CO-OP Agency Banking (Co-op Kwa Jirani Agent): Withdrawal charges, Agent Commission

Co-op-Kwa-Jirani Agent

Co-op Kwa Jirani is a service of Co-operative Bank of Kenya that gives unique opportunity to bonafide customers to carry out all banking transactions through an agent appointed by the bank.

Co-op bank customers, non-customers, SACCO-link members, co-operatives, MCU customers, SME customers and corporates can conveniently enjoy Co-op Kwa Jirani services.

The following can become Co-op Kwa Jirani agents:

  1. Limited liability companies
  2. Sole proprietorships
  3. Partnerships
  4. Societies
  5. Co-operative societies
  6. State corporations
  7. Trusts
  8. Public entities

Documents required to become Co-op Kwa Jirani Agent

First one must have a bank account with Co-operative bank to become a Co-op Kwa Jirani Agent.  Just visit your nearest Co-op Bank branch, fill in an application form and submit the following documents along with the application form:

  1. Certificate of good conduct (for the individual)
  2. PIN certificate
  3. Bank statements if you are not a Co-op Bank account holder
  4. Business permits for the last 12 months
  5. Current business permit
  6. Certificate of registration
  7. Copy of ID or equivalent
  8. Two passport size photographs
  9. Business owners’ or directors’ CVs
  10. CBK Form 3 & CBK Form 4 witnessed by Commissioner of Oaths

For corporates and SACCOs, the following additional documents will be required:

  1. Audited books of accounts for the last two years
  2. Resolution to carry out agency banking
  3. SASRA approval for FOSA’s
  4. VAT registration (where applicable)

The applicable fees to facilitate approval are:

  1. CBK application fee – Ksh 1,000
  2. Float placement – Determined by customer limit which is arrived at during appraisal

Services offered at Co-op Kwa Jirani Agent

Here are services offered at Co-op Kwa Jirani Agent

  1. Cash Withdrawals (From Co-op Account / SACCO Account / Fethalink)
  2. Cash Deposits (To Co-op Account / SACCO Account / Fethalink)
  3. Funds Transfer (To Co-op Account / SACCO Account / Fethalink)
  4. School/College/ university  Fees payments ( You can pay via cash or using a Co-op Visa Card)
  5. You can pay utility bills Utility Bills Payment
  6. You can check your Account balance ( Co-op Account, Sacco Link account, and KenSwitch affiliated banks)
  7. You get  your account mini-statement ( Co-op Account, Sacco Link account, and KenSwitch affiliated banks)
  8. Other Payments that you can make at a Co-op Kwa Jirani agent include:
    • NHIF Payments
    • County Payments
    • Other Government Payments e.g. KRA

 

Co-op Kwa Jirani Tariffs All charges and Agent’s Commission  

  1. Cash Withdrawals From Co-op Account / SACCO Account / Fethalink​​

Here are withdrawal charges from Co-op Account / SACCO Account / Fethalink​​:

Amount (Kshs) Charges Agent Commission
50 – 2,000 50 20
2,001-5,000 50 20
5,001-10,000 70 30
10,001-20,000 80 35
20,001-30,000 100 45
30,001-40,000 120 55
40,001-50,000 140 65
50,001-100,000 250 120

2. Charges for other charges

Services Charges Kshs
Cash Deposit Any amount-Free
Funds Transfer Any amount-Free
School/College/University Fees Payment 1.       With Card (Any amount – 50)

2.       Cash (Any amount – Free)

Utility Bills Payment 1.       KPLC  Prepaid (Any amount –50)

2.       Water bills (Nairobi water –50, Other water companies – free)

Balance Inquiry  10
Mini Statement 20
NHIF Payments Free
County Payment Free
Government Payments eg KRA Free

 

Maximum Transactions at Co-op Kwa Jirani Agent

This will depend on the transaction carried out by the customer:

  1. Cash deposits – No limit
  2. Cash withdrawals – Ksh 100,000
  3. School fees payments – No limit