Cooperative Bank of Kenya, one of the country’s largest banks, offers convenient mobile banking services through M-Pesa. As of 2021, the bank has more than 160 branches across the country and serves a large customer base, including many SACCOs. Its headquarters is located at Co-operative House along Haile Selassie Avenue in Nairobi.
For Cooperative Bank account holders, the ability to transfer money from M-Pesa to their bank account in real-time makes banking more accessible. This simple process allows customers to deposit funds into their accounts anytime, from anywhere, without needing to visit a physical branch.
Steps to Transfer Money from M-Pesa to Cooperative Bank Account
Here’s a step-by-step guide to help you transfer money from M-Pesa to your Cooperative Bank account:
- Go to the M-Pesa Menu
Start by opening the M-Pesa menu on your mobile phone. - Select ‘Lipa na M-Pesa’
From the M-Pesa menu, choose the “Lipa na M-Pesa” option to initiate a payment or transfer. - Select ‘Paybill’
Under the “Lipa na M-Pesa” menu, select “Paybill” as the method for sending money to the Cooperative Bank account. - Enter the Cooperative Bank Paybill Number
Type 400222 as the business number. This is the official Paybill number for Cooperative Bank deposits. - Enter Your Cooperative Bank Account Number
In the next prompt, input your full Cooperative Bank account number. Double-check the details to ensure accuracy. - Enter the Amount
Input the amount of money you wish to transfer. The maximum amount you can send per transaction using M-Pesa is Ksh 150,000. - Confirm and Enter Your M-Pesa PIN
Review the details of your transfer, then enter your M-Pesa PIN to authorize the transaction. - Receive Confirmation
Once the transaction is complete, you will receive confirmation messages from both M-Pesa and Cooperative Bank. The funds will be deposited into your Cooperative Bank account instantly.
Important Notes:
- Maximum Limit: The maximum amount you can send per transaction is Ksh 150,000, with a daily limit of Ksh 300,000 for M-Pesa transactions.
- Fees: The transaction fee varies based on the amount you are transferring. M-Pesa charges standard fees for Paybill transactions, which you can check within your M-Pesa menu.
- Real-Time Transactions: Money transferred from M-Pesa to your Cooperative Bank account reflects instantly, making it a convenient option for emergency transfers or immediate deposits.
Benefits of Using M-Pesa to Transfer Money to Cooperative Bank
- Convenience: You can deposit funds to your bank account from the comfort of your home or office without needing to visit a bank branch.
- Instant Deposits: Transfers reflect immediately in your bank account, allowing for real-time banking.
- Accessibility: With more than 30 million M-Pesa users in Kenya, the service is widely accessible for everyone with a mobile phone.
- 24/7 Service: The service is available around the clock, ensuring you can send money to your bank account anytime.
Cooperative Bank Contacts for Inquiries
If you encounter any issues or have further questions regarding M-Pesa deposits, you can contact Cooperative Bank’s customer service through the following channels:
- Phone: 0703 027 000 or 020-277 6000
- Email: Customerservice@co-opbank.co.ke
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