Have you ever asked yourself where M-Pesa balances belonging to deceased persons go after their death?
Since the introduction of M-Pesa and other mobile banking services, lives of Kenyans have greatly changed.
However, many Kenyans have been questioning where M-Pesa and M-Shwari balances for individuals who die under different circumstances are channelled.
It is a clear fact that this money goes somewhere.
Think about someone who dies in a motorbike or car accident and no one knows if he or she has money in the account.
Well, Safaricom’s policy on M-Pesa and M-Shwari states that the balances should be maintained in the account of the deceased until someone claims the same.
You can only claim this money if you are the executor of the will or personal representative.
During the claim, you are expected to present a letter or administration or grant of probate from any court of law in the country.
Once you have these documents, you can fill claim forms found in retail shops in different parts of the nation.
Upon fulfilling all the stated conditions, the money will be paid to you at the end of the day.
If no one claims the money within a period of two years, the Kenyan law requires that Safaricom pays these balances to the government through the Unclaimed Financial Assets Authority.