Kenya Bank Fees Comparison 2026
Kenyans lose over KES 50,000 annually to hidden bank fees. This guide reveals exactly what each bank charges so you can choose wisely.
PesaMarket compares fees across all major Kenyan banks including Equity, KCB, Co-operative, NCBA, Absa, Stanbic, and I&M. The average Kenyan pays KES 4,000-6,000 per year in bank fees. Equity Bank and KCB offer the lowest-cost accounts, while some banks charge over KES 500/month in maintenance fees alone.
By PesaMarket Research Team · Last updated February 2026
Key Finding
*Based on typical usage: 4 ATM withdrawals and 2 transfers per month
Complete Fee Comparison
| Bank | Monthly Fee | ATM (Own) | ATM (Other) | Transfer | SMS Alert | Min Balance |
|---|---|---|---|---|---|---|
| Equity BankBest Value | FREE | FREE | KES 35 | KES 50 | FREE | None |
| KCB Bank | KES 100 | FREE | KES 35 | KES 55 | KES 30/mo | KES 1,000 |
| Co-operative Bank | KES 150 | FREE | KES 35 | KES 60 | KES 25/mo | KES 500 |
| I&M Bank | KES 200 | FREE | KES 40 | KES 55 | KES 25/mo | KES 1,000 |
| NCBA Bank | KES 200 | KES 30 | KES 50 | KES 75 | KES 35/mo | KES 1,000 |
| Absa Bank | KES 250 | FREE | KES 45 | KES 65 | KES 30/mo | KES 2,000 |
| Stanbic Bank | KES 300 | FREE | KES 50 | KES 80 | KES 35/mo | KES 5,000 |
| Standard Chartered | KES 400 | FREE | KES 60 | KES 100 | KES 40/mo | KES 10,000 |
Fees shown are for standard savings accounts. Premium accounts may have different fee structures. Data verified November 2026.
Hidden Fees Banks Don't Advertise
Dormant Account Fees
If your account is inactive for 12+ months, banks charge KES 100-500/month until your balance reaches zero.
Tip: Make at least one transaction every 6 months.
Below Minimum Balance
Drop below the minimum balance and pay KES 100-300/month penalty. Some banks charge this even when you're KES 1 short.
Tip: Choose banks with zero minimum balance requirements.
Statement Request Fees
Printed statements cost KES 100-500. Even email statements can cost KES 50 at some banks.
Tip: Use mobile banking apps for free statements.
Card Replacement Fees
Lost your ATM card? Expect to pay KES 300-1,000 for a replacement, plus 5-10 days waiting time.
Tip: Use mobile money as backup for emergencies.
Calculate Your Annual Bank Costs
Use our free calculator to find out exactly how much you're paying in bank fees.
Open Fee Calculator7 Ways to Reduce Bank Fees
Use your own bank's ATM
Other bank ATMs charge KES 35-60 per withdrawal. Plan ahead.
Switch to mobile banking
Most banks offer free transfers via mobile app vs KES 50-100 at branch.
Opt out of SMS alerts
Use app notifications instead. Save KES 300-500/year.
Maintain minimum balance
Avoid the monthly penalty by keeping required minimum.
Choose zero-fee accounts
Equity Bank and some digital banks offer completely free accounts.
Consolidate accounts
Multiple accounts = multiple fees. Keep only what you need.
Use M-PESA for small transfers
Often cheaper than bank transfers for amounts under KES 10,000.
Cite This Data
Journalists and researchers: This data is free to use with attribution.
Related Resources
Frequently Asked Questions
- Which bank in Kenya has the lowest fees?
- Equity Bank and KCB Bank consistently offer the lowest overall fees for retail customers. Equity's Eazzy Banking account has zero monthly maintenance fees. KCB's Cub Account is free for youth under 25. For digital-only banking, M-Shwari and KCB M-Pesa have no account maintenance fees.
- Are there free bank accounts in Kenya?
- Yes. Equity Bank offers accounts with zero monthly fees. Several banks offer free accounts for students and youth (under 25). However, even "free" accounts may charge for SMS alerts (KES 30-50/transaction), ATM withdrawals at other banks (KES 35-65), and card replacement.
- How much do Kenyan banks charge for M-Pesa transfers?
- Bank-to-M-Pesa transfer fees range from KES 0 (Equity, KCB via mobile app) to KES 197 for transfers over KES 35,000. M-Pesa-to-bank (paybill) deposits are free at most banks. The cheapest option is using the bank's own mobile app for transfers.
- What are typical ATM withdrawal charges in Kenya?
- Using your own bank's ATM is usually free or costs KES 30-35. Using another bank's ATM costs KES 35-65. Pesalink transfers (bank-to-bank via phone number) cost KES 10-50 and are often cheaper than ATM withdrawals from other banks.
- How can I reduce my bank fees in Kenya?
- Use your bank's mobile app instead of ATMs, opt out of SMS alerts if you use the app, choose an account tier that matches your transaction volume, avoid cash deposits at branches (use M-Pesa paybill instead), and compare total annual costs across banks using PesaMarket.