SBM Bank Kenya is set to raise charges for the transfer of funds from customer accounts to mobile money wallets, coming almost two months after Safaricom effected new M-Pesa transaction costs.
The Mauritian lender, which completed the acquisition of Chase Bank assets last month, said its customers would pay Sh59.30 for transfers below Sh20,000 — a 7.8 per cent decrease — and Sh86.30 for transactions above Sh20,000.
