How to send money from M-Pesa to Equity

  Banking

While M-Pesa dominates money transfer in Kenya, banks still have a lot of clout when it comes to savings. This is attributed to loans and overdraft facilities they offer. So how does a subscriber transfer money they have in their M-Pesa to Equity bank?

  • Go to your M-PESA Menu
  • Select Lipa Na M-Pesa
  • Choose Paybill
  • Select Business Number
  • The Equity bank M-PESA paybill number is 247247
  • Pick Account number
  • Key in your Equitel phone number/Equity Account number
  • Enter Amount
  • Key in your M-PESA pin
  • Confirm your details
  • You will receive a confirmation SMS

Read Also: How to download your M-Pesa statement

M-Pesa Equitel Charges

While equity bank pronounces itself as not making any charges when it comes to checking account balances, buying airtime, etc., when it comes to M-Pesa to Equitel transfers you are definitely charged. M-Pesa charges for the money transfer albeit depending on the amount in question.

Most mobile carriers have a standing charge of Ksh 33 regardless of the amount of transaction.

Equitel doesn’t charge a fee save for the tax it pays for offering the service. The transfer fee payable for any transaction, therefore, increases with each bracket of the transaction when Equitel tax and the standard mobile carrier Ksh 33 are added. Below is a breakdown of the transfer fees as of the time this guide went live.

50-100               KSH 34

101-500              KSH 38.50

501-1000            KSH 44.00

1001-1500          KSH 49.50

1501-35000        KSH   60.50

However, these figures are subject to changes depending on mobile carriers and government ever-changing tax regimes.

There you have it how to transfer money from M-Pesa to Equitel.