Tag: Co-op Bank news

Co-op Bank sets trend as it unveils new exciting feature to easily buy airtime using a short code

Posted on by Martin Oduor

Co-op Bank has continued being innovative with their mobile banking service MCo-op Cash. For starters, MCo-op Cash is a mobile banking service app that enables you to access your Co-op Bank accounts on mobile phone platform.

Basically MCo-op Cash makes it possible for you to bank anytime and anywhere. A new exciting feature on MCo-op Cash has been unveiled to allow customers to buy airtime straight from MCo-op Cash using a short code.

Co-op Bank customers can now buy airtime worth Kes 50 to Kes  999 straight from MCo-op Cash using the short code *667*Amount#

Download MCo-op Cash app on your phone and started enjoying all the services available on the mobile banking platform.

New Branch

Meanwhile Co-op Bank has opened a new branch in Kilimani. Customers from Kilimani and adjustment areas can easily access the new Co-op bank Kilimani branch located which has ample parking space.

 

 

 

This is how you can enjoy the convenience of banking in your neighborhood this Valentine’s season

Posted on by Martin Oduor

Valentine’s is not over per se, the whole month of February is usually the month of love. If you didn’t celebrate Valentine’s on February 14th you still have a chance to make up to your loved ones this month.

The good thing is that now banking services have been brought to residential areas. You don’t have to go all the way to town to withdraw money to spend or to make deposits.

Co-op Kwa Jirani Agent which are available throughout residential areas offer all the services that are offered at Co-Bank’s branches.

Variety of services

Banking at a Co-op Kwa Jirani Agent is as good as banking at a Co-op Bank branch. Services you can access include:

Cash Deposits (to Co-op Account/SACCO Account/Fethalink)

Cash Withdrawals (from Co-op Account/SACCO Account/Fethalink)

Funds Transfer (to Co-op Account/SACCO Account/Fethalink)

School/College/University Fees payments (you can pay via cash or a Co-op Visa Card)

Make utility bill payments

Check your account balance (Co-op Account, Sacco Link account, and KenSwitch affiliated banks)

Get your account mini-statement (Co-op Account, Sacco Link account, and KenSwitch affiliated banks)

Other payments that you can make at a Co-op Kwa Jirani agent include:

NHIF Payments
County Payments
Other Government Payments, e.g. KRA

Everything you need to know about sending and receiving money with Western Union, MoneyGram and TransFast

Posted on by Martin Oduor

Western Union, MoneyGram and TransFast are reliable financial services that allow you to send and receive money fast and very convenient to and from anywhere on earth.

In Kenya you can walk into any Co-op Bank branch to use Western Union, MoneyGram and TransFast. You can receive and send funds through Western Union, MoneyGram and Transfast at any Co-op Bank branch.

What do you need to receive funds via Western Union?

Request for the MTCN (tracking number) – The person sending you money will receive a tracking number when the transaction is completed. Ask them for the MTCN to make it easier and faster to pick up your money.

Visit your nearest Co-op bank branch- Take your MTCN and your national Identity card, a valid passport or a government issued ID to pick up your money.

Complete the ‘receive’ form – A receive form is available at our branches countrywide.

Show your identification

Once verified, you will receive your money (usually in local currency (Kenya shillings)

What do you need to send funds via Western Union?

Visit the nearest Co-operative bank branch.

Complete a simple money transfer form where you will indicate: the amount you wish to send, destination country, and the name of the person you intend to send to.

Give the teller the completed form with the applicable funds (including transaction fee). Pay with cash or you may debit your Co-op bank account.

The agent/teller will process the transaction and give you a receipt and MTCN number for the transaction

Contact the person receiving your money transfer and let them know the transfer has been done and provide the MTCN for them to receive the money.

Save your receipts for the record.

What do you need to receive funds via MoneyGram?

Request for the reference number – The person sending you money will receive a reference number when the transaction is completed. Ask the reference number to make it easier and faster to pick up your money.

Visit your nearest Co-operative bank branch- Take your reference number and your national Identity card, a valid passport or a government issued ID to pick up your money.

Complete the ‘receive’ form – A receive form is available at any of our 140 plus branches countrywide. The form is required to pick up transferred money. Complete all fields and:
Include the reference number
Show your identification

Once verified, you will receive your money (usually in local currency (Kenya shillings) ).

What do you need to send funds via MoneyGram?

Complete a simple money transfer form including the amount you wish to send, destination country, and the name of the person you intend to send to.

The agent/teller will calculate for you the cost of the transaction and process the transaction.

You’ll receive a receipt and reference number for the transaction. Save both for your records.

Contact the person receiving your money transfer and let them know the transfer has been sent and provide the reference number.

For more details-kindly visit any Co-op Bank branches countrywide.

What do you need to receive funds via TransFast?

Request for the Transfast PIN – The person sending you money will receive a tracking number when the transaction is completed. Ask them for the Transfast PIN to make it easier and faster to pick up your money.

Visit your nearest Co-op bank branch- Take your Transfast PIN and your national Identity card, a valid passport or a government issued ID to pick up your money.

Complete the ‘receive’ form – A receive form is available at our branches countrywide.

Show your identification

Once verified, you will receive your money (usually in local currency (Kenya shillings) )

It’s important to note that:

Your name on the transfer record must exactly match your name as it appears on your ID. Otherwise you may be delayed or be unable to pick up your funds.

You can also receive funds directly into your account or to your mobile wallet if the sender indicated so when sending the money.

 

 

 

8 common transactions you can conduct via your phone or laptop instead of queuing in the bank for hours

Posted on by Martin Oduor

This festive season the queues in the banking hall are crazy. Some people are not even aware that most of the services they sought at bank branches can actually be done via the phone or computer.

One bank that has embraced mobile/internet banking is the Co-operative Bank of Kenya. With Co-op Net you don’t need to queue at the banking hall because most transactions can be done on the phone.

C0-op Net allows you to Access and manage your bank account online, wherever you may be, at any time you’d like. Whether you are an individual, institution or company, you can make transactions as you please.

8 transactions made easy

 

With Co-opNet, you can access these services:

1.View, download or print account statements for all your Co-op Bank accounts

2.Start, stop or amend standing orders in real time

3.Transfer cash to another Co-op account in real time

4.Transfer cash to another local bank account in 1 working day

5.Transfer cash to a foreign bank account in foreign currency

6.Pay utility bills, for example, KPLC, DStv and Nairobi Water

7.Make bulk payments, for example, salaries, dividends, loan disbursements, bonuses and supplier payments

8.Order cheque books and stop cheques

Are you ready to get started? Click the link below to enjoy these services:

Co-op Net

14 transactions made easy by MCo-op Cash app from the Co-operative Bank

Posted on by Martin Oduor

Tired of queuing in the banking halls? Co-operative Bank’s MCo-op Cash got you sorted. Paying KPLC, DStv, KRA Tax and Insurance can all be done through your phone if you have MCo-op Cash app.

For starters, MCo-op Cash is a mobile banking service app from the Co-operative bank that enables you to access your Co-op Bank accounts on mobile phone platform.

MCo-op Cash makes it possible for you to bank anytime and anywhere without necessarily going to the bank to do your transactions.

Accessing MCo-op Cash is as easy as dialing *667# or via the MCo-op Cash App.

14 transactions possible on MC0-op Cash

With MC0-op Cash, you can do 14 things via your phone that you would have gone to the banking hall to do.

Below are the services you can access with MCo-op Cash:
1. Save money

2. Apply and pay for a loan at 1.16% interest rate

3. Send money from your account to another MCo-op Cash Account, Co-op Bank Account or SACCO Account

4. Send money from your bank account to other mobile money services, for example, M-PESA

5. Withdraw money at a Co-op Agent or Co-op ATM

6. Transfer money to and from your Co-op Account or SACCO Account

7. Buy airtime for any mobile number from your bank account

8. Pay bills, for example, KPLC, DStv, KRA Tax and Insurance

9. Pay for goods and services

10. Pay fees, for example, school fees or rent

11. Check your account balance or get a statement

12. Buy, sell or transfer shares

13. Activate SMS alerts for debits and credits

14. Checking balance: you can use your MCo-op Cash to check your account balance.

 

Safaricom partnership with Co-op bank enables Kenyans to receive M-Pesa payments directly into bank accounts for free

Posted on by Martin Oduor

Co-op Bank and Safaricom have partnered to boost ease of doing business in Kenya. The partnership will enable merchants to receive payments done through Lipa Na M-Pesa directly into their Co-op Account at No Extra Cost on the deposits into the Co-op Account.

Merchants will no longer have to retain the money received as payments on their phones since the money will be instantly deposited into their Co-op Bank account.

All businessmen and women need to do to enjoy this service is:

1. SMS the words ‘Lipa Na Mpesa’ plus the location of their business to 16111. The bank will send a representative to them to facilitate in the linking of their Co-op Account with their Mpesa Till Number

2.Send Co-op bank your details and they will contact you. Send details here

Get a loan from business turn over

There are 5 major benefits of businessmen and women receiving their Lipa Na M-Pesa payments via Co-op Bank:

1.Co-op Bank does not charge the merchant for the deposits. So the money is sent into the Co-op Account at No Extra Charge from Co-op Bank

2. Money is received instantly into their Co-op Account

3. The merchant could get a loan from the bank from the business turn over

4. No temptation to misuse the money which would otherwise be on the phone

5. A Co-op Bank representative will go to the business location to help in the set up

For those businessmen and women without a Lipa Na Mpesa till number, the bank representative will also help them get a Lipa Na Mpesa till number then link the till number to their Co-op Account.

 

5 major advantages of linking your Mpesa till number with your bank account

Posted on by Martin Oduor

Co-op Bank and Safaricom have partnered to support merchants and boost ease of business in Kenya. The partnership will enable merchants to receive payments done through Lipa Na Mpesa directly into their Co-op Account at No Extra Cost on the deposits into the Co-op Account.

Merchants will no longer have to retain the money received as payments on their phones since the money will be instantly deposited into their Co-op Bank account.

All businessmen and women need to do to enjoy this service is:

1. SMS the words ‘Lipa Na Mpesa’ plus the location of their business to 16111. The bank will send a representative to them to facilitate in the linking of their Co-op Account with their Mpesa Till Number

2.Send Co-op bank your details and they will contact you. Send details here

So what are the benefits of businessmen and women receiving their Lipa Na M-Pesa payments via Co-op Bank?

No extra cost for deposits

1.Co-op Bank does not charge the merchant for the deposits. So the money is sent into the Co-op Account at No Extra Charge from Co-op Bank

2. Money is received instantly into their Co-op Account

3. The merchant could get a loan from the bank from the business turn over

4. No temptation to misuse the money which would otherwise be on the phone

5. A Co-op Bank representative will go to the business location to help in the set up

For those businessmen and women without a Lipa Na Mpesa till number, the bank representative will also help them get a Lipa Na Mpesa till number then link the till number to their Co-op Account.

 

Smart Kenyans continue enjoying banking services even as banks close for two days due to election

Posted on by Martin Oduor

Banks closed their doors on Wednesday and Thursday as Kenyans went to cast votes. The two day break disrupted banking services, but not for smart Kenyans.

How did people deposit money on Wednesday and Thursday? How did they make NHIF Payments, County Payments and other government payments when Wednesday and Thursday were public holiday?

Well, only smart people using Co-op Kwa Jirani were only able to make these transactions while other waited for banks to re-open on Friday.

Kwa Jirani has taken over villages and estates across Kenya because they operate on weekdays, weekends and even during public holidays.

For starters, Kwa Jirani are accredited Co-operative agents who operate in estates and villages where traditionally bank branches are not found. Banking at a Co-op Kwa Jirani agent is as good as banking at a Co-op bank branch.

The services offered at Kwa Jirani agent were available on Wednesday and Thursday when Banks remained closed because of election. This why smart Kenyas were able to enjoy banking services when other were still waiting for banks to open on Friday.

Below are the services offered at Co-op Kwa Jirani:

1.Cash Withdrawals (From Co-op Account / SACCO Account / Fethalink)

2. Cash Deposits (To Co-op Account / SACCO Account / Fethalink)

3. Funds Transfer (To Co-op Account / SACCO Account / Fethalink)

4. School/College/ university Fees payments ( You can pay via cash or using a Co-op Visa Card)

5. You can pay utility bills Utility Bills Payment

6. You can check your Account balance ( Co-op Account, Sacco Link account, and KenSwitch affiliated banks)

7. You get your account mini-statement ( Co-op Account, Sacco Link account, and KenSwitch affiliated banks)

8. Other payments that you can make at a Co-op Kwa Jirani agent include:
NHIF Payments
County Payments
Other Government Payments e.g. KRA

KRA and NHIF payments made easy! 8 services offered at Kwa Jirani agent that will save you time instead of going all the way to town

Posted on by Martin Oduor

Banking and payments in general have been made easy by Kwa Jirani agents who are located in estates and villages across the country.

For starters, Kwa Jirani is agency banking by Co-operative Bank which is a convenient and simple banking model that suit your lifestyle as well as offer you convenience.

Thinking of sending money from one Co-op Bank account to another, or making NHIF payments? There is no need to go all the way to a Co-op Bank branch because all these services are offered at Co-op Kwa Jirani.

Banking at a Co-op Kwa Jirani agent is as good as banking at a Co-op bank branch. There are several services that are offered at Kwa Jirani. See the list below:

1.Cash Withdrawals (From Co-op Account / SACCO Account / Fethalink)

2. Cash Deposits (To Co-op Account / SACCO Account / Fethalink)

3. Funds Transfer (To Co-op Account / SACCO Account / Fethalink)

4. School/College/ university Fees payments ( You can pay via cash or using a Co-op Visa Card)

5. You can pay utility bills Utility Bills Payment

6. You can check your Account balance ( Co-op Account, Sacco Link account, and KenSwitch affiliated banks)

7. You get your account mini-statement ( Co-op Account, Sacco Link account, and KenSwitch affiliated banks)

8. Other payments that you can make at a Co-op Kwa Jirani agent include: NHIF Payments, County Payments and other government payments e.g. KRA

Visit the nearest Kwa Jirani agent for easy and convenient services.

 

 

 

 

14 things you need to know about MCo-op Cash mobile banking that will really come in handy for you

Posted on by Martin Oduor

MCo-op Cash is a mobile banking service app from the Co-operative bank that enables you to access your Co-op Bank accounts on mobile phone platform.

Making time for the bank can be tough, but banking shouldn’t be an inconvenience. MCo-op Cash therefore makes it possible for you to bank anytime and anywhere!

Accessing MCo-op Cash is as easy as dialing *667# or via the MCo-op Cash App.

With MC0-op Cash, you can do 14 things via your phone that you would have gone to the banking hall to do. Below are the services you can access with MCo-op Cash:
1. Deposit or save money

2. Apply and pay for a loan at 1.16% interest rate

3. Send money from your account to another MCo-op Cash Account, Co-op Bank Account or SACCO Account

4. Send money from your bank account to other mobile money services, for example, M-PESA

5. Withdraw money at a Co-op Agent or Co-op ATM

6. Transfer money to and from your Co-op Account or SACCO Account

7. Buy airtime for any mobile number from your bank account

8. Pay bills, for example, KPLC, DStv, KRA Tax and Insurance

9. Pay for goods and services

10. Pay fees, for example, school fees or rent

11. Check your account balance or get a statement

12. Buy, sell or transfer shares

13. Activate SMS alerts for debits and credits

14. Checking balance: you can use your MCo-op Cash to check your account balance.

Everything you need to know about alternative banking channels – the new efficient to avoid long queues at the banking halls

Posted on by Martin Oduor

Alternative banking channels are avenues created by banks to help customers solve their day to day banking needs without stepping in the banking halls.

Co-op Bank alternative banking channels helps you spend less time banking and more time doing what you love, the alternative banking channels offer a variety of services;

MCo-op Cash

MCo-op Cash is a mobile banking service app from the Co-operative bank that enables you to access your Co-op Bank accounts on mobile phone platform.

If you have MCo-op Cash app on your phone you can access Co-op bank’s mobile loan at 1.16% interest rate,check account balance, withdraw cash at ATM, send money to Mpesa, transfer money to any bank account, buy KPLC tokens etc.

 

Co-op visa cards

With Co-op Bank Visa Card, you can shop anyway and pay using your card at no extra cost. The card is accepted in the VISA Electron branded major supermarkets like Nakumatt, Tuskys, Tumaini etc.

 

Co-op mVisa

Co-op mVisa is basically Visa services via mobile phone. You no longer need to carry your Visa card everywhere with you once you have mVisa on your phone.

With Co-op mVisa, you pay for their goods and services at no extra cost, send money for FREE to another Co-op mVisa number (the money reflects in the Co-op account immediately) and you can also withdraw money from your Co-op account via mVisa.

 

Kwa Jirani Agent

These are accredited Co-op Bank agents who are mostly located in the estates and shopping centers in throughout the country. You can withdraw or send money at Kwa Jirani Agent. You can also pay school fees at Kwa Jirani Agent, no need to go all the way to Co-op Bank branches if Kwa Jirani Agent is near you.

Watch the video below to see how Co-op alternative channels work:

 

 

Co-op Bank leads in mobile-based lending with Kes 8.7 billion loans given to Kenyans so far

Posted on by Martin Oduor

If you haven’t downloaded the MCo-op Cash app then you are still in stone age because the rest of Kenyans are getting instant mobile loans.

The Co-operative Bank through its Mco-op Cash app has issued cumulative loans worth Kes 8.7 billion since the app was launched in August 2014.

“The mobile loans are both affordable and delivery is real-time, and accessible via mobile phones. We are focused primarily on offering advances for our salaried customers and top-up loans for our business customers with other loan facilities,” Co-op Bank group chief executive Gideon Muriuki said.

The CEO said the number of mobile loans Co-op Bank is processing daily doubled in the past year to 1,000 bids in the period to June 2017 highlighting Kenya’s growing uptake of mobile-based lending.

Mr. Muriuki attributed this to the ease and convenience of getting credit via the MCo-op Cash mobile app that has seen the average loan size on the platform grow to Kes 19,000 from Kes 12,800 in the half-year to June 2016.

MCo-op Cash’s mobile loans are charged the capped interest rate of 14 per cent per annum, or1.16 per cent per month with no additional charges.

MCo-op Cash, which has 3.3 million registered users, saw its current loan book nearly triple to Kes 860 million as at June 2017 compared to Kes 290 million the previous year.

Besides offering quick and cheapest loans, MCo-op Cash app is also used for withdrawing cash at any Co-op ATM or Co-op Kwa Jirani, Sending money to Mpesa, transferring money to any bank account, buying KPLC tokens, paying for City council parking, paying to Mpesa till or paybill number etc.