6 Reasons PesaLink is the Best Option for Your Money Transfers

By Soko Directory Team / December 13, 2018

PesaLink is a service that was initiated by the Kenya Bankers Association (KBA) to help ease the hassle of moving funds from one bank to other making transfers flexible, convenient and safe.

Anyone with a bank account and a linked phone number can use the service. It is easily accessible from various devices and platforms including your smartphone, ATM machines, and internet banking.

That said, here is why PesaLink will make your money transfers much easier:

· You can send and receive up to 999,999 shillings

Most money transfer services can be especially limiting when you want to send or receive large amounts of money most offering transfer solutions limited to140,000 shillings. However, with PesaLink, you can send from as low as 10 shillings and as high as 999,999 shillings. You can even purchase a car or a plot of land and transfer cash using PesaLink!

· It is Available 24/7

PesaLink service is available around the clock. You don’t have to contend with limitations on when you can transfer cash for emergencies or for easy withdrawals. Pesalink works whenever, on weekends and public holidays as well. Wherever you are in the country and as long as you are linked, Pesalink is at your service.

· PesaLink is Highly Affordable

Depending on the amount you transfer, you can send money for free for low fees of up to 500 shillings. The maximum amount you transfer attracts a charge of fewer than 500 shillings saving you hundreds in transactional charges.

· It is Fast, Easy, and Convenient

Before the introduction of PesaLink, interbank transfers usually took up to 7 days. PesaLink has allowed instant money transfers to multiple accounts and to anyone with a bank account in the country. You no longer need to visit the bank to carry out the transaction. As long as your phone number is linked, you can transfer cash within minutes at the comfort of your home.

· Easily Accessible

PesaLink can be accessed through your phone, an ATM machine, branch front office, agency banking, POS, and your computer through online internet banking.

· PesaLink is Secure

PesaLink is guided and safeguarded by secure systems from hacks that often face other mobile money solutions. Integrated Payments Service Ltd (IPSL) has taken all the necessary procedures to ensure that your transactions always remain safe and that only you can access your funds.

There are other lots of advantages as to why you should get linked. Although PesaLink currently supports transfers within the country, it is worth not passing up. Remember, you won’t be charged for receiving money and you will always get notifications for any transaction you make.

Here is how to get linked:

· Select the PesaLink option on your bank’s menu

· View the PesaLink menu

· Select “Link Your Phone”

· Select the Account Number you want to link

· Select YES/NO to make it your primary account.

· Confirm the account and mobile number details

· After pressing Confirm, you will receive a confirmation notification

From the PesaLink menu, you can send money to any of the channels or devices including your phone, bank account, or card. To send money, select PesaLink from your bank’s channel or device menu and choose any of the options provided.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

View other posts by Soko Directory Team