In Kenya’s dynamic financial landscape, access to a reliable and flexible current account remains essential for both individuals and enterprises.
The Co-operative Bank of Kenya (Co-op Bank) offers a Current Account tailored to facilitate seamless day-to-day transactions while meeting regulatory and operational requirements for a broad range of customers.
Designed to support personal banking needs as well as corporate and co-operative operations, the account provides customers with a structured yet accessible entry point into formal banking.
Account Opening Requirements
To open a Co-op Bank Current Account, applicants are required to present:
- Original National ID Card or Passport, alongside a copy
- One referee
- Copy of KRA PIN
For corporate and institutional applicants, additional documentation is mandatory to ensure compliance and governance standards. These include:
- Memorandum and Articles of Association
- Certificate of Registration
- Directors’ Resolutions authorising account opening
These requirements are aligned with Kenya’s banking regulations and are intended to enhance transparency, accountability, and security within the financial system.
Minimum Opening Balances
The bank has set structured minimum opening balances to accommodate different customer categories:
- Sh5,000 for individual accounts
- Sh10,000 for companies or co-operative societies
However, the lender notes that these amounts are subject to periodic review and may change from time to time, depending on prevailing policy or market conditions.
The Co-op Bank Current Account is positioned as a practical solution for customers seeking efficient transaction handling, whether for salary processing, supplier payments, cheque issuance, or general cash management.
For businesses and co-operative societies, the account facilitates structured financial management while supporting compliance with statutory and governance frameworks.
“Enjoy financial freedom with an account that is flexible, convenient and fits your lifestyle to a tee! Deposit and withdraw any amount of money at your convenience,” Co-op Bank states.
Account features
- Cheque book
- Ledger fee of Sh35 per entry
- Monthly maintenance fee of Sh300
- Operating balance -Nil
- Statements issued monthly
To open a Co-op Bank current account, customers are directed to visit the nearest Co-op Bank branch countrywide.
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