[kictanet] International remittances straight to your M-PESA account

[Erik Hersman]

Does anyone know what the transaction cost is for people who receive money locally?  

Erik Hersman

www.ushahidi.com | www.iHub.co.ke
www.afrigadget.com | www.whiteafrican.com | @whiteafrican




On Mar 31, 2011, at 4:31 PM, Andrea Bohnstedt wrote:

> I think that Western Union have to apply the usual provisions against moneylaundering  when accepting the money to be sent to Kenya - there is no difference between sending it to an M-PESA account or sending it to be picked up at a Western Union agent. 
> 
> As far as I remember, you only need the reference number and a password to pick up a Western Union payment - there are usually no controls with the recipient.
> 
> Also, a limit of around KES35,000 applies per transaction - you'll be sending LOADS of payments before that becomes interesting for professional moneylaunderers :) There are easier ways. 
> 
> On 31 March 2011 15:54, Odhiambo Washington <odhiambo at gmail.com> wrote:
> 
> 
> On Thu, Mar 31, 2011 at 12:29, Andrea Bohnstedt <andrea.bohnstedt at ratio-magazine.com> wrote:
> Hey all, 
> 
> Safaricom have entered a co-operation with Western Union so that remittances can be sent straight to M-PESA accounts. I haven't seen the fee structure yet (probably the usual Western Union fees), but still - great to see that Safaricom seem to have cracked the international transfers. Another global first for Kenya, I think. 
> 
> Here's the press release: 
> http://www.ratio-magazine.com/201103313887/Corporate-Press-Releases/Kenya-Press-Releases-M-PESA-to-Accept-Remittances-through-Alliance-with-Western-Union.html
> 
> 
> This is very interesting. 
> 
> How will they counter money laundering?
> 
> Will central Bank now require Safaricom to submit details of ALL transactions for the purpose of monitoring how much money came in via this medium?
>  
> 
> -- 
> Best regards,
> Odhiambo WASHINGTON,
> Nairobi,KE
> +254733744121/+254722743223
> _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 
> Damn!!
> 
> 
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