M-Pesa is no doubt Africa’s most successful mobile money service and Kenya’s largest fintech platform. It is the most preferred way to make payments in Kenya due to its safety and unmatched convenience. It also provides financial services to millions of people who have mobile phones, but do not have bank accounts, or only have limited access to banking services.
While a significant number of people nowadays prefer to pay for their transactions directly from their mobile phones through ‘Lipa na Mpesa’ or the ‘Paybill,’ there are times when you may need hard cash which will require you to withdraw money.
For M-Pesa withdrawals, you may need to visit an agent shop near you or go to an ATM. If you prefer to withdraw from an agent, there are several requirements you need to have in mind.
- To transact at any M-PESA agent outlet, you will be required to produce your original identification document with which the M-PESA was registered, i.e., National ID or Kenyan Passport
- One can deposit or withdraw funds only into M-PESA account registered under their own identification document (ID). Depositing directly into third party accounts is not allowed.
- The maximum daily transaction value is kshs.300,000
- The maximum amount per transaction is Kshs.150,000
- The minimum amount you can withdraw at an M-PESA Agent is Kshs.50
- You will earn Bonga Points from the M-PESA fee charged when you transact.
- You can dial *334# to view application charges or use M-PESA cost calculator on My Safaricom App
- Maximum Account Balance is Kshs.300,000
- To initiate M-PESA person-to-person self-reversal, send the transaction confirmation to 456
- To be able to transact, your Safaricom line and M-PESA account must be active.
- It is also important to note that making a deposit at an agent is completely free and you should not be asked for money.
Withdrawal procedure
The following are Mpesa withdrawal procedures plus charges in 2023
1. Withdrawal via Safaricom Menu or SIM Toolkit
- Select M-PESA
- Select withdraw cash
- Select from agent>>Enter agent number which is displayed at the agent’s shop
- Enter the amount you wish to withdraw
- Confirm to accept transaction details
- You and the agent will receive an SMS confirming the transaction. The agent will give you the cash.
2. Withdraw on M-PESA Super App
- Launch the M-PESA Super App
- On the home screen, Select withdraw
- Select withdraw at agent>>Enter agent number which is displayed at the agent’s shop
- Enter the amount you wish to withdraw
- Confirm and accept transaction details
- You and the agent will receive an SMS confirming the transaction
3. Withdraw on My Safaricom App
- Launch the M-PESA My Safaricom app
- On the M-PESA tab, Select withdraw cash
- Select from agent>>Enter agent number which is displayed at the agent’s shop
- Enter the amount you wish to withdraw
- Confirm and accept transaction details
4. Withdrawal via USSD
- Dial *334#
- Select withdraw cash
- Select withdraw from agent>>Enter agent number which is displayed at the agent’s shop
- Enter the amount you wish to withdraw
- Confirm and accept transaction details
- You and the agent will receive an SMS confirming the transaction
Withdrawal of funds from an M-Pesa agent however is not free. M-Pesa rates range between Kshs. 10 and Kshs. 300 depending on the amount of money you are withdrawing. These charges took effect on January 1, 2021 and have remained unchanged in 2022 and 2023.
Here is a breakdown of withdrawal charges and rates.
If you are far from an agent or if you prefer to withdraw cash from your Mpesa account through an ATM, these are the procedures you should follow.
Step 1: The phone process
On your phone, either via STK (Sim Toolkit), USSD (*334#), My Safaricom App or M-PESA Super App.
- Select withdraw from ATM
- Enter ATM number >>Enter your M-PESA PIN
You will receive SMS notification from M-PESA with a 6-digit authorization code
Note: The code expires after 10 minutes, and you will be expected to initiate the transaction afresh if you wish to withdraw money again.
Step 2: The ATM process:
- Select the M-PESA button on the ATM
- Select your preferred language
- Enter the 6-digit ATM Authorization code on the ATM Keyboard
- Enter your Safaricom mobile number
- Enter the amount you wish to withdraw; press continue to proceed with transaction
- The ATM will dispense your cash and issue you with a receipt. You will also receive an SMS from M-PESA confirming the transaction.
It is however important to note that withdrawing from an ATM has different charges from when you do it at an Agent. Here is a table showing what you will be charged to withdraw from an ATM.
| Min (Kshs) | Max (Kshs) | Charges |
| 200 | 2,500 | 34 |
| 2,501 | 5,000 | 67 |
| 5,001 | 10,000 | 112 |
| 10,001 | 20,000 | 197 |
DISCLAIMER: This article is intended for general informational purposes and does not address individual circumstances. In case you are not sure, you should call Safaricom by dialling 100
