Diamond Trust Bank (DTB) is a top-tier financial institution in Kenya, known for its strong focus on serving the SME sector and its continuous commitment to expanding banking services across the country. Since its listing on the Nairobi Securities Exchange (NSE) in 1971, DTB has grown significantly, driven by its customer-centric approach and dedication to providing convenient banking solutions. One of the key ways DTB has enhanced its accessibility is through agency banking, allowing customers to access a range of banking services at agent outlets located in various parts of the country, especially in areas lacking branch presence.
This article will delve into the requirements for becoming a DTB agent in Kenya, the benefits of agency banking, and the services offered through DTB agents.
Benefits of DTB Agency Banking
Becoming a DTB agent offers numerous benefits for both agents and customers. Key advantages include:
- Convenient Access: DTB services are made more accessible to customers across the country, especially in remote areas without DTB branches.
- Extended Banking Hours: Customers can access banking services through agents beyond the standard banking hours.
- Increased Business for Agents: Agents have the opportunity to grow their businesses by offering DTB services to customers in their localities.
Services Offered by DTB Agents
DTB agents provide a wide range of banking services that are essential for day-to-day banking activities. These include:
- Cash Deposits (Cash In): Customers can deposit money into their DTB accounts through the agents.
- Cash Withdrawals (Cash Out): Customers can withdraw funds from their accounts via agents.
- MTI Services: This includes cash receipt and sending services.
- Balance Enquiry: Customers can check their account balances at DTB agent outlets.
- Mini-Statement Request: Customers can request and receive a mini-statement of their account transactions.
Who Can Become a DTB Agent?
DTB agency banking is open to various types of business entities, including:
- Sole Proprietors: Individual business owners running their enterprises.
- Partnerships: Businesses owned by two or more individuals.
- Microfinance Organizations: Institutions focused on providing financial services to low-income individuals or small businesses.
- Limited Companies: Registered corporate entities.
- Associations and Clubs: Groups and organizations such as clubs and community associations.
DTB Agent Requirements
To become a DTB agent, prospective businesses must meet the following criteria:
- Business Registration Documents:
- Sole proprietors need to present a certificate of registration.
- Companies must provide a certificate of incorporation and copies of the memorandum and articles of association.
- Directors’ Details:
- For companies, the national ID cards of the directors and a certificate of good conduct are required.
- Financial Records:
- One year of company financial data, either in the form of management accounts or audited accounts, must be provided.
- Board Resolution:
- Companies must submit a board resolution approving the decision to partner with DTB for agent banking services.
- Tax Documentation:
- Copies of the KRA PIN and tax compliance certificate are needed.
- Trading License:
- A trading license valid for at least one year is required.
These requirements ensure that DTB agents are well-established businesses that can deliver reliable banking services to customers.
DTB Agency Banking Charges
Here is a breakdown of the transaction charges for customers accessing services at DTB agent outlets:
Cash In (Deposits)
- Kshs 100 – 5,000: No charge.
- Kshs 5,001 – 10,000: No charge.
- Kshs 10,001 – 20,000: No charge.
- Kshs 20,001 – 50,000: Kshs 50.
- Kshs 50,001 – 100,000: Kshs 70.
- Kshs 100,001 – 200,000: Kshs 100.
- Kshs 200,001 – 500,000: 0.25% cash handling charge.
Cash Out (Withdrawals)
- Kshs 100 – 2,500: Kshs 25.
- Kshs 2,501 – 5,000: Kshs 45.
- Kshs 5,001 – 10,000: Kshs 75.
- Kshs 10,001 – 20,000: Kshs 145.
- Kshs 20,001 – 35,000: Kshs 175.
- Kshs 35,001 – 50,000: Kshs 195.
- Kshs 50,001 – 500,000: Kshs 220.
Other Charges
- Balance Enquiry: Kshs 10.
- Mini-Statement Request: Kshs 20.
How to Apply to Be a DTB Agent
Businesses interested in becoming a DTB agent can reach out to Diamond Trust Bank for more information and to begin the application process. By becoming an agent, businesses can expand their service offerings, attract more customers, and play a key role in the financial inclusion of underserved areas.
DTB Contacts
For inquiries and further assistance, you can contact DTB Kenya using the following details:
- Phone: 0719 031 888, 0732 121 888
- Email: contactcentre@dtbafrica.com
In conclusion, becoming a DTB agent offers a great opportunity for businesses to provide essential banking services while enhancing their own business growth. With easy-to-meet requirements and attractive benefits, DTB’s agency banking continues to play a vital role in extending financial services to a broader section of Kenya’s population.
