Absa raises daily transaction cap on Timiza to Sh500,000

Absa Bank Kenya has announced an increase in transaction limits on its Timiza wallet, offering customers the chance to transact up to Kes500,000 per day. The move is aimed at offering customers more flexibility and convenience in managing their finances.

With these new changes, the maximum amount one can transact in a single transaction on Timiza has been raised to Kes250,000 from Kes150,000. Additionally, the daily transaction limit has been increased to Kes500,000 from Kes300,000.

Steve Omamo, Head of Digital Channels at Absa Bank Kenya, notes that this move aligns with recent adjustments in mobile money transaction limits and changing consumer preferences

“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,” Omamo said.

“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,” he added.

Read also: Rising revenue pushes Absa’s profit up 32 percent to Sh8.3 billion

Consumer financial services

As part of its new horizon business strategy, the bank’s primary focus is transforming into a consumer financial services business that is attuned to the demands of the modern era. To achieve this, they are aligning their consumer business with market trends and customer needs, ensuring it remains responsive to the evolving consumer landscape.

A central element of this strategy is the pursuit of top-tier customer experiences and the development of cutting-edge digital solutions. Simultaneously, the bank is actively modernizing its systems by embracing state-of-the-art, cloud-based technologies.

This announcement follows Absa Bank’s recent introduction of an Automated Teller Machine (ATM) withdrawal option on Timiza, enabling subscribers to conveniently access their funds from any Absa Bank ATM across the country.

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