Transactional Current Account
Target Market:
Through the Transactional account, the bank has made it possible for business owners, Church managers, Institutions, NGO’s to instantly access funds paid via the Lipan an M-Pesa service. This gives business owners real time access to funds credited from either the M-Pesa Paybill numbers or Till number. A critical move that unlocks csh making it readily available for the customer to efficiently run their business, church, organization, institution.
The Transactional account is a solution
- The account takes NO ledger fee for Mpesa deposits.
- The SME client acquires their Till number FREE within 24 hrs.
- The account gives SMEs clients access to their Mpesa Till payments INSTANTLY.
Transactional Account Benefits.
- Deposits received through Tills and Paybill payments will be sent to the account at no additional cost.
- Real-Time Lipa na Mpesa settlement to your BOA account, offering operational efficiency on reconciliations
- Efficient cash management as a result of free e-receipts for debits and credits to the account.
- We will aid in acquisition of Till number, FREE within 24 hrs for new applicants.
- We will facilitate bulk Salary Processing.
Account Opening requirements:
- Standard BOAK KYC documents
- Duly filled MPESA Till form as additional compulsory requirement.
Lipa Na M-Pesa Requirements (2019)
Tariff (Key)
- Monthly Flat Fee – Nil
- Cash handling fees – Nil
- Opening Balance Ksh 5,000
- Cash withdrawal over the counter – Ksh 200
- Ledger fee per transaction Kes 35.00 with an exempt Mpesa tills transactions
- All other transactions will be charged as per the tariff.