Below is a list of accounts to open at Postbank Kenya, branches and contacts:

Postbank Branches and Contacts

Head Office

Get in Touch

• Switchboard +254 020 2229551-6
• Help Desk +254 020 2803333/341/350/248
• Mobile:+254716918999,+254734856353
• SMS:20489
• Enquiries: info@postbank.co.ke

Address

• Kenya Post Office Savings Bank.
  Postbank House, 16 Banda Street,
  P.O Box 30311-00100, Nairobi.

Working Hours

• Mon-Fri 8:30AM – 4:00PM
• Sat 8:30AM – 12:30PM

Postbank Kenya Accounts, Features and costs

M-Chama Groups Savings A/c

Benefits

• M-Chama ensures security of funds to members of a group; money safely in a bank account.
• Ensures transparency in managing group funds; SMS notifications are sent designated members linked to the group account for tracking to reinforce accountability of their group officials.
• Easy, secure and convenient access to group funds 24/7 using their mobile phones.
• Provides choice/options for transactions; group members are able to deposit and withdraw at any Postbank branch, Mashinani agent and  M-Pesa outlets.
• Various payment functionalities are available; namely:
  • Savings & Membership fee contribution
  • Loans disbursement & repayment
  • Social welfare funds collection & share out among others.
• Flexible opening & operating balance.
• Personalized card issued to group officials is exclusively operated over the counter.
• Unlimited withdrawals; members can perform as many withdrawals as supported by the available account balance using all the bank channels except the ATM.
• Deposits are unlimited and performed at no extra cost; through Postbank branches, Postbank Mashinani & M-Pesa agents.

Transactional Charges

Subscription to M-Chama service is free. However, respective money transfer charges apply on transactions conducted on the subscribers’ platform. The following charges apply:

• Depositing is free however, M-pesa charges apply for those who use paybill number 200999.
• Withdrawal across the counter is Kshs.70.
• Internal cash transfers from a group account to a personal account within Postbank is free of charge.
• Mobile phone withdrawal through USSD attracts a minimum fee of Kshs.59 depending on the amount.
• USSD gateway access fee is Kshs.2 (chargeable on airtime)
• Personalized Card fee (Optional) is issued at a fee – Kshs.400/=

Requirements

• Group Constitution/by-laws.
• Registered groups: group valid certificate of registration
• Unregistered groups: a letter of introduction from the caretaker NGO.
• Group resolutions/minutes captioning agreement to open an account at Postbank.
• Valid IDs (originals + copies) of designated group officials.
• List of group members profiled by: Name, ID number, mobile number (if applicable) and signature or thumb mark of the applicant.

Bidii Savings Account

This is a savings bank account allowing customers more flexibility in account transactions. It also offers flexible options for running various types of accounts; namely:

• Personal account; for an individual.
• Joint account; for 2 or 3 people.
• Trust account; for a child below 18 years of age under care of a Public Trustee, a company or a legally constituted body.

Benefits

• Affordable opening balance.
• One – off Visa debit card processing fee of Kshs. 600/=.
• Minimum operating balance of Kshs. 200/=
• No maintenance/ledger fee.
• Free annual statement.
• Attractive tax free interest; graduated on account balances.

• Tax free interest.
• Paperless banking thus no queues.
• Allows you 24 hour access to your funds at any Postbank/ Kenswitch & all VISA branded ATMs.
• Services available in any Postbank branch and Mashinani agents’ outlets countrywide.

Requirements

• Original and copy of ID (national ID/valid passport).
• Minimum opening balance of Kshs.800/=.

Save As You Earn Account

Benefits

• No ledger/maintenance fee.
• Tax free interest.
• Several contract periods to choose from.
• Flexibility to operate more than one contract simultaneously.
• Rolling over of mature contracts.
• Easy monthly payments.
• Available to employed and self-employed individuals.
• Allows for premature payments for emergencies.

Types of accounts

• Personal account; for an individual.
• Joint account; for 2 or 3 people.
• Group account; for 4 or more people.
• Trust account; for a company or legally constituted body.
• Children account; for a child below 18 years of age.

Mode of Contribution

• Employed/salaried customers: check-off system or standing order.
• Self-employed customers: Cash/Cheque deposit at any branch.
• Both employed and self-employed can deposit into SAYE account via M-pesa using Postbank Pay bill No. 200999.

Requirements

• Original and copy of national ID or passport.
• Duly completed SAYE application form.
• Minimum monthly contribution of 500/=

Step Account

he Postbank step account is designed specifically for the youth and students between 18-28 years. It is a Smart, Trendy, Electronic and Portable account designed specifically for the youth.

Benefits

• Affordable account opening balance.
• Helps the student keep abreast with savings information.
• Encourages the youths to embrace financial budgeting and control of unnecessary expenditure.

Requirements

• Original and copy of national ID/valid passport.
• Low opening balance of Kshs.200.

New Customers Self-Registration To Patacash

Registration

1. Dial *498#. (SAFARICOM LINE ONLY)
2. Read terms to register. Terms and conditions are accessible at www.postbank.co.ke if acceptable, proceed to dial again *498#
3. Select option 2, Register.
4. Option 2 will prompt you to provide: a) ID Number OR Birth certificate number
   b) Date of Birth.
   c) Account Number.
5. System generates an OTP (one-time password)
6. Dial *498#.
7. Use the OTP to access system.
8. The system will prompt you to input new PIN. (four digits)
9. Set Security (Select Yes to set questions)
   a) The system will ask you to set your security.
   b) The system will display 5 questions
   c) Kindly answer three of the 5 security questions.
10. Once you input the new PIN, you will be requested to input the new Pin again.
11. System will confirm successful registration and prompt you to dial *498# again to proceed to transact.

Login

1. Dial *498#
2. Enter your PIN number
3. If the PIN is correct, the main page should be displayed as follows

Postbank Mobile Banking USSD

1. Account Enquires
2. Bank Transfers
3. Mobile Money Transfer
4. Buy Airtime
5. Bill Payments
6. Settings

Balance Enquiries

1. Dial the USSD and login
2. Select Account Enquiries and Send
3. Select Balance Enquiry and send
4. Select Account your account and send
5. Select Confirm for the balance request and send
6. Your balance will display and SMS of the same will be send to you

Withdrawal from your Postbank Account to M-PESA own number

1. Dial the USSD and login
2. Select Money Transfer from the menu and send
3. Select send to Mpesa and send
4. Select the account to transfer from and send
5. Select My Number and send
6. Enter the amount to transfer and send
7. Select Confirm to transfer amount and send

Withdrawal from your Postbank Account to M-PESA another number

1. Dial the USSD and login
2. Select Money Transfer from the menu and send
3. Select send to Mpesa and send
4. Select the account to transfer from and send
5. Select other Number and send
6. Enter Mpesa Phone number and send
7. Enter the amount to transfer and send
8. Select Confirm to transfer amount and send

Depositing to your Account from M-PESA

1. Dial the USSD and login
2. Select Money Transfer from the menu and send
3. Select Deposit from Mpesa and send
4. Select the account to deposit to and send
5. Select enter amount and send
6. Select Confirm to amount to deposit and send
7. Mpesa will login screen will pop up
8. Enter your Mpesa pin and send
9. SMS will select Confirm to transfer amount and send

Akiba Account

A purely savings account and is open to Kenyans aged 18 years and above. Exclusively operated over the counter (No ATM Card) – instead account holders are issued with account details card.

Benefits

• Free withdrawal per month.
• Affordable opening balance.
• Attractive tax free interest.
• No monthly charges.
• Fast service; no queues.
• Financial discipline – no ATM card; one free withdrawal per month – Kshs.500 charged for subsequent withdrawal transactions done before lapse of 30 days.
• Access to funds in 98 branches countrywide, which is regulated.

Requirements

• Original and copy of National ID or passport.
• Opening balance Kshs.500.
• Operating balance Kshs.5, 000.

Akiba Pension Account

Benefits

• No opening and operating balance.
• No maintenance/ledger fees.
• Free Postbank Visa Debit Card (applies to the initial card only).
• Easy and convenient to operate anywhere in Kenya.

Requirements

• Original and copy of national ID/valid passport.
• Evidence of being a retiree/letter from former employer.

Waridi (Ladies) Account

This is a Ladies only account (18 years and above)

Benefits

• Account applicants qualify for an instant Postbank Visa Debit Card.
• Enjoy tax free preferential interest rates.
• Affordable operating balance of Kshs.100/=.
• One -off debit card processing fee – Kshs.400/=.
• Discounted transactional fees.
• A preferential account opening balance of Kshs. 500
• 1 Free bankers’ cheque in a year.
• One free bank statement per year.
• No ledger/maintenance fees.
• 24 hour Access to your funds at any Postbank, Kenswitch and PesaPoint ATMs countrywide.
• Qualification for Postbank Jijenge Loans after 6 months of operation (Terms & Conditions apply*).
• Unlimited transactions at any Postbank branch and Mashinani outlets countrywide.
• Optional subscription to mobile and internet banking services.

Requirements

• Minimum opening balance of Kshs. 500.
• Original / copy of National ID or valid passport

Smata Account

This is an account specially tailor made for 0-18 year olds. Between 0-11 years, the account is operated by the parent/guardian on behalf of the minor.  For youth between 12-18 years, the savers can operate the account with minimal supervision and own an ATM card in their name.

Benefits

• Affordable account opening balance
• Helps the students to keep abreast with saving information
• Encourages the youths to embrace financial budgeting and control of unnecessary expenditure.

Requirements for Trusted Adult (Parent or Guardian)

• Identification Document (National ID/ Passport, Aliens ID, Military ID or SPLA ID)
• Passport size photo
• Completed and signed application form
• Opening amount

Requirements for Account Holder

• Passport size photo
• Birth certificate/ Birth Notification card/ Immunization Card/ Baptism Card/ school ID/school leaving certificate/ letter from local administration.
• Completed and signed application form

New Customers Self-Registration To Patacash

Registration

1. Dial *498#. (SAFARICOM LINE ONLY)
2. Read terms to register. Terms and conditions are accessible at www.postbank.co.ke if acceptable, proceed to dial again *498#
3. Select option 2, Register.
4. Option 2 will prompt you to provide: a) ID Number OR Birth certificate number
   b) Date of Birth.
   c) Account Number.
5. System generates an OTP (one-time password)
6. Dial *498#.
7. Use the OTP to access system.
8. The system will prompt you to input new PIN. (four digits)
9. Set Security (Select Yes to set questions)
   a) The system will ask you to set your security.
   b) The system will display 5 questions
   c) Kindly answer three of the 5 security questions.
10. Once you input the new PIN, you will be requested to input the new Pin again.
11. System will confirm successful registration and prompt you to dial *498# again to proceed to transact.

Login

1. Dial *498#
2. Enter your PIN number
3. If the PIN is correct, the main page should be displayed as follows

Postbank Mobile Banking USSD

1. Account Enquires
2. Bank Transfers
3. Mobile Money Transfer
4. Buy Airtime
5. Bill Payments
6. Settings

Balance Enquiries

1. Dial the USSD and login
2. Select Account Enquiries and Send
3. Select Balance Enquiry and send
4. Select Account your account and send
5. Select Confirm for the balance request and send
6. Your balance will display and SMS of the same will be send to you

Withdrawal from your Postbank Account to M-PESA own number

1. Dial the USSD and login
2. Select Money Transfer from the menu and send
3. Select send to Mpesa and send
4. Select the account to transfer from and send
5. Select My Number and send
6. Enter the amount to transfer and send
7. Select Confirm to transfer amount and send

Withdrawal from your Postbank Account to M-PESA another number

1. Dial the USSD and login
2. Select Money Transfer from the menu and send
3. Select send to Mpesa and send
4. Select the account to transfer from and send
5. Select other Number and send
6. Enter Mpesa Phone number and send
7. Enter the amount to transfer and send
8. Select Confirm to transfer amount and send

Depositing to your Account from M-PESA

1. Dial the USSD and login
2. Select Money Transfer from the menu and send
3. Select Deposit from Mpesa and send
4. Select the account to deposit to and send
5. Select enter amount and send
6. Select Confirm to amount to deposit and send
7. Mpesa will login screen will pop up
8. Enter your Mpesa pin and send
9. SMS will select Confirm to transfer amount and send

Premium Plus Account (Corporate Term Deposits)

This is a first class savings account that currently offers very attractive tax free interest rates of up to 9.0%** equivalent to 12.86% in other taxable savings and investments opportunities offered by other banks and money market funds thus allowing you to save up to 30% Tax – Under section 35 of the First Schedule of the Income Tax Act Cap 470, “Interest on a savings account held with the Kenya Post Office Savings Bank” is exempt from Taxation.

Benefits

• 10, 000,000 Minimum (consolidated funds).
• Offers investment periods of minimum 3months but not exceeding 12 months.
• Funds can be invested by Cash, Cheque or funds transfer.

Requirements

• Enjoy full tax exemption on interest earned from your investment
• No Wealth management costs/Maintenance/Ledger/Monthly fees
• Given an option to amalgamate funds and invest in a high interest tax free money market fund
• Offers competitive interest rates, currently up to 9%**.