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Mobile Banking Apps to Manage your Finances

Mobile Banking Apps to Manage your Finances

Banking and finance apps are one of the most sought after pieces of innovation in Kenya aiming to serve millions of citizens who are banked with a possibility of luring the unbanked to diverse product offerings.

While innovation and creativity in the Kenyan banking industry has been limited to SMS banking for a while, accredited finance institutions are quickly targeting native mobile application users more on the Android platform than any other mobile operating system.

We have come up with a list of the available apps on various platforms prominent among them being the Google Play Store.

This banking apps at the least will ease your hassle and reduce the time you have to spend in queues in various banking halls.

Barclays Bank of Kenya

Barclays-Bank-Kenya-mobile-banking-appAlong with its Internet Banking service, the Barclays Bank of Kenya is among the banks in Kenya to have a complimentary mobile application launched in June 2013 that serves both personal and business clients. The application is available on the android platform for versions above 2.2. So far between 5,000 to 10,000 clients are using the application.

You can download Barclays Bank of Kenya app from the Google Play Store here.

 

Ecobank Kenya

Ecobank-Kenya-mobile-banking-app Like most banking applications in Kenya, the Ecobank mobile banking allows its banking clients to top up their mobile phones with airtime from major mobile operators such as Safaricom and Airtel. Internet and External fund transfers are on the go which cuts down on the effort to meet the bankers in person. Available on the android platform for versions above 2.2, the app has between 1,000 to 5,000 users.

You can download from the Google Play Store here.

 

Equity Bank of Kenya (Eazzy 247)

equity-bank-kenya-mobile-banking-appBeing among Kenya’s most profitable banks, Equity Bank has a mobile banking application dubbed Eazzy 247 that opens up an opportunity for its clients to access their account financials including statements as well as pay bills such as electricity, water, HELB, DSTV bills and others. The app is available on the Google play store with downloads between 10,000 – 50,000. You can download from the Google Play Store here.

The application is also complimented by unofficial apps such as the Equity Direct Mobile which is a money remittance service serving the Kenya community and a less popular Equity Virtual Banking which features ATM locations among other features.

 

Family Bank (Pesa Pap)

family-bank-kenya-mobile-banking-appFamily Bank is a financial organization that is built around the idea of family and is popular with social groups and communities. Their laid back mobile application developed by Craft Silicon is efficient for servicing utility bills from various service providers in Kenya. The application is available on the android platform for versions above 1.6. You can download from the Google Play Store here.

 

NIC Bank Kenya

NIC-Bank-Kenya-mobile-banking-appThe NIC Bank is not left out when it comes to serving up its clients with the latest innovation. Though basic, the mobile banking application offers everything a banking client is looking for including online merchants and mobile money options. The application is available on the android platform for versions above 1.6.

You can download from the Google Play Store here.

 

Kenya Commercial Bank (KCB)

kenya-commercial-bank-kcb-mobile-banking-appThough not hosted on the play or app store, KCB’s mobile application can be download on their website offering the ability for users to send money to their mobile money accounts such as M-Pesa, check their balance as well as transfer funds. The application compliments the USSD service accessible via *544# on Safaricom Lines.

You can download from their website here.

 

Chase Bank Kenya (Mfukoni)

chase-bank-kenya-limited-mobile-banking-appThe bank has an attractive mobile banking app known as mfukoni which translate in English from Swahili as ‘In the Pocket’. Othe than, the application has an attractive interface and goes beyond that to provide service beyond the usual mobile application. Mfukoni also provides access to services such as insurance and unit trusts that are a product offering by the modern financial institution. You can download from the Google Play Store here.

The have a separate application for tablet devices available for versions 3.1 and up.

Banking will remain a core primary service but sure, banking as we know it will continue to evolve decade after decade.

Leave a comment and don’t mind pointing us to any apps that might have been missed.

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Top Up Nakumatt Global Card using KCB M-Pesa Paybill

Kenya Commercial Bank (KCB) Nakumatt Global paybill number is 522522. KCB  KCB allows you to use your 16 Digit Card Number (5246 xxxx xxxx xxxx) as your Lipa na M-Pesa account number.

The Procedure for depositing money via M-Pesa to your KCB Nakumatt Global Card is as follows

  1. Go to M-Pesa menu on your phone, select “Lipa na M-Pesa
  2. Select “Paybill
  3. Select “Enter business no.” and enter the 522522 as the KCB business no and press “OK”
  4. Enter your 16 Digit Card Number (5246 xxxx xxxx xxxx) you are transferring money to and press “OK”
  5. Enter amount i.e. amount you want to deposit and press “OK”
  6. Enter your M-PESA PIN and press “OK”
  7. Confirm all the details are correct and press “OK”
  8. You will receive a verification window from M-Pesa where you have 1 minute to verify that the details are correct, if correct, dismiss or ignore, if wrong, enter the number 1 and press OK to cancel the transaction (This feature is known as Hakikisha)
  9. You will receive a confirmation SMS from M-Pesa immediately.
  10. Nakumatt Global will then send you a confirmation SMS shortly.
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How to get a KCB M-PESA account

How to get a KCB M-PESA account

Dial*844#. Accept the Terms and Conditions. You will receive an SMS with your PIN. Dial *844# to access the KCB M-PESA Account Menu and enter the PIN. Change PIN option will be available under my account.

KCB M-PESA is a savings account that enables you to access instant loans up to KSh 1M upon dialing *844#.

  • The KCB M-PESA Account features include:
  • Minimum saving of Kshs.1 and maximum saving of KSh 1M
  • Personal accident insurance benefit based on savings
  • Interest on savings of 2% p.a.

You may load your savings easily and conveniently via M-PESA, KCB Mobi, Mtaani agent and/or branch and withdraw your KCB M-PESA account savings only via M-PESA.

Loans

You can borrow instantly without saving with disbursement being to KCB M-PESA Account Loan Limits (Kshs.100 to KSh 500,000 with a top up option)

You can choose flexible repayment periods of 1 month, 3 months and 6 months via M-PESA, KCB M-PESA Account and Mobi/Branch/Mtaani with an option of Partial payments.

The interest on the loan include:

  • 30 day loan at 6% per month
  • 90 day loan at 5% per month
  • 180 day loan at 4% per month

The KCB M-PESA Account Fixed Deposit accounts

There are two types of fixed deposit accounts available to you as a KCB M-PESA Account holder. They include

  • Fixed Savings Account
  • Target Savings Account

Fixed Savings Account

This Account allows you to lock a specific amount of cash for a certain period of time.

How does it work?

  • You will not be able to top-up to the amount saved.
  • Locked periods include 1, 3, 6, and 12 months with minimum amount of KSh 500.
  • Upon early or premature redemption, you will forfeit all interest accrued.
  • You get cash back immediately to KCB M-PESA account on prompting cash back
  • You also get Life insurance benefit based on fixed deposit savings.

Target Savings Account

This account allows you to set a target and make deposits towards achieving that target.

How does it work?

  • You will top up continuously until you achieve your target.
  • The account is accessible with standing orders from M-PESA or KCB M-PESA Account
  • You can choose from target periods of 1, 3, 6 and 12 months with minimum contribution of KSh 50.
  • You will also earn interest on cumulative interest
  • You are allowed up to 4 withdrawals within target lock period to maintain interest.
  • You will get cash back immediately to your KCB M-PESA account on prompting cash back

 

Source: How to get a KCB M-PESA account

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How to Deposit Money to KCB via Mpesa

Kenya Commercial Bank’s Lipa na M-Pesa paybill number is 522522Their mobile banking service is dubbed KCB Mobi Bank.

The Procedure for depositing money via M-Pesa to your KCB account is as follows

  1. Go to M-Pesa menu on your phone, select “Lipa na M-Pesa
  2. Select “Paybill
  3. Select “Enter business no.” and enter the 522522 as the business no and press “OK”
  4. Enter the KCB account number you are transferring money to and press “OK”
  5. Enter amount i.e. amount you want to deposit and press “OK”
  6. Enter your M-PESA PIN and press “OK”
  7. Confirm all the details are correct and press “OK”
  8. You will receive a verification window from M-Pesa where you have 1 minute to verify that the details are correct, if correct, dismiss or ignore, if wrong, enter the number 1 and press OK to cancel the transaction
  9. You will receive a confirmation SMS from M-Pesa immediately.
  10. KCB will then send you a confirmation SMS shortly.