WHAT HAPPENS TO YOUR MPESA WHEN YOU DIE?

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Lifeist

Village Elder
#1
DO YOU KNOW WHAT HAPPENS TO M-PESA MONEY
WHEN SOMEBODY DIES???

It is a question that has been running through the
minds of most Kenyans who use mobile money
services: What happens to the money held in an
account of a loved who has passed on?
Safaricom, finally, have an answer. According to
‘Safaricom Blogger’, the funds held in M-Pesa
accounts can be passed on to a customer’s next of
kin once claims from the beneficiary are validated.
“We require that the next of kin should visit any
Safaricom Shop and provide certain documents for
inspection and approval before any funds can be
released,” a post on the company’s website says.
The documents to be provided depend on the
circumstance of the death. Where an M-Pesa
subscriber dies and has written a will, the next of
kin will be required to present to Safaricom copies
of the death certificate, ID of next of kin and
grant of probate.
Where an M-Pesa subscriber dies without a will, the
next of kin will be required to present letters of
administration.
These conditions are mandatory for accounts with
more than Sh30,000.
For M-Pesa accounts holding less than Sh30,000,
you will need an affidavit administered by a
Commissioner for Oaths and sworn by the claimant,
death certificate (not burial permit), a letter
from provincial administration of the deceased’s
area of residence or letters of administration and
the next of kin’s ID and copy to be retained.
“However in cases of dispute, the next of kin will
be required to provide letters of administrations
or grant of probate,” the post further says. And if
the next of kin does not claim the money, the
company remits the funds to the Unclaimed
Financial Assets Authority (UFAA) as required by
law.
“The funds submitted to the UFAA are those that
have been dormant for a period of two years
either due to inactivity on the M-Pesa Account or
where a customer is deceased and the funds have
not been claimed by the next of kin,”
adds Safaricom.
“Where funds have been submitted to the UFAA
the next of kin can still claim them from the UFAA
by filing a claim with them. The next of kin will be
required to provide certain documentation as will
be advised by UFAA."
NOW YOU KNOW.

****copy pasted

Mbisha ndio hio! FB_IMG_1436639592765.jpg
 
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MBOMB

Village Sponsor
#9
@weed too much hustle....they assume everybody stays in the CBD....I think what they are doing is putting "hurdles" so that people are discouraged from making a follow up. Am sure they are holding Billions in that "suspense " account.
 
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