GTBank Kenya Slashes Digital Transfer Fees

By Deborah Sivyatsomana Kavira

Guaranty Trust Bank (Kenya) has eliminated fees for low-value transfers on its PesaLink platform. Now, customers sending amounts up to KSh 1,000 pay nothing, a change that directly benefits everyday users, small businesses, and informal traders who rely on fast and inexpensive transfers.

Previously, sending even small amounts incurred fees that, while modest, accumulated over time for individuals making frequent transfers. Under the new structure, transfers from KSh 1,001 to KSh 5,000 cost just KSh 5, while higher amounts continue to be charged competitively compared to traditional banking fees and mobile money services. This ensures that both low-volume users and businesses can move money efficiently without unnecessary costs.

GTBank Kenya’s management explained that the fee reduction responds to the way their customers actually use digital banking. Most transactions on PesaLink involve daily essentials, such as sending money to family members, paying local suppliers, or splitting household and business expenses. By removing fees for small transfers, the bank has addressed a common pain point while encouraging greater use of real-time digital payments.

This adjustment also reflects a wider trend in Kenya’s banking sector, where banks are racing to provide fast, low-cost, and accessible digital services. As mobile money and instant payment platforms dominate the market, banks must offer competitive pricing to retain customers and expand usage. GTBank Kenya’s move positions it as a customer-centric leader, emphasizing convenience and affordability in everyday banking.

For millions of Kenyans, this change is more than a cost-saving measure. It makes digital banking practical and accessible, allowing individuals and small businesses to manage cash flow, conduct daily operations, and support family needs without worrying about fees.

By removing the fee on small PesaLink transfers, GTBank Kenya is demonstrating a clear understanding of customer needs and the realities of everyday financial activity. The move encourages more frequent use of digital platforms, reduces reliance on cash, and strengthens trust in banking services.

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