With Equitel, Sending money is FREE! The new mobile money service has lower money transfer charges than Mpesa Kenya. Mobile banking in Kenya has become more competitive, which is good news to Mpesa users.
Unlike current Mpesa rates, Equitel has NO charges for checking account balance and for cash deposits. Users are not charged to send money to their accounts. Enjoy free transfers to any Equity account(s) of up to Ksh 300,000 per transaction, with the maximum daily transfer set at Ksh 1 million.
Going by these rates, anyone can predict the new mobile money platform will be very popular. Most Kenyans use MPesa to send and receive small amounts of money, and they will benefit immensely from the zero charges for all deposits on Equitel and the reduced sending tariffs and charges.
It is also cheaper to make international calls. Users are reporting unbelievably low tariffs for calls within East Africa (4 bob per minute compared to Safaricom’s 25 bob per minute). An SMS costs just Ksh 1 across all networks in Kenya. Below are the latest Equitel rates and charges 2016.
Equitel charges, Tariffs and Rates -Transaction Fees
- Check Balance: Ksh 0
- All Deposits: Ksh 0
- Send Money to any Equitel or Orange Money number: Ksh 0
- Pay bills: Ksh 0 (water bills, KPLC bill, digital TV, HELB etc)
- Here are the latest official Equitel Kenya charges and transaction rates.
|SEND TO AIRTEL MONEY / MPESA (includes Airtel/Mpesa charges)|
|TRANSACTION RANGE (KSHS)||SEND TO EQUITEL/ORANGE MONEY (KSHS)||CHARGES BY EQUITEL
|CHARGES BY OTHER
NETWORKS (TAX INCL) (KSHS)
|TOTAL CHARGE (KSHS)|
|50 – 100||0||1.10||33.00||34.10|
|101 – 500||0||5.50||33.00||38.50|
|501 – 1000||0||11.00||33.00||44.00|
|1,001 – 1,500||0||16.50||33.00||49.50|
|1,501 – 35,000||0||27.50||33.00||60.50|
Other Equitel Tariffs and Services
- Purchase airtime and data bundles for any network. (See the data bundles rates here)
- You can apply for a loan using Equitel (just like in a bank)
- You can make withdrawals at any Equity ATM
- Get account balance for free via test SMS and e-mail.
- All the usual Mpesa services such as changing the PIN code
- No charges to send cash to your Equity bank account
Equitel Mobile Virtual Network Operator (MVNO)
Equitel has been licensed by the Communications Authority of Kenya (CA) to operate as a Mobile Virtual Network Operator (MVNO) in Kenya, and approved by the Central Bank of Kenya (CBK) to offer money transfer services.
An MVNO is just another mobile network operator with its own unique products and services but which relies on another operator’s network (base stations/ masts).
Equitel is riding on the Airtel network, with plans to enter every African country where Airtel has a network. The market dominance by Safaricom has left the other mobile operators (Airtel, TelKom, Orange) with un-used network capacity, enabling MVNOs to operate through them.
Equitel Network Coverage
Because Equitel will be operating as an MVNO, its network quality and penetration will be equal to that of Airtel. Both will share Airtel’s network strengths and weaknesses.
Airtel has a strong network already, thereby giving Equitel Kenya a nation-wide coverage.
Equitel Thin SIM
Kenyans will have a choice between acquiring the normal SIM card or the “THIN” SIM that is attached to the normal SIM. Taisys’ unique and patented Thin SIM technology allows a single-line phone to work like a duo-SIM phone. The ultra-thin SIM is attached to the normal SIM, and the user can opt for an automatic or manual SIM card selection.
The two SIM cards do not exchange any data, making the technology very secure. Any Kenyan with an active account at Equity Bank can obtain an Equitel SIM card. Then get it activated and connected to your Equity Bank account at your nearest Equity Bank branch.