The fight is on. I&M Bank removes Bank to Mpesa charges

On Wed, 15 Feb 2023 at 17:03, Mwendwa Kivuva via KICTANet <
[email protected]> wrote:

> After introduction of Bank to M-pesa charges; ATMs got heir grove back.
> More people started withdrawing to pay cash
> <www.standardmedia.co.ke/business/article/2001464713/atms-get-their-groove-back-as-mobile-transfer-fees-reinstated#:~:text=%E2%80%9CThe%20Central%20Bank%20of%20Kenya,said%20in%20a%20statement%20early>
> to reduce their transaction costs.
>
> Now, I&M Bank has permanently dropped levy fees
> <www.businessdailyafrica.com/bd/corporate/companies/i-m-bucks-the-trend-with-cash-transfer-fees-waiver-4124842>
> for transferring cash between its platform and mobile wallets, bucking the
> trend in the sector that has been reinstating the charges since January
> amid customer outcry. The move will save I&M customers between Sh10 and
> Sh65, the range the lender was charging after the Central Bank of Kenya
> (CBK) announced a return of charges on transactions between banks and
> mobile money wallets.
>
> Is the market adopting to consumer behaviour and correcting itself? What
> will the future look like on the cost of digital cash transfer charges?
>
> Best Regards,
> ______________________
> Mwendwa Kivuva, Nairobi, Kenya
> www.linkedin.com/in/mwendwa-kivuva
>