In response to a new tax introduced by the government, Airtel Money, a prominent mobile money service provider, has reviewed its tariff structure, resulting in increased charges for sending and receiving cash across other networks.
The adjustments have been designed to offset the burden of a recently imposed 15 per cent excise duty tax on transaction fees applied to money transfer services by cellular phone providers.
The telco, Airtel Money, officially announced these tariff changes, which came into effect on Wednesday, aiming to provide clarity to its user base.
Under the revised tariff structure, individuals withdrawing amounts between Sh101 and Sh500 on networks other than Airtel Money will now incur a fee of Sh25, an increase from the previous Sh22 charge.
Moreover, Airtel Money users engaged in transactions between Sh501 and Sh1,000 now face a charge of Sh11, up from the previous fee of Sh10 when transferring funds to other users.
Simultaneously, subscribers from different telecommunications providers withdrawing amounts between Sh501 and Sh1,000 from Airtel Money agents will see their fees rise to approximately Sh25, up from the previous charge of Sh23.
Notably, the telco said that while Airtel Money has adjusted its tariffs to account for the new tax, it has retained its commitment to affordability and customer satisfaction.
Anne Kinuthia-Otieno, the Managing Director of Airtel Money Kenya, highlighted that while the company has adjusted its mobile money transaction rates for transactions involving other networks, they are still competitively priced when compared to market standards.
"It is worth noting that additionally, the withdrawal charges and cost of transferring money to other networks will remain significantly affordable compared to current market rates."
She further emphasized Airtel's dedication to providing unparalleled customer experiences through innovative solutions.
Despite these changes, sending money from one Airtel user to another within the network remains free of charge, offering a convenient and cost-effective option for subscribers.