BUSINESSNews

Absa Bank increases transaction limits on Timiza to Ksh.250,000


Absa Bank Kenya PLC has today announced an increase in transaction limits on its Timiza wallet.

Under the new changes, the maximum amount that one can transact in a single transaction on Timiza has been raised to KES 250,000 from KES 150,000. At the same time, the daily transaction limit has been increased to KES 500,000 from KES 300,000.

Making the announcement, Absa Bank Kenya’s Head of Digital Channels, Steve Omamo said the move is in line with recent changes in mobile money transaction limits and evolving 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. 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,” Omamo said.

“By implementing the increase in transaction limits, we are 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 added.

Under its new horizon business strategy, the bank’s priority is to become a consumer financial services business that is fit for the modern-day by benchmarking its consumer business to what the market offers and what consumers need, thereby ensuring that the business is connected to present and evolving consumer needs.

A critical strategic agenda under this new strategy is establishing best in class customer experience and digital propositions while modernising Absa’s systems towards cutting edge, cloud-based technologies.

The announcement comes months after Absa Bank unveiled an Automated Teller Machine (ATM) withdrawal option on Timiza to allow subscribers to withdraw funds from any Absa Bank ATM across the country.

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