M-pesa to Stanbic Bank Kenya Transfer and The Paybill Number to Use

Knowing how to transfer money to a Stanbic Bank Kenya account using the popular M-Pesa service is one thing every customer of the bank needs to know about. If you are in need of this information, we have simplified it for you. This piece explores how to transfer funds to your Stanbic Bank Kenya account using M-Pesa, as well as what PayBill number to use and how much you will be charged for the service.

In today’s world, life has been made a lot easier with all the technological advancements. From transportation to entertainment and sports, every sector has felt a taste of the goodness of technology, and even financial dealings are not left out. Today, taking part in business dealings has been thoroughly simplified for everyone, especially because of the advent of digital banking apps, as well as the introduction of Unstructured Supplementary Service Data (USSD) codes. Also, different services and mobile wallets such as M-Pesa now play quite a huge part in making financial transactions as simple as eating breakfast.

Everything You Need To Know About The M-Pesa Service

You may have heard about the popular M-Pesa service before and may have used it. But do you have any idea who is behind its introduction or when it came into existence? So, M-Pesa is a phone-based banking service that has become very useful in carrying out micro-financing services, including money transfers to different banks like the Stanbic Bank Kenya and others.

For the record, M-Pesa is owned by the Vodafone Group plc. The service was launched in the year 2007 by the Vodafone Group in collaboration with Safaricom, which is now the largest mobile network operator in Kenya. Following its launch, the M-Pesa service has grown really huge, expanding to other countries around the African continent and beyond. The service now operates in countries like Ghana, Lesotho, Tanzania, Mozambique, Egypt, South Africa, DRC, and even Afghanistan.

Stanbic Bank Kenya
Stanbic Bank Kenya

The Stanbic Bank Kenya PayBill Number To Use For M-Pesa Transactions

One very important piece of information you need to have at the back of your mind is that before you can use M-Pesa to send money to Stanbic Bank Kenya or any other bank for that matter, you must know the PayBill number to use. This is because, without a PayBill number, you will not be able to carry out any transaction on M-Pesa.

The PayBill number is important because it is a specially designed cash collection service that has been created to enable different banks to collect monies from their customers through the M-PESA service on a regular basis. This means that all the banks that are currently listed on the M-Pesa service, including Stanbic Bank Kenya, have their own PayBill numbers that have especially been personalized for their customers to enable them to make their M-Pesa transactions. As for Stanbic Bank Kenya, the PayBill number to use for transactions is 600100.

How To Send Money To Stanbic Bank Kenya Using M-Pesa

Take note that transferring money to Stanbic Bank Kenya using the M-Pesa service is very simple and the process can be completed by following a few steps. So, after you have gotten the Stanbic Bank Kenya PayBill number, all you need to do is follow the steps listed below:

  1. Open the ‘M-Pesa Menu’ on your phone
  2. When the menu opens up, select the “Lipa na Mpesa” option to continue
  3. Proceed to select ‘PayBill’ on the list of options on your screen
  4. Next, you will be asked to insert your PayBill number. When this happens, just go on and type the Stanbic Bank Kenya PayBill number 600100 into the space provided and press enter.
  5. When you have inserted the PayBill number, you will be asked to provide the account number where you want the money to be sent. Just enter your Stanbic Bank Kenya account number into the space provided to continue
  6. Indicate the amount of money you want to transfer to the account number you have entered by typing the figure into the space provided
  7. Insert your M-Pesa PIN afterward
  8. Meticulously go through all the details that you have provided so far and carefully confirm if they are all correct before you finalize the procedure
  9. After confirming the details, you will receive two confirmation messages for the transaction; one from M-Pesa and the other from the National Bank of Kenya, both confirming that your account has been credited with the amount you sent

Are There Fees Involved?

Beware that making transactions using M-Pesa may cost you some money. Take note that if you are transferring between 1 to 100 Ksh with the service, you will not be charged any fee at all. However, you will be charged for other transactions upward.

Below are the other charges:

  • 101 Ksh to 500 Ksh will cost you 6 Ksh
  • 501 Ksh to 1,000 Ksh will cost you 12 Ksh
  • 1,001 Ksh to 1,500 Ksh will cost you 22 Ksh
  • 1,501 Ksh to 2,500 Ksh will cost you 32 Ksh
  • 2,501 Ksh to 3,500 Ksh will cost you 51 Ksh
  • 3,500 Ksh to 5,000 Ksh will cost you 55 Ksh
  • 5,001 Ksh to 7,500 Ksh will cost you 75 Ksh
  • 7,5001 Ksh to 10,000 Ksh will cost you 87 Ksh
  • 10,001 to 15,000 Ksh will cost you 97 Ksh
  • 15,001 Ksh to 20,000 Ksh will cost you 102 Ksh
  • 20,001 Ksh to 35,000 Ksh will cost you 105 Ksh

Requirements You Have To Meet To Use M-Pesa

Using the M-Pesa service is quite simple, however, you must meet some requirements before you can use it. Some of these requirements are listed below:

  • To use M-Pesa, you must be a Vodafone or Safaricom user. This is so because the M-Pesa service is run by these networks.
  • To enjoy the M-Pesa service, you must be resident in one of Vodafone’s M-Pesa markets. Take note that, right now, M-Pesa markets are located in Ghana, Lesotho, Tanzania, Mozambique, Egypt, South Africa, DRC, and even Afghanistan.
  • Finally, to enjoy the service, you will need to open an M-Pesa account.

How To Open An M-Pesa Account

Needless to say, before you can enjoy the M-Pesa service, you must first register for it. However, do not panic because it is quite an easy process to register for M-Pesa. All you need to do follow these steps:

  • Visit an M-Pesa agent or a Safaricom Retail Centre
  • When you get there, just hand the agents your mobile phone with a Safaricom SIM card, as well as a valid Identification Card.
  • With your SIM and ID card, the M-Pesa agents you meet will get to work immediately to get you registered.
  • When the agent is done registering you, you will get a confirmation message from the M-PESA service that the registration was successful.
  • Also, you will receive a PIN with which you can activate M-PESA on your phone.
  • After confirming that the agent has successfully registered you for the M-Pesa service, the next step is to activate the service on your mobile phone. Kindly note that you can activate the M-Pesa service on your mobile device using the 4-digit M-Pesa PIN that was sent by SMS after your initial registration.

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