NCBA Bank has revised its Pesalink pricing, allowing customers to transfer up to Ksh1,000 to accounts held at other banks without paying a transaction fee.
Under the new pricing structure, customers using the NCBA NOW App will not pay anything for Pesalink transfers of Ksh1,000 and below, while transactions above Ksh1,000 will attract a flat fee of Ksh20.
The bank said the revised charges are intended to simplify interbank transfers by eliminating multiple pricing bands and giving customers a predictable cost whenever they send money to other banks.
The change could benefit customers who regularly make low-value payments such as sending money to family and friends, paying rent or settling small bills and purchases.
For example, a customer sending Ksh500 or Ksh1,000 through Pesalink will now pay no transfer charge, while someone sending Ksh10,000 will pay Ksh20.
The revised pricing also comes alongside NCBA's existing policy of offering free transfers between NCBA accounts.
Dennis Njau, Group Director Retail Banking, said the bank was seeking to make everyday transactions cheaper and easier for customers, stating "At NCBA, we are constantly looking for ways to make banking simpler, more affordable and more relevant to our customers' everyday lives."
Njau added that the new pricing would give customers greater certainty over the cost of sending money. "The revised Pesalink pricing reflects our commitment to empowering customers with transparent and cost-effective digital payment solutions," he added.
He noted that the new structure applies to both small personal transfers and larger payments. "Whether someone is sending a small amount to a loved one or making a larger business payment, they can now transact with greater confidence, knowing exactly what the transfer will cost," he continued.
Pesalink allows customers to move money instantly between accounts held at participating banks in Kenya, with transactions completed in real time. Through the NCBA NOW App, customers can send up to Ksh999,999 using Pesalink.
The new pricing therefore means customers sending amounts above Ksh1,000 will pay the same Ksh20 fee regardless of whether they transfer Ksh2,000, Ksh50,000 or Ksh999,999.
The move comes as digital banking continues to account for a large share of transactions in Kenya, with the Central Bank of Kenya (CBK) stating that digital channels account for more than 80 per cent of banking transactions.
For NCBA customers, the immediate change is the removal of the transfer fee on Pesalink transactions of up to Ksh1,000, potentially making the service more attractive for everyday low-value payments.
