MUST READ:WHAT HAPPENS TO THE MONEY IN YOUR MPESA ACCOUNT WHEN YOU DIE?

These conditions are compulsory for accounts with more than Sh30,000.

The money is then paid to them.

If money is not claimed within two years, then the law requires us to pay the balances in those accounts to the Unclaimed Financial Assets Authority, which is a government institution.

in early 2015, the Telecoms operator handed over KSh500 million to the Unclaimed Financial Assets Authority (UFAA). The money was from idle deposits in different M-Pesa accounts held in phone lines that have been inactive for more than two years.

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