Absa Bank Kenya on Friday announced that it has revised its transaction limits for account-to-mobile wallet transfers, reducing the maximum per transaction amount to Ksh.150,000 from the previous Ksh.500,000.
In a notice to its customers, the bank also announced a reduction in the daily transaction limit, which now stands at Ksh.300,000.
The changes represent a significant adjustment for customers who regularly transfer funds to mobile wallets.
Absa Bank has also announced that Absa-to-Absa account transfers has also been reviewed to a daily maximum limit of Ksh.500,000.
The bank has not provided a clear explanation for the reduction in these limits.
Statement from Absa
”This decision was taken purely in the interest of enhancing the security and safety customer transactions. Customers can still transact to their maximum limit of 500k on our other channels including the Absa App, Absa Online Banking and Pesa Link. Our liquidity ratios are well above regulatory requirements.” the bank says.
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