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How you can save and transact in Kenya while living abroad

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Among its wide variety of diaspora offerings, Co-operative Bank has two accounts which are designed to meet the savings and transactional account needs of Kenyans living abroad. Today, we take a look at these accounts and tell you all you’ll need to open them and start enjoying fast and convenient banking.

Transactional Account

This account will allow you to access your money from anywhere in the world. It can be opened in the name of an individual or joint names. “You will be able to carry out your regular bank transactions safely and securely from wherever you are in Kenya Shillings, US Dollars or the Great Britain Pound,” says the bank.

According to Co-op Bank, the account attracts zero ledger fees and has no minimum operating balance.

Co-op Bank shareholders recoup their investment in historic dividend pay

You will also get free internal standing orders, and free internet banking. The account will only attract a small transaction fee of Sh. 30 and negotiated forex rates.

To operate this account, you will need a minimum of Sh. 5,000 or USD $100, GBP £100, or Euro €100.

To open the account, you will need to complete an application form, Passport or Kenyan ID, proof of address, and a passport photo.

You can CLICK HERE to apply for this Transactional Account for free.

Savings Account

According to Co-operative Bank, Kenyans living abroad can open this account as individuals, joint, registered groups, businesses, partnerships, saccos, or trading companies.

However, withdrawals from this account will be limited to twice a year. Nonetheless, savings made in this account will grow with attractive interests and they will not be charged.

To operate this account, you will need a minimum of Sh. 5,000 or USD $100, GBP £200, EUR €200.

Individuals and joint persons looking to open this account will be required to complete an application form, and produce a certified passport or Kenyan ID, certified proof of address and certified passport photo.

These documents will be certified by public notary, commissioner for oaths, Kenyan Embassy of High Commission, a bank, Co-op Bank Diaspora Agent or Co-op Bank staff member.

To open this account, you may CLICK HERE.


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