Here is Why You Should Update the Next of Kin Details on M-Pesa

Ever wondered where money in an M-Pesa account goes to when the account owner dies? Well, so have I and this is what I found out in my research.

Money in the M-Pesa account can be passed on to the account owner’s next of kin once claims from the kin are verified.

The beneficiary is required to visit any Safaricom shop with a set of documents for verification and approval before the money can be released to them. The documents required are as listed below and depend on the amount in the account;

M-Pesa Accounts with more than 30,000 shillings

1. Copy of the next of kin’s Identification card
2. Copy of the death certificate
3. Grant of probate,  in case the M-PESA account holder had a written will
4. Letters of Administration; in case the M-Pesa account holder died without writing a will.

M-PESA accounts with less than 30,000 shillings

1. Next of Kin’s Identification card and copy to be retained.
2. Affidavit administered by a Commissioner for Oaths and sworn by the claimant
3. Death Certificate and kindly note that Burial permit can NOT be accepted.
4. Letter from Provincial Administration of the deceased’s area of residence or letters of administration

It is important to note that in disputed cases, the beneficiary will be required to present Letters of administrations or grant of probate.

Money that is not claimed is submitted to the Unclaimed Financial Assets Authority (UFAA). Money submitted to the UFAA is of accounts that have been dormant for two years.

Money could be submitted to UFAA because of lack of activity on the M-PESA Account or where an account holder dies and the money has not been claimed by the next of kin.

Money submitted to the UFAA can still be claimed by the next of kin by filing a claim with them. The next of kin would be required to present documents as would be advised by UFAA.

Registering your next of kin details is free of charge and conveniently done from the comfort of your phone by simply dialing *234# and Selecting Next of Kin.