I&M Bank Paybill Failure Scandal: How Many More Will Lose Their Money Before Action Is Taken?

We combed through hundreds of complaints across platforms—X (formerly Twitter), Facebook, WhatsApp groups, and even business forums. Here's what we found:

• Over 70 unique complaints have been documented online between July 15 and July 20, 2025, tied specifically to failed Paybill transactions involving I&M Bank.

• The average transaction value reported is KES 4,300.

• That means an estimated KES 301,000+ is currently unaccounted for—funds deducted from users but never reaching recipients.

• Many complaints are from businesses and schools—indicating institutional disruptions, not just personal inconvenience.

• 40% of the complaints involve payment delays of over 5 days, despite I&M’s claim that services are back to normal.

These are not one-off errors. This is systemic failure.

Customer Care or Customer Silence?

I&M Bank’s customer care policy promises a response within 7 working days for general queries and 5 working days for escalations. In reality:

• 72% of complainants said they had received no response even after submitting complaints multiple times.

• Users calling the listed hotline numbers (+254 20 322 1000, 0719 088 000, 0732 100 000) report wait times of over 20 minutes, with no follow-ups or callbacks.

• Email queries to [email protected] are bouncing back or receiving generic template replies without ticket numbers or tracking systems.

This isn’t customer support. It’s a dead end.

Broken Trust in a Fragile Economy

Kenya processes over KES 6.7 billion daily via mobile money, and Paybill is a critical channel for that flow. A single bank’s failure threatens a fragile but vital ecosystem.

• SMEs, parents paying school fees, landlords, utility bills—all depend on instant, trackable transfers.

• When transactions fail, the financial impact goes beyond lost money. Businesses suffer operational breakdowns. Schools cannot reconcile fees. Households are thrown into chaos.

Banks are custodians of public trust. If that trust breaks, so does the system.

I&M’s Response: Empty Words, No Action

I&M Bank has issued a vague statement saying “mobile money transfer services have been restored to normalcy.”

But:

• No apology to specific victims.

• No public list of affected transactions.

• No commitment to compensation or reimbursement timelines.

• No admission of root cause or system audit results.

In a regulated industry, this level of opacity is unacceptable. Clients have a right to know where their money is, and why the bank failed.

What Must Be Done—Now

This situation cannot be resolved by PR spin. I&M Bank must immediately:

1. Disclose the total number of failed Paybill transactions, with a breakdown of amounts and timelines.

2. Open a dedicated emergency resolution desk, staffed with senior support agents and real-time ticket tracking.

3. Automatically reverse or compensate all unresolved transactions within 48 hours.

4. Send SMS and email confirmations for all pending and processed transactions, retroactively and going forward.

5. Conduct a public-facing system audit, detailing what went wrong, and how it will be prevented in future.

6. Be accountable to the CBK and the public, not just shareholders.

What You Should Do If Affected

If your transaction failed:

• Save all transaction details: date, amount, Paybill number, confirmation code, and your M-Pesa message.

• Report the issue to [email protected] and CC [email protected].

• Call the hotlines but demand a reference number for follow-up.

• If no action is taken within 48 hours, file a formal complaint with the Central Bank of Kenya through their Consumer Protection Division.

• Consider logging your case on public forums and tagging the bank on social media to create visibility.

KBN Verdict: This Is a National Risk

Banking failures are not just operational—they are reputational. When money goes missing and banks go quiet, the public starts to lose confidence not just in one institution, but in the entire system.

I&M Bank’s silence is not just a branding issue. It is a regulatory risk, a consumer protection failure, and a time bomb waiting to explode.

KBN will continue to track this story. We are already receiving testimonies and compiling evidence for a potential class action dossier. If I&M Bank refuses to step up, the public must force their hand.

Are You Affected? Speak Up. KBN Will Amplify Your Voice.

Submit your experience anonymously or publicly. We are tracking cases and may begin legal and journalistic escalation on behalf of those impacted.