Technology has come a long way. Who would have thought we would get at this point in time where if you want to communicate with a loved one you will just dial your phone or leave an instant message? I wouldn’t too. But if you are still marveling at this awesomeness of technology then you haven’t tried the banking technology system yet. Queuing in your bank to withdraw or deposit your cash is not only inconveniencing since you waste your precious time, but also tiring. Even with banks these days taking the smarter approach of having you wait on chairs before getting served, this still hasn’t eliminated the problem of time wastage. One option that has eliminated this however is the mobile and internet banking system. Now more than ever before you can withdraw, send and deposit your money from one back account to another at the comfort of your living room or office using your phone.
The Cooperative Bank of Kenya is one of the major banks we have in the country. In addition to providing quality financial services to its client, this bank is leading other banks when it comes to innovation in the industry. Thanks to the Cooperative Bank of Kenya paybill number, you can deposit your money from your MPESA to your bank account anywhere in the country and at whatever time you want. With this system therefore, banking for most people and more so the super busy has been made much easier and convenient. However before we start using this system it is important we get to learn and understand how it is used. Below is a brief outline on how to go about this.
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Cooperative Bank Kenya paybill number
The Cooperative Bank Kenya paybill number is the number that makes it possible for one to transfer money from your Mpesa to your Coop Bank account. Before we learn how to deposit money to our accounts via our Mpesa it is important to get to understand this number. If you are a registered for the mobile banking service you don’t need to memorize the Cooperative bank Kenya MPesa paybill number 400200 since it is always uniform throughout. Save it on your phone and use it only for this purpose.
How to deposit money using the Coop bank Paybill number
The coop bank kenya paybill number Is an amazing M-Banking system that enables banking customers, deposit, send and even pay their bills from any part of the country at less hassle. However it is important to note that not all people who are Cooperative bank clients are eligible to use this service. While having an account with the bank is the number one qualification, you need to be registered first in order to use this service. For registration purposes, walk into any Cooperative bank near you with your smart phone having a registered Safaricom SIM card, your Cooperative bank account and importantly your National Identification Card. With these three things you will be registered in the system and liable to use the M-banking system. Once you are registered the following is a step by step process on how to deposit money using the Coop bank Paybill number.
- Open your M-Pesa menu on your phone and scroll down to “Lipa na M-Pesa”
- Go to the “Paybill” option
- Choose “Enter business no.”
- Under this section put 400200 the Co-operative Bank business no and click “OK”
- Under the account number section enter your Co-operative Bank account number or the bank account number you are transferring the funds to and press “OK”
- Enter your amount, that is, the amount you want to deposit and press “OK”
- Enter your secure M-PESA four digit PIN and press “OK”
- Confirm all your keyed in details as correct and then press “OK”
- A verification window from M-Pesa will pop up- Hakikisha. You will have 30 seconds to verify your details again as correct or incorrect. Note you can only use the Hakikisha service up five times which means that you should be extra keen when doing your transactions
- A verification message from MPesa will be sent to you almost immediately confirming to you that the transaction was a success
- After that Co-operative Bank will also send you a confirmation SMS shortly confirming the receipt of your transaction
Paybill number for Cooperative Bank of Kenya- Its merits
If you are a regular banker in Kenya you will know that banking in Kenya and more so during end months is always havoc. It is always at this time of the month that individuals frequent the bank to withdraw their salaries to take care of basic bills such as electricity, school fees and the rest. In most cases you might end up spending a whole day queuing on the lines. However this can all be avoided by opting for the Paybill number system. The following are some of the benefits you are most likely to enjoy by using this system.
Saves you time and money. These are the two most important factor of production you cannot afford to play around with whether you are a business man or employed. Thanks to the Coop Bank paybill system you will be able to save on both since this system is swift as you will be done in a matter of minutes.
You are able to keep proper records. For a business man, records of your savings are very crucial to your business growth. Inasmuch as the traditional banking system gives you a receipt after every transaction, even with the best storage system in place, these papers are vulnerable to damages. However with a digital system like the Co operative bank of kenya paybill no all you records are safely stored in one location.
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The Coop Bank paybill number option is much safer. Note, with this system you are dealing with paperless transactions. Thanks to this you are 100% sure about the safety of your cash.
Technology has surely made life and our transactions easy. With the above information at the palm of your hands you have no excuse going to queue on long tedious lines at the bank while you can have it all at your hands via your phone. Take this step today and register for a Coop Bank mobile system and start enjoying this amazing service.
Source: Kenya Breaking News Today
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