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bankelele

• March 06, 2009
• Kenya Bank Charges

  Posted: March 6th, 2009, 9:24am CST

  Tags:  bank charges  

  Late in February 2009, the Central Bank of Kenya released their bank charges survey (PDF). The earlier comments after the last survey still apply mainly:
  
  1 It’s a good read
  2 Customer satisfaction/service should be measured (it’s not just about costs)
  3 Savings accounts do attract charges (any pay very little interest)
  
  Banking will probably get cheaper as banks adapt to competition from mobile companies –i.e. Safaricom M-Pesa and Zap from Zain which are becoming become mini e-wallets.
  
  Also found was a recent article on avoidable bank charges - which were:
  
  1 overdraft fees
  2 ATM fees (that means avoid pesa point and Visa charges)
  3 Minimum balance fees