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Using a Mobile Phone to Bank - M-Pesa

M-PESA service is provided by Safaricom Mobile Telephone provider. The service allows you to deposit money in a ‘virtual’ account that exists in your mobile phone. This service is only available for those with Safaricom Mobile Phone numbers.

With M-PESA, you can send money, withdraw cash from an M-PESA agent or ATM, buy airtime for your phone or someone elses, pay utility bills and buy goods.

How do I acquire an M-Pesa account?
All new Safaricom SIMM cards come with a pre-loaded M-PESA menu. However, if your SIMM card is old, it is possible you don’t have it. In order to register, go to an M-Pesa agent and take your phone and Identity card with you.
 
Deposit and Send Money
You can send money to any other mobile phone user in Kenya. In order to do this you must first deposit cash into your own M-PESA account. You do this by going to an M-Pesa agent who loads the money for you.
 
What do you require to deposit money into your M-PESA account?
  • Go to an authorized M-PESA agent with your phone and original ID.
  • Inform the agent how much you wish to deposit.
  • They will use their agent phone to send you e-money in exchange for cash.
  • You and your agent will receive an SMS from M-PESA confirming the transaction

To send money, go to the ‘Safaricom’ menu and select ‘M-PESA’

  • Select ‘Send Money’
  • Enter your recipient’s phone number, the amount you wish to send and your PIN.
  • You will receive a screen with the information you have entered above,confirm that it is correct then Press Ok.
  • You and the recipient will receive an SMS from M-Pesa confirming the transaction.
What do I do when I send money to the wrong number?
  • Call Line 234 immediately and provide them with the number that has erroneously received the cash.
  • Funds sent to a wrong number will be reversed only if still available in the wrong recipients account.
  • If successful, you will receive an SMS indicating that a reversal has been done
Withdraw money
You can withdraw cash from any M-PESA agent outlet or from a PesaPoint ATM. If you are a registered M-Pesa customer, go to an M-PESA Agent and:
  • Ask the agent if he has sufficient funds for your transaction.
  • Give your phone number and show your original ID.
  • Go to your M-PESA menu, select ‘Withdraw Cash’.
  • Enter the Agent number, the amount you wish to withdraw and your PIN.
  • You will receive a screen with the above transaction details. Confirm they are correct then Press OK.
  • You and your agent will receive an SMS confirming the transaction.
  • The Agent will then give you the cash and request you to sign a Log book which is a record of M-PESA transactions done in that store.
If you are not M-Pesa registered; go to an M-PESA Agent and:
  • Ask if he has sufficient funds for your transaction.
  • Present the SMS containing the M-PESA voucher number (notification confirming receipt of cash)
  • Give your phone number and show original ID.
  • Agent will enter the ‘one time code’ that is displayed on the customer’s SMS notification
  • Both the agent and the customer will receive an SMS confirming the transaction
  • The agent will give you your money and request you to sign the Log book which is a record of M-PESA transactions done in that store
You can also withdraw money from a PesaPoint, Equity and Diamond Trust ATM. It is only registered customers who can use this service. To withdraw cash, you must follow instructions both on your phone and on the ATM machine.
 
First on your phone:
  • Select ‘ATM Withdrawal’ from the M-PESA menu
  • Enter PesaPoint’s Agent Code (555 555) or Equity Bank Code (286286) or Diamond Trust Code (555 555)
  • Enter your M-PESA PIN
  • You will receive an SMS notification from M-PESA with a 6-digit authorization code. This code expires after 2 hrs and you’ll be expected to start the process again if you want to withdraw the money.
Then on the ATM:
  • Select the M-PESA button on the PesaPoint, Equity or Diamond Trust ATM
  • Select your preferred language
  • Enter the 6-digit ATM Authorisation Code on the ATM keyboard.
  • Enter your Safaricom mobile number.
  • Enter the amount you wish to withdraw, press CONTINUE to proceed with transaction.
  • ATM will dispense your cash and issue you with a receipt. You will also receive an SMS from M-PESA confirming the transaction.
Buying Airtime using M-Pesa  
If you are a registered M-PESA customer, can be able to buy airtime of Ksh. 20 – 10,000 for your phone or another Safaricom subscriber. Here are the steps to follow;
  • Go to ‘Buy airtime’ on your M-PESA menu
  • Enter mobile phone number of the phone you are buying airtime for.
  • Enter amount of airtime you wish to buy.
  • Enter your M-PESA PIN and then confirm the details. The confirmation message provides details you entered, if they are correct, complete transaction by pressing OK.
  • You will receive a confirmation SMS from M-PESA.
Pay Bills
M-PESA registered customers can be able to pay bills for services received from selected M-PESA Bill Partners. Safaricom has over 65 M-PESA Bill Partners. Participating companies and Institutions have unique business numbers that must be quoted for any M-PESA transaction.
 
Amongst the prominent service companies in this partnership are Kenya Power and Lighting Company, Kenya Water Services, NHIF, HELD, Nairobi Women's Hospital, Safaricom Postpay Mobile and Kenya Airways.
 
When paying bills, maximum transaction amount per day is Ksh. 70,000 and the maximum amount transferable per transaction is Ksh. 35,000. To pay a bill you must;
  • Select Pay Bill from your M-PESA menu
  • Enter ‘business number’ of the company you are paying to.
  • Enter the ‘account number’ of the bill you wish to pay for.
  • Enter the amount you wish to pay (between Ksh. 100 – 35,000)
  • Enter your M-PESA PIN
  • Confirm details are correct and press OK
M-PESA International Money Transfer

You can now receive money through M-PESA International Money Transfer (IMT) from somebody living abroad. The money transfer is immediate. Both the Sender & Receiver are sent a confirmation SMS text message from M-PESA. This service right now is only available between Kenya and UK. Those living in UK can send money through their local Safaricom collaborating agents; Western Union, Provident Capital and KenTV. The receiver can get the money through any local M-PESA agent or any collaborating bank ATMs. You can learn more about the M-PESA International Money Transfer here.

M-KESHO Bank Account

This an M-PESA bank account introduced by Equity Bank in collaboration with Safaricom. It allows any registered M-PESA user to deposit or withdraw money from the account using M-PESA service from anywhere. This has elevated mobile banking to a higher level. This account offers loans facilities, earns interest and provides access to insuarance cover. Learn more about M-KESHO Bank Account here.

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I am using M-PESA service.I must say,with the help of this service you can send money, withdraw cash from an M-PESA agent or ATM, buy airtime for your phone or someone elses, pay utility bills and buy goods.Regards:online colleges

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