I&M Bank has permanently dropped Bank-to-Mobile transaction fees gifting huge relief to its customers who make their transactions with the Bank.
The Bank’s decision to drop Bank-to-Mobile transaction fees means that they will not experience any fees when sending money to M-Pesa, T-Kash, or Airtel Money, effectively making it the only bank that does so.
The move is likely to be welcomed by I&M Bank’s customers, as it will make it easier and more affordable for them to manage finances and make payments smoothly.
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It is worth noting that the decision may also be part of a wider trend in the Banking industry, as many Banks are looking for ways to compete with M-Pesa providers who have become increasingly popular in recent years.
By offering free Bank-to-Mobile transactions, I&M Bank may be hoping to attract new customers and retain existing ones who might otherwise be tempted to use M-Pesa for their transactions.
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The decision is likely to be seen as a positive showcase by I&M Bank’s customers and may help the bank to stay competitive in an increasingly crowded market.
