How to withdraw money from KCB and deposit it to M-PESA account 

KCB Bank Kenya Limited, licensed by the Central Bank of Kenya, is a bank based in the Kenyan capital, Nairobi.

M-PESA is a mobile banking service that enables users to save and transfer funds from their mobile devices.

How to withdraw money from KCB and deposit it to M-PESA account

Here is a step-by-step process of how to deposit money from your KCB account to your M-PESA account.

  • Dial *522# on your phone and input your M-Benki PIN to begin the transaction.
  •  From the drop-down menu, choose “MyKash,” and then “M-Pesa.”
  • Enter the amount you wish to send, up to fifty Kenyan shillings (KSh). The total cost of your transaction will be shown, alongside the amount you wish to send.
  • If you’re sure everything is in order, accept and finalise the prompt.
  • You will be notified of the deposit in your M-PESA account via SMS.

How to deposit money from M-PESA to KCB

Transferring money from M-PESA to a KCB account is quite simple and here’s how:

  • First, go to your M-PESA menu.
  • Choose “Lipa na Mpesa”.
  • Enter the PayBill number – 522522
  • Afterwards, type in the KCB account number of the recipient.
  • Enter the amount you wish to send, then enter your M-PESA PIN and confirm to send money.

The charges for transferring money between KCB and M-PESA

KCB does not impose any fees on customers who make deposits through M-PESA. However, transferring money from an M-PESA account to KCB has charges attached. The fees associated with using M-PESA are listed below:

  • Any fees associated with using USSD to connect to KCB Mobi Bank are the responsibility of the mobile service provider. If you use M-PESA, you’ll be billed 2 Kenyan Shillings.
  • Balance inquiry costs 33 Kshs.
  • Requesting a mini statement costs 33 Kshs.
  • Checking foreign exchange rates is free.
  • Transferring money from a KCB account to M-PESA costs 55 Kshs.
  • Buying airtime for yourself or someone else is free
  • Interest on Mobi Loans and Kopa Bill Loans is 6% per annum.
  • Paycheck advances carry a monthly interest rate of 8%.

Note: There is a hack through which you can deposit money to a KCB account from M-PESA without paying the transaction charges and here’s how:

Simply open a KCB M-Benki account, which is essentially opening a KCB account through M-Pesa.

How to Open a KCB M-BENKI Through M-Pesa

  • First, go to the M-PESA menu
  • Choose Lipa na M-PESA
  • Select Paybill and enter Paybill number 522522

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