How to withdraw from a money market fund to M-PESA
By Arnold Ochieng · Money market funds hub · paybillke is an independent guide and is not affiliated with any fund manager.
You withdraw from an MMF through the fund's own app, USSD code or client portal, not through the M-PESA paybill. The fund sells your units and sends the cash to the M-PESA number or bank account on your file. Madison says withdrawals are processed in one working day. Ziidi is quickest because it sits inside M-PESA.
Steps that work for most funds
- Open the fund's app, USSD code or portal. Ziidi uses the M-PESA app or *334#, Cytonn *809#, Old Mutual *480# and Madison *828#.
- Choose Withdraw (some funds say Redeem) and pick the fund.
- Enter the amount and choose M-PESA as the payout method.
- Confirm with your fund PIN, not your M-PESA PIN.
- Wait for the payout SMS. If it has not come after the fund's stated time, contact the fund with your request reference.
Why a withdrawal can take longer
- It is a weekend or public holiday. Working days do not include them.
- You asked after the cut-off. Many funds process same-day requests only if they arrive before a set time.
- Your M-PESA or bank details do not match your ID. The fund holds the payout until they match.
- The fund has suspended redemptions. Fund rules allow this in rare cases, and Madison's own disclaimer says so.
Paying bills straight from a fund
Cytonn announced in September 2021 that clients can pay an M-PESA paybill directly from the Cytonn wallet, which saves moving the cash to M-PESA first for school fees or rent. Check in the Cytonn app that the feature is still offered before relying on it. For the paybills themselves see school fees.
About this page
| Fund | Channel | Payout time | Notes |
|---|---|---|---|
| Ziidi | M-PESA app, *334# | Not stated | KES 10 minimum; no M-PESA fee; locked funds take 72 hours after unlocking |
| Madison | Portal, *828# | T+1 working day | The page's own summary still says 3 working days |
| Etica | Etica app | M-PESA instant, up to KES 250,000 a day; bank within 2 working days | From Etica's September 2026 factsheet |
| Old Mutual | *480#, app, web | Not stated | 1 free withdrawal a month; more may cost a fee |
| CIC | CIC Asset app | Not stated | Not stated |
| Cytonn | App, *809#, portal | Not stated | Not stated |
Frequently asked
Can I withdraw from an MMF using the paybill?
No. The paybill is for paying in. Withdrawals go through the fund's app, USSD code or portal, and the fund sends the money to your M-PESA or bank account.
How long does an MMF withdrawal take in Kenya?
It depends on the fund. Madison says one working day. Etica says M-PESA withdrawals are instant up to KES 250,000 a day and bank transfers take up to 2 working days. Weekends and holidays add time.
Is there a fee to withdraw?
Ziidi charges no M-PESA fee to move money out. Old Mutual allows one free withdrawal a month. Check your fund's terms for others.