Taking your money out
What you learn in 3 minutesThis lesson shows the route a withdrawal takes from a trading account back to your phone or bank, and how long each step can hold your money. You will see two cases: one where the money arrives, and one where it does not. The difference is almost never the market. It is paperwork and timing.
Withdrawing KSh 54,250 by M-Pesa
| Step | Amount | Note |
|---|---|---|
| Account balance | KSh 60,000 | your own figure before any request |
| Amount requested | KSh 54,250 | the amount you type into the withdrawal form |
| Broker processing fee | KSh 250 | varies between brokers, so check yours |
| Amount released | KSh 54,000 | KSh 54,250 minus KSh 250 |
| Time to internal check | same working day | the broker matches the request to your account |
| Time to compliance review | 1 to 3 working days | identity and source-of-funds documents are checked |
| Time to payment release | 1 working day | the broker sends the money to the payment provider |
| Time to M-Pesa arrival | minutes to 1 working day | depends on the mobile money network |
| Total time | 2 to 5 working days | adding the steps above |
The broker may round the amount, charge a currency conversion if your account is not in KES, or quote a different fee for bank transfer. A bank transfer can take longer than M-Pesa.
The mistake people make here
Many people request a withdrawal and then trade again before the money leaves. That can push the balance below the requested amount, and the request is cancelled or reduced. Others send a withdrawal request without checking that their identity document is still valid. Compliance then holds the money while it asks for a new copy. Before you request, stop trading on that account, confirm your documents are current, and check the fee and the limit for your chosen method.Check yourself
You request KSh 30,000 by bank transfer. The broker charges KSh 400 and the bank charges KSh 150. How much arrives?
KSh 30,000 minus KSh 400 minus KSh 150 equals KSh 29,450.
Your balance is KSh 12,000 and you request KSh 12,000. The broker fee is KSh 200. What happens?
The request is more than the balance after the fee. You can only withdraw KSh 11,800, or the request is reduced or cancelled.
A withdrawal is held for 3 working days for compliance. The broker then releases it in 1 working day, and M-Pesa takes 1 working day. What is the total?
3 plus 1 plus 1 equals 5 working days.
In Kenya
- Regulator
- CMA
- Common withdrawal methods
- M-Pesa and bank transfer
- Money
- shilling, written KSh (KES)
- Typical hold for compliance
- 1 to 3 working days, but this varies between brokers
- Identity check
- a valid document is usually required before any withdrawal