Banks are charging different fees on their newly launched PesaLink money transfer service in a mixed strategy of attracting customers and growing transaction-based income.
Tariffs reviewed by Business Daily show that some banks have low rates of Sh40 and below for sending amounts of up to Sh999,999, signalling that they see the service as more of a value-add than an income stream. Others are charging highs of up to Sh200, indicating a bid to prevent loss of revenue from PesaLink which is expected to eat into the usage of other payment options including cheques.
