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Cooperative Bank is among the best banks in Kenya. It offers you the opportunity to open an account, save money, take loans and mortgages. Below we provide the list of accounts for the bank, how to open each account and charges.
The basic requirements are: Original ID, Passport Photo, Copy of KRA Pin
Some accounts need opening balance which is Ksh 500 to Ksh 5,000. You are also required to pay Ksh 600 for the ATM card.
Features
Requirements
Salary account is important for anyone who is employed. But before you open this account, check there are monthly costs. The good thing is that Cooperative Bank has no minimum operating balance, they also don’t have minimum opening balance. I believe this is the best salary account in Kenya.
Current account allows you to deposit and withdraw any amount of money at any given time. Monthly maintenance fee is Ksh 300 only. They also charge ledger fee of Ksh 35.
Children Account is important. In case you die and leave your children young, the money will help them finance their education and operations.
The account will also be important when they eventually become adults. They will use the money to start business or buy assets.
Instead of opening a current account which is expensive to operate, open Youth Account. This account is ideal for people aged between 18 years and 35 years. The operating balance is nil and opening balance nil as well. You will be required to pay Ksh 600 only for the credit card.
Requirements include Original ID Card as well as a copy and a copy of KRA Pin
Goldfish Access Account is for the high net worth individuals. If you make over Ksh 200,000 per month, this is the ideal account for you. The account will help you get a loan of millions.
It’s a savings account which attracts high interest. You will earn 2% to 8% interest per year. If you save Ksh 1 million, you will make over Ksh 50,000 interest per year.
If you own a business, Haba na Haba is the best account to open at Cooperative Bank.You will get access to your money any time. The bank also allows you to take loans.
Mshiriki Current Account is for chamas and groups. The best thing with this account is that you can take a loan as a group.
For informal groups, the following are necessary:
(NB: Group Registration Certificate and Introduction Letter are not required)
This one enables you to do transactions to Kenya while you live in abroad.
This is for those owning businesses. You might be owning a business in Kenya but living in abroad. The account will help you deposit money and also take loans.
Opening balance:
Interest from:
You will earn interest of 4% to 9% per year.
Cooperative Bank Mpesa Paybill Number is 400200
How to transfer money from your Mpesa to Cooperative Bank account
Call Center Numbers: 020-2776000, 0703027000Email: customerservice@co-opbank.co.keWhatsApp: +254736690101
Cooperative Bank ATM Withdrawal limit has been increased from Ksh 40,000 to Ksh 60,000. You can withdraw as many times as possible until the maximum limit is achieved.
In case you want to withdraw more than Ksh 60,000, you can go over the counter. You can also withdraw through your ATM card in another bank ATM.
How to send funds direct to your Co-op account from abroad
You can wire the funds to your account through Cooperative Bank correspondent banks.
Bank name: The Co-operative Bank of Kenya Limited.Branch name: Diaspora Branch.Branch code: 11254.P. O. Box 48231 – 00100 Nairobi, Kenya.Swift code: KCOOKENA.
Diaspora Banking Unit,Co-operative Bank of Kenya,Haile Selassie Avenue,P.O. Box 48231 – 00100,Nairobi.
Email: diasporabanking@diaspora.co-opbank.co.keTel: +254711049086
OrContact our 24/7 call centre on:Email: customerservice@diaspora.co-opbank.co.keTel: +254 20 277 6000 /+254 703 027 000WhatsApp: +254 736 690 101
What are the hidden fees or charges that customers should be aware of when opening and maintaining an account with Cooperative Bank?”, “refusal
They charge annual fee. They normally don’t have hidden fee
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