Money transfer has taken on a whole new dimension with the introduction of PesaLink. PesaLink is a new money transfer service that enables money transfers from one person to another across all Kenyan banks. It is developed and owned by Kenyan banks through their umbrella body, Kenya Bankers Association (KBA).
PesaLink enables you to make payments between banks in real-time, around the clock. For example, if you are constructing a house, you can pay your materials supplier by transferring the money from your Bank account to the supplier’s account in any bank. You can also use PesaLink to pay bills such as hospital bill, school fees, etc.
What’s more? With PesaLink you can now transfer as little Sh 10.00 to as much as Sh999,999. It is also safe since it eliminates the use of cash as a mode of payment. Moreover, PesaLink will facilitate funds transfers from KES to KES, USD to USD, GBP to GBP and EUR to EUR accounts. There will be no currency conversion at the switch.
What do you need?
To send money using PesaLink visit any of bank branch and fill in the PesaLink form. You can also download the forms from your bank’s website, fill then present to your branch. You will choose one of your accounts that you want to use as your primary account for PesaLink transactions. This will then be linked to your cell phone number.
You then present the completed form to the Teller who will verify your account details and phone number then execute the transfer. Both you and your beneficiary will receive an SMS alert instantly, confirming the transaction. You can also receive money in to your account from another registered user from any bank. All they need from you is your account number.
In this initial phase, the service will be available in your bank branches, Internet Banking Platform, and our Mobile Banking Apps to give you more convenience and greater control of your transactions.
Why you must use PesaLink:
- It is instant/ Real-time
- It is cheaper
- It is convenient
- It is secure
- It is 24/7
- Larger maximum limit of amounts you can send
- Unlimited number of daily transactions
Charges apply only to amounts above Sh500.00, and range between Sh50.00 – Sh130.00 per trans action (exclusive of excise duty).