African Banking Corporation (ABC Bank) has reduced its PesaLink transfer charges, introducing free transfers for transactions of up to KSh999 and a flat fee of KSh20 for transfers ranging from KSh1,000 to KSh999,999.
The revised pricing forms part of the “Tuma Direct na KSh20” campaign, an industry-wide initiative led by Integrated Payment Services Limited (IPSL), which operates PesaLink, in collaboration with Kenyan banks.
ABC Bank customers can access PesaLink through the bank’s ABConnect mobile banking platform and internet banking services. The pricing change is intended to encourage customers to use direct bank-to-bank transfers for everyday payments.
ABC Bank Managing Director Apollo Njoroge said the revised charges would make real-time transfers more affordable and convenient. He also welcomed the industry-wide campaign, which aims to simplify and reduce the cost of moving money directly between bank accounts.
The bank is also progressing initiatives under its broader Mach 2 roadmap to improve account-to-account payments. These include PesaLink ID, which will allow customers to send money using identifiers such as a phone number or national identity number instead of entering a bank account number.
The roadmap also includes interoperable agent cash-in and cash-out services and Lipa na Bank merchant payments. These initiatives are intended to expand payment options and make digital banking transactions more convenient for customers.
The revised PesaLink fees reflect wider efforts across Kenya’s banking sector to encourage direct digital payments by making transfers more accessible and affordable.
