What are the wallet fees?
The Mukuru Wallet offers a variety of transaction types, each with its own fee structure. Understanding these fees is crucial for customers to make informed decisions about using the wallet. Below is a detailed breakdown of the transaction types and their associated fees:
Transaction Types and Fees
Cash In:
Fee: Free
Customers can load money into their Mukuru Wallet without incurring any charges.
Send Money Internationally:
Fee: Variable
The fee for sending money internationally varies depending on the destination and amount.
Send to a Mukuru Wallet:
Fee:
$1.00 - $4.99 = 1.30%
$5.00 - $500 = 3.30%
Customers can send money to another Mukuru Wallet with fees based on the amount sent.
Send Cash:
Fee:
$1.00 - $4.99 = 3.00%
$5.00 - $500 = 5.00%
Sending cash incurs a higher fee compared to sending money to a Mukuru Wallet.
Cash Out: Transactional Pocket:
Fee:
1.70%
Withdrawing money from the Transactional Pocket incurs a fee of 1.70%.
Cash Out: Mahala Pocket:
Fee:
Free
Withdrawing money from the Mahala Pocket is free of charge.
Understanding these fees helps customers manage their finances more effectively and make the most of the Mukuru Wallet's features.