KCB Bank customers across the country can now enjoy a reduced flat fee of Sh20 when sending money through Pesalink for any amount above Sh1,000 up to Sh999,999. In addition, transactions below Sh1,000 will be completely free, enabling customers to make everyday transfers at no cost.
In line with the industry’s “Tuma Direct na 20/-,” campaign, the move is aimed at making real-time payments more affordable, and convenient for individuals and MSMEs using KCB Bank’s mobile & internet banking channels.
Commenting on the milestone, KCB Bank Kenya Managing Director Annastacia Kimtai, noted that this initiative expands access to financial services for Kenyans by lowering transaction costs and offering alternative options thus bringing mainstream financial services closer to underserved communities, with a particular impact on SMEs that rely on efficient, affordable financing to grow.
“By standardizing Pesalink transaction fees at Sh20/=, we are eliminating price ambiguity and offering a clear, predictable cost for bank-to-bank transfers. This positions Pesalink as a practical and affordable option for individuals and businesses, driving wider adoption of formal financial services. The initiative also aligns with KCB’s broader digital transformation strategy, which seeks to leverage technology and partnerships to offer efficient, customer-centric banking solutions,” Kimtai said.
Pesalink, which enables real-time interbank transfers, has become a critical component of Kenya’s digital payments ecosystem.
For KCB Bank, the removal of uncertainty around transaction charges will encourage greater adoption of formal banking channels for everyday payments.
On his part, IPSL CEO, Gituku Kirika said; “Tuma Direct na 20/- is a rallying call for banks and customers to move to the simpler Pesalink pricing. In collaboration with our industry partners, we are lowering costs and accelerating the adoption of instant bank-to-bank payments across the economy. KCB is taking the important step toward deepening financial inclusion and strengthening Kenya’s position as a leader in digital financial services.”
The move comes as KCB continues to drive investments that will secure its leadership in digital payments.
Over the past few years, the bank digital channels have consistently grown by over 20% both in value and volume of transactions. The digital channel processes 99% of all transactions conducted through the KCB touchpoints during the year.
The KCB Group Strategy 2024 – 2026, “Transforming Today Together”, anchors this milestone. The strategy seeks to leverage cutting-edge technology to empower customers by removing barriers to financial access.
