ABSA Bank Kenya has increased the transaction limit on its Timiza Wallet to Ksh500,000 from a previous cap of Ksh300,000.
As a result, the lender seeks to offer its customers greater flexibility and convenience in managing their finances.
Absa has also raised the single transaction limit on Timiza to Ksh250,000 from a previous limit of Ksh150,000.
Absa Bank Kenya’s head of digital channels Steve Omamo noted that the move is in line with the recent changes in mobile money transaction limits and evolving consumer needs, following a nod by the sector regulator the Central Bank of Kenya (CBK).
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“As Absa, we aim to ensure that our customers can do more on our platforms as we strive to provide them with the best possible service and competitive products,” said Omamo.
“Our key priority remains to become a truly customer-obsessed financial institution that places the customer at the centre of every decision, giving them a voice and a platform to shape Absa’s products and services with their evolving needs in mind,” he added.
Read: CBK Increases Daily Mobile Money Transaction Limit, Mobile Wallet To Ksh250,00 And Ksh500,000
“By implementing the increase in transaction limits, we are conscious of the need to be responsive to customer needs but also the growing need to transform into a digitally powered business. It will also make banking on the go more efficient and convenient for our customers.”
This announcement comes months after Absa Bank unveiled an Automated Teller Machine (ATM) withdrawal option on Timiza to allow subscribers to withdraw funds from any Absa Bank ATM across the country.