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Get to know M-Pesa

1. What is M-Pesa?

 

ICICI Bank and MCSL, a Vodafone group company, jointly present ‘M-Pesa’ a mobile money transfer service. This is an exclusive service for Vodafone subscribers. On applying for M-Pesa, customers get a mobile wallet issued by MCSL called ‘MCSL Wallet’ and also a Mobile Money Account with ICICI Bank. The Wallet and the Mobile Money Account are inter-operable and allow movement of money between both accounts seamlessly.


2. Who is a Registered User?

 

Registered M-Pesa users are customers who have a SIM on which they are registered at agents store and sign the terms and conditions document for the M-Pesa services and can do transactions via IVR/ USSD. They need a PIN to access their M-Pesa account. Money is received in M-Pesa account and the customers can withdraw it any time and in any amount. M-Pesa customers can do all transactions like sending money, withdraw, buy airtime, change PIN etc. 


3. Who is an Unregistered User?

 

Unregistered M-Pesa users are customers who are not registered for the M-Pesa services and cannot do transactions via IVR/ USSD. They may be subscribers of Vodafone or any another mobile operator. They can withdraw money only if the voucher code received via SMS along with identity proof is available.


4. What can I do with M-Pesa?

 

You can send money to family and friends, recharge prepaid connection, pay postpaid bills, pay utility bills, pay for your shopping and much more with M-Pesa.


5. Who can use M-Pesa?

 

It can be used by Vodafone prepaid and postpaid mobile subscribers as well as any subscribers of other operators in India.


6. Do I need a GPRS enabled handset or a smart phone?

 

No. M-Pesa works on any mobile model/ handset. You do not need GPRS or a data plan. You just have to dial *400# and you will be able to use the menu.


7. Can anybody apply for M-Pesa? Can I have multiple accounts?

 

Any Indian resident who is 18 years and above can apply for M-Pesa. One person can have only one M-Pesa Account in his or her name.


8. What can I give as KYC documents for M-Pesa Account registration?

 

We need a documentary proof of your identity, address, a coloured passport size photograph and signature. Please bring the originals of proof of identity and address to the agent store for verification. This can be obtained from one document (Passport or Driving Licence) or through a combination of documents listed below PAN Card/ Voter's ID/ Valid ID cards from government departments/ marriage certificate/ utility bills (Electricity/ telephone)/ gas connection book/ municipal corporation bill/ letter from Housing Society (Only for the owners)/ Registered leave and Licence agreement (for tenants)/ credit card bill/ bank account statement (not older than three months)/ bank pass book/ wealth or income or sales or Service Tax Assessment order/ Life insurance premium receipt/ Registered Sale deed (for owners) and others.


9. Where all can I use M-Pesa?

 

Presently, you can use M-Pesa at all our Vodafone stores and authorised M-Pesa agents across all states in India.


10. Can I get a chequebook or account statement for my M-Pesa Account?

 

No. You will not get any cheque book for M-Pesa Account. You can get your last 5 transactions by dialing *400#. You can also call our Customer Care and request for a detailed account statement.


11. Can I visit ICICI Bank branch or ATM for accessing M-Pesa Account?

 

No. You can access your account directly through your mobile phone by dialing *400#.


12. I already have an ICICI Bank Account. Can I apply for M-Pesa Account?

 

Yes, you can apply for M-Pesa Account. As M-Pesa is a separate account from your ICICI Bank Account, you need to submit fresh set of documents for KYC and register for M-Pesa Account.


13. What is the maximum amount that I can hold as balance?

 

Maximum balance at any time for an M-Pesa Account is Rs. 1,00,000 for a KYC compliant customer.


14. What is maximum amount of cash that I can deposit in my account?

 

The maximum amount that you can deposit per day is Rs. 50,000 for KYC compliant customer.


15. What is the maximum amount that I can spend?

 

You can spend a maximum of Rs. 5,000 per transaction from your M-Pesa Account.


16. What is the maximum amount that I can send?

 

You can send a maximum of Rs. 5,000 per transaction to another M-Pesa customer. However, the sum total of money spent and sent in a particular day cannot exceed Rs. 50,000 for KYC compliant customer.


17. What is the minimum amount that I can send?

 

The minimum amount you can send at a time is Re. 1.


18. Is there a minimum balance requirement?

 

No, there is no minimum balance requirement. A customer is charged inactivity charges of Rs. 50 + GST if the account is inactive for a period of six months which is based on transactions you do.