NAIROBI, Kenya, Jan 19 – Banks have refuted claims that charges on Bank-to-MPesa have been removed following a court order that stopped the charges.
Kenya Commercial Bank (KCB) as well as Equity Bank confirmed to Capital FM that the charges still applicable as they await a directive from the Central Bank of Kenya (CBK).
A section of Twitter users had been peddling claims that Banks had stopped the fees following a court order.
A KCB employee who is not allowed to speak to the media said that the lender still charges mobile money transactions.
Equity also confirmed that they are yet to get any directive from the regulator to halt the charges.
Barely a week, the High Court ordered Banks and telco operators such as Safaricom to suspend the introduction of the Bank to MPesa charges, pending determination.
Judge Mugure Thande issued the interim order that was lodged by a Nairobi resident Moses Wafula who argued that the cost should have been borne by operators.
Court decision now stops telcos and financial institutions from implementing the fees that were waived by the Central Bank of Kenya (CBK) on December 6 2022.
CBK reinstated charges on transfer of funds from Banks to MPesa wallets, representing a win for financial institutions who had been urging for reinstatement.
On March 16 2020, the Government waived charges as part of an emergency plan to encourage mobile money transaction at the height of Covid-19 pandemic.
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