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When the PB Power Bank app hit the Google Play Store around 2021, it had one goal in mind for its users. It allowed users to make money online by performing short tasks. Once a user completes a job, they would, in turn, get paid. The app primarily targeted Kenyans who owned smartphones and wanted to use their free time on the internet to generate some income. But was this app legit, or was it another scam that duped unsuspecting users?
The PB Power Bank app had the concept of a sharing economy. It claimed to have cooperated with several local supermarkets and shopping malls. So, if you wanted to charge your phone, you would use the app to find a charging station or power bank device. Then, you would have to hire a power bank to charge your phone.
In return, the entity or individual renting out their resources would gain the income you pay. Unfortunately, while the concept was straightforward, its implementation was not well executed, especially in Kenya.
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The app works in different methods. First, it used referrals whereby a user would refer a paying individual to the app. If the individual makes a payment, the user receives a small commission. Once a user deposits cash into the app, they would earn significant interest on their deposit.
The app has eight deposit options, Ksh 800, Ksh 2,000, Ksh 4,000, Ksh 8,000, Ksh 10,000, Ksh 20,000, Ksh 30,000, and Ksh 50,000. It also has a free option for users who want to make money through referrals or completing tasks. Also, the PB Power app allows users to deposit large amounts, including Ksh 100,000, Ksh 150,000, Ksh 200,000, and Ksh 300,000.
The amount of money a user makes from PB Power bank depends on their deposit amount. For example, users who do not deposit any amount make a commission of Ksh 10 after completing simple tasks. However, you cannot withdraw the money until you invest. But if you deposit at least Ksh 2,000, here is how much you will earn:
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From the above figures earning from the Power Bank app looks easy. Also, the application gives users daily returns of between 6% and 9% daily. But each Power Bank set comes with a contract period of 90 days. However, a refund of the contract is available after the 90-day expiration.
Depositing money to the PB Power Bank app is straightforward. Here is how:
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The online money Power Bank app is not real. In Kenya, it was a scam that made many people lose thousands of their money. Initially, users could deposit and withdraw money using their mobile phones, particularly Safaricom’s M-PESA, without issues.
Issues emerged with both deposits and withdrawals. Besides, the app built the entire concept around a pyramid scheme. However, here is why it is a big scam:
A pyramid scheme allows unscrupulous individuals or entities to make money by recruiting as many investors as possible. So, the app allowed users to invite as many other users as possible. Then, after inviting new users, one only gets paid after the new users deposit into the app. That was the first glance of a system about to con people.
Even after inviting paying users and making a commission, the PB Power Bank app scam prevented them from withdrawing their commissions. A person could only withdraw after making a deposit or investing in a Power Bank product.
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The daily income offered by the PB Power Bank app was outrageous. No entity worldwide provides a 6% interest rate daily. In Kenya, most financial institutions offer interest rates of about 8% on customer deposits. And when you factor in inflation, the interest rate goes down drastically.
The considerable interest rate means PB Power Bank was not making any money from user deposits. And even if the app was legit and offered such huge returns, it was bound to fail because PB Bank depended on user deposits to make profits.
For initial Kenyan users who could withdraw, it took around four or more hours to have their money in their mobile phones. That was suspicious because M-PESA transactions happen almost instantly.
After depositing money, many Kenyans could see that they had enough cash in their PB Power Bank accounts. However, trouble started when they went to their accounts to withdraw their money. Nobody could withdraw their cash. Upon inquiry from PB Power Bank, the app blamed the M-PESA payment company for suspending its collection and payment business without proper reason.
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As a result, the app could no longer continue its business operations, and customers could not complete payments, including transfers. Many users tried to inquire from Safaricom whether it had an issue with PB Power Bank.
Safaricom had nothing to do with the company’s mishap. Since then, nobody in Kenya has used the PB Power Bank app. Instead, the app rebranded to Charge Anytime and targeted Ugandans in early 2022. However, Ugandans also soon found out that the app was a scam.
The PB Power Bank app came to the Kenyan market to help users earn money online. One could deposit as little as Ksh 800 to as much as Ksh 300,000 and earn an interest rate between 6% and 9% daily. But after several months of taking user deposits, the app became a scam. It also rebranded to Charge Anytime to target Ugandans who later got scammed by the same scheme.
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Tuko.co.ke published an article about online jobs in Kenya that pay through M-Pesa in 2022. One of the most popular trends in today's society is online work. Unlike conventional jobs, working online eliminates the need for physical employer-employee interaction, resulting in numerous advantages for both parties.
For Kenyans, there are wide-ranging online jobs that pay via M-Pesa, making the entire process quite convenient in terms of payments. Receiving your payments via M-Pesa eliminates the delays and inconveniences associated with some other money transfer options. Online paying jobs include freelance writing, virtual assistant, flipping website and others.
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Subscribe to our newsletter and stand a chance to win TUKO branded gifts!
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