Absa Bank Kenya on Thursday announced an increase in the daily transaction limit of their mobile platform, Timiza, from KES 300,000 to KES 500,000 a day.
The bank has also increased the maximum amount one can transact in a single transaction from KES 150,000 to KES 250,000.
Absa Bank through its Head of Digital Channels Steve Omamo said that the changes were in line with the recent changes in mobile money transaction limits and developing consumer needs.
“As Absa, we aim to ensure that our customers can do more on our platforms as we strive to provide them with the best possible service and competitive products,” he said.
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“Our key priority remains to become a truly customer-obsessed financial institution that places the customer at the centre of every decision giving them a voice and a platform to shape Absa’s products and services with their evolving needs in mind,” he added.
He stated that by implementing the transaction limit changes, Absa is conscious of the need to be responsive to customer needs but also the growing need to transform into a digitally powered business. “It will also make banking on the go more efficient and convenient for our customers ,” he said.
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The announcements comes months after Absa Bank unveiled an Automated Teller Machine withdrawal option on Timiza to allow subscribers to withdraw funds from any Absa Bank ATM across the country.
Last month leading Telcos Airtel and Safaricom reviewed their daily total transaction limits on their mobile wallets from KES 300,000 to KES 500,000 after they obtained a nod from the Central Bank of Kenya
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