SBM Bank Kenya & PesaLink Offer Lowest Transfer Fees

NAIROBI, Kenya - Wednesday, July 30, 2025: SBM Bank Kenya and the Integrated Payment Services Limited (IPSL) have signed a partnership that will see the Bank offer the lowest transfer fees for bulk money transfer services in the market as the Bank enhances its payments solutions services to clients.

Through the partnership, customers using IPSL’s Pesalink money transfer on SBM Mfukoni app and online banking will be able to send between KES 1 and KES 1,000 for free; and between KES 1,001 and KES 999,999 for a flat rate of KES 20 – the lowest in the market.

The campaign will provide a framework to assess customer demand, pricing sensitivity, and usage patterns with a view to extending similar pricing models across Pesalink’s broader network of banking partners in the future.

Pesalink is a 24/7, instant, and affordable payment channel that works outside traditional banking hours, even on public holidays- making it Kenya’s leading interbank transfer solution for single transfers that are under KES 1 million.

In 2024, Pesalink facilitated transactions worth over KES 1.1 trillion, with an average ticket size of KES 135,236 - translating to 8.2 million instant transactions and underpinning its growing profile as a preferred payment transfer platform particularly for businesses.

The partnership announcement comes on the back of SBM Bank’s announcement of a KES 202 million profit before tax for the half year to June 2025 against a KES 934 million loss in the same period last year – underpinning the Bank’s turnaround strategy.

The Bank's Total Assets grew to KES 105.7 billion over the same period, up from KES. 92.6 billion in the first half 2024, whilst customer deposits grew by 37 percent to KES 76.2 billion, driven by an expanding customer base and deepened relationships across key segments.

Speaking during the partnership signing, SBM Bank Kenya Chief Operating Officer, Aijaz Shalla, said:

“We are pleased to be announcing this partnership with Pesalink which will make bulk money transfer in Kenya more affordable for both retail customers and businesses, whilst still benefiting from the convenience, safety, and security offered by the Pesalink platform. This partnership aligns with our revitalized strategy and vision to become Kenya’s preferred payments bank which is digital-first and customer-centric.”

Commenting on the partnership, Integrated Payment Services Limited (IPSL), Chief Product Officer Kenn Lisudza said:

“This pilot initiative is a model for what customer-centred innovation can look like in Kenya’s digital payments landscape. Our partnership with SBM Bank reflects a broader industry movement toward standardised and transparent pricing, with the goal of scaling similar models that deliver enhanced value and simplified payments across our wider network of banking partners.”

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SBM BANK KENYA AND PESALINK INK DEAL OFFERING LOWEST TRANSFER FEES IN THE MARKET

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