How To Send Money From MPesa To Bank 2023 (Includes All Banks)

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What Is MPesa & How Does It Work?

MPesa is regarded as Kenya’s premier mobile money transfer service including mpesa to bank launched in March 2007 by Safaricom and has since managed to amass over 30 million active users as at 2023.

Besides mobile money transfer options, Mpesa also boasts a catalogue of equally popular services such as digital loans & savings platforms (Mshwari & KCB Mpesa), overdraft facilities (Fuliza) etc

To be able to use MPesa, an individual requires a Safaricom subscription obtained by purchasing a Safaricom sim card, registering to the network and activating the Mpesa service.

Afterwards, the MPesa menu can be accessed from a variety of channels including SIM toolkit, MySafaricom app or MPesa app.

Advantages Of MPesa

i. Fast- Sending and receiving funds is much faster compared to traditional mediums such as cheques, EFT etc

ii. Secure-  Access to MPesa services require MPesa PIN to effect transactions.

iii. Finance Management- MPesa users are able to manage their finances by tracking income & expenditure through a variety of MPesa related services such as MPesa statements.

iv. Convenient- Anyone can transact from any place at any time as long as there is sufficient funds in the MPesa account.

v. Contactless- Requires no physical carrying of cash/cards

vi. Efficient- Besides mobile money transfer, MPesa also offers a variety of other services under the platform

vii. Encourages Saving- Through Mshwari & KCB MPesa, subscribers can save towards a particular goal.

viii.Access To Credit- MPesa subscribers are able to access digital loans.

ix. Poverty reduction- this is possible due to increased consumption as a result of the ease of sending & receiving funds via MPesa.

Disadvantages Of MPesa

i. Identity theft- refers to stealing of personal information for purposes of committing fraud. Cases of victims losing money from their MPesa accounts have been rampant due to SIM swaps implemented by tech savvy criminals in collusion with rogue Safaricom employees.

ii. Cash loss due to Wrong Number Transactions

Majority of Kenyans lose cash daily as a result of sending funds to wrong recipients unknowingly due to error while inputting the phone digits. While this can be rectified through initiating an MPesa reversal, this is at times impossible when the recipient withdraws the ‘stolen’ funds.

iii. System Outages

This is generally caused by MPesa maintenance schedules whereby services are temporarily suspended. This at times leads to inconveniences considering that a large percentage of Kenyans rely on MPesa daily for their transactions.

How To Register & Activate MPesa

Registration and activation of MPesa is as simple as purchasing a Safaricom line from any MPesa agent and filling in the registration form as well as providing a national ID card.

When it comes to MPesa activation, simply follow the procedure below;

Navigate to the SIM toolkit and select the MPesa menu
Select ‘Activate/Wezesha’ to receive start PIN via SMS
Input the start PIN
Proceed to enter & confirm your own secret PIN
Enter your national ID

How To Change Forgotten MPesa PIN

As a security measure, MPesa uses PIN technology to secure one’s MPesa account. This method has proved very useful in deterring instances of both physical and identity theft.

However, there are situations whereby the actual Mpesa account owner is denied access due to forgotten MPesa PIN. In such a case, one is required to simply request for an MPesa PIN change via the procedure outlined in this link.

How To Transfer Money From MPesa To Bank

Mpesa being a Safaricom product, the latter has provided different platforms with which a Safaricom subscriber can use to access MPesa especially when transferring money from MPesa to bank via the Lipa Na MPesa option.

Besides the default MPesa menu accessible via the SIM toolkit using the procedure below.

Go to SIM toolkit
Select ‘MPesa’
Select ‘Lipa Na MPesa’
Select ‘Paybill’
Enter Business number
Enter Account Number
Enter Amount
Enter MPesa PIN

There are also other official 3rd party Safaricom apps with which to access the Lipa Na MPesa menu. They include;

Therefore, one can easily transfer money from MPesa to bank by using the bank provided paybill numbers and personal bank account numbers.

MPesa To Bank – ABC

MPesa To Absa Bank

MPesa To Bank (Access)

MPesa To Bank Of Africa

MPesa To Bank Of Baroda

MPesa To Bank Of India

MPesa To Bank (Citibank)

MPesa To Consolidated Bank

MPesa To Co-operative Bank

MPesa To Credit Bank

MPesa To Development Bank

MPesa To Diamond Trust Bank

MPesa To Bank (Dubai Islamic Bank)

MPesa To Ecobank

MPesa To Equity Bank

MPesa To Family Bank

MPesa To First Community Bank

MPesa To Guaranty Trust Bank

MPesa To Guardian Bank

MPesa To Gulf African Bank

MPesa To Habib Bank

MPesa To HFC Bank

MPesa To I&M Bank

MPesa To Kingdom Bank

MPesa To KCB

MPesa To Mayfair Bank

MPesa To Middle East Bank

MPesa To M-Oriental Bank

MPesa To National Bank

MPesa To NCBA

MPesa To Paramount Bank

MPesa To Prime Bank

MPesa To SBM Bank Kenya

MPesa To Sidian Bank

MPesa To Spire Bank

MPesa To Stanbic Bank

MPesa To Stanchart Bank

MPesa To UBA

MPesa To Victoria Bank

Microfinance Banks

MPesa To Caritas Bank

MPesa To Century Bank

MPesa To Choice Bank

MPesa To Daraja Bank

MPesa To Faulu Bank

MPesa To KWFT Bank

MPesa To Maisha Bank

MPesa To Rafiki Bank

MPesa To Key (Formerly Remu) Bank

MPesa To SMEP Bank

MPesa To Sumac Bank

MPesa To U&I Bank

MPesa To Uwezo Bank