Airtel Money has announced a significant increase in the transaction limit for its users, allowing them to transact up to Sh250,000 in a single transaction, marking a substantial increase of Sh100,000 from the previous limit of Sh150,000 per transaction.
The enhanced transaction limit will be in effect starting today.
Airtel attributed this change to successful discussions and negotiations with the Central Bank of Kenya (CBK).
This adjustment follows a recent development where Airtel Money raised its daily transaction limits from Sh300,000 to Sh500,000, which was approved by the CBK two weeks ago.
Interestingly, while Airtel Money has increased both daily and per-transaction limits, its rival, M-Pesa, has only revised its daily limit and has yet to change its per-transaction limit.
Importantly, Airtel Money has decided to keep transaction charges for this new transaction band consistent with the previous range of Sh70,001 to Sh150,000.
Airtel emphasized that this decision was made to provide its clients with added flexibility without incurring additional costs.
Anne Kinuthia, the Managing Director of Airtel Money Kenya, stated, “The inclusion of the 150,001 to 250,000 transaction band without any extra transaction charges aligns with our commitment to empower our customers with versatile and personalized solutions, all while delivering exceptional value for their money. This signifies our dedication to convenience and affordability.”
Previously, clients often resorted to breaking down larger transactions into multiple smaller ones due to the lower transaction limits.
With this increase in limits, Airtel aims to streamline the transaction process and eliminate this inconvenience.
Airtel anticipates that this change will be well-received by both individuals and businesses, enhancing their day-to-day financial transactions.