The Cooperative Bank of Kenya has heeded pressure raised by internet users to slash or lower its charges on airtime purchases by its subscribers.
In the new directive, airtime below Ksh. 100 be free to transact, compared to the previous case where people buying airtime through the bank had to pay transaction costs more than the value of the airtime.
For the purchase of Ksh. 10, subscribers were charged Ksh. 10 and an additional Ksh. 2 on excise duty.
Read: Cooperative Bank On The Spot Over SMS Alert Charges
However, charges for airtime between Ksh. 101 and 150 will be Ksh. 5, with charges increasing with the increase in the value of airtime.
See below the new charges;
Co-Op Bank has been at loggerheads with its subscribers, who have accused the lender of charging them unrealistic amounts even for little services like alerts.
Last week, the bank was compelled to clarify how to stop receiving SMS alerts which cost them Ksh. 42 each.
The higher charges on transactions have come into the limelight after the Central Bank of Kenya announced the resumption of charges on transactions between banks and mobile money services.
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