As Kenyans shift to a digital economy, the number of cashless payments has gone up driven by factors such as high mobile phone penetration, the rising banked population, increased financial literacy, and government efforts to promote financial inclusion.
The rising number of mobile money platforms have made it easier for people to manage their finances without cash.
However, one challenge that people face when transacting online is the hustle of moving money from one account to the other or making payments from one account in one bank to another.
The Co-operative Bank of Kenya has however simplified the process through its unique Pesa Link feature that enables customers to transfer money into a Co-op Bank account instantly from another bank.
Customers can transfer as little as Ksh 10 up to Ksh 200,000 at an extremely low cost between Ksh 0 to Ksh 152, depending on the amount being transacted.
Additionally, the feature allows direct payments from Co-op Bank account to any local bank account instantly from as little as Ksh 10 up to Ksh 200,000.
The service is accessible via USSD *667# or through the MCo-op Cash app. Customers can link their Co-op Bank accounts to their mobile numbers, a process that is free of charge.
Linking Co-op Bank accounts to PesaLink allows customers to access PesaLink services via Co-op Kwa Jirani Agents, Co-op Bank ATMs, Co-op Bank Mobile Banking (MCo-op Cash), and the lender’s branches.
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How to Link your Co-op Bank Account to PesaLink from a Co-op Bank ATM
- Insert your Co-op Bank Visa Card and input PIN.
- Select ‘Other Transactions’.
- Select ‘PESALINK’.
- Select ‘Link Phone’.
- Input the phone number to be linked.
- Confirm to make the account the primary account.
- You will receive a confirmation message.
- Select the option of doing another transaction.
- Select ‘Primary Account Option’ on the upper right-hand side of the screen.
- Input the phone number to be linked to the account.
- Confirm that you wish to make that account the ‘Primary Account’ by clicking the ‘Okay’ button.
- You will then get a confirmation message on the screen that the linking was successful.
How to link your Co-op Bank Account to PesaLink via MCo-op Cash
- Go to the MCo-op Cash app or dial *667# to access the MCo-op Cash USD.
- Select the ‘PesaLink’ menu.
- Select ‘Link your Phone’.
- Select the account number you want to be linked to.
- Select ‘yes’ to make the account the primary account.
- A confirmation with details will be displayed on the phone.
- You will then receive an SMS confirmation of the linking
The Pesalink services are available 24/7 meaning you can do your transactions at any time of the day.
