kshs. 33 for mini statement
- Forex rates are free
- Purchasing airtime for your phone or another is free
- Transfer from KCB account to Mpesa account is Kshs. 55
- Salary advance is charged an interest rate of 8% monthly
Final Thoughts on How to Transfer Money from Mpesa to KCB Account
It is of no doubt that the mobile money transfer Industry is among the fastest growing service industries in America and due to its mobility and adaptability, numerous banks around the world like kcb have also adopted the system and now it is now possible for customers to transfer funds from M-pesa to KCB even though locally.
Frequently Asked Questions
1. How to Withdraw Money with a KCB M-Benki Account?
Well, if you have an emergency involving an expired ATM card or immediate financial needs, then you do not have to worry about forgetting your ATM card as you can withdraw cash at your nearest KCB ATM by using "555555" as the agent number.
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