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Banks to reinstate mobile money transfer charges after CBK nod

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Central Bank of Kenya (CBK) Governor Dr Patrick Njoroge. [Elvis Ogina, Standard]

Bank customers will from next month dig deeper to transfer money from their accounts to mobile money wallets such as M-Pesa and Airtel Money after the Central Bank of Kenya (CBK) reinstated the service charges.

The return of the fees frozen over two years ago comes as fresh pain for consumers, but a major win for lenders who have witnessed a fall in fees and commissions.

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