Tuesday, September 27, 2022

Working and living in diaspora? Invest and get loans using Co-op Bank

Kenya has joined the elite group of national airlines who fly nonstop and directly to the United States. One of the biggest beneficiaries of this achievement is expected to be trade and investments that will be opened up.

This milestone in the country’s aviation history comes as more and more Kenyans venture outside the country’s borders. In nearly every given venture, Kenyans living and working abroad are always on the lookout for easy channels through which they can bank and invest back home in Kenya, or even send their loved ones money home. One of these channels is through the Co-op Bank Diaspora Investment package.

To begin with, in any given instance, the most prominent among the sets of diaspora accounts offered in the local banking sector are Co-operative Bank’s diaspora accounts, which the bank runs under its Diaspora Banking package.

This package allows you to open and manage your account safely wherever you are, fund your account, get a loan, and invest back home. It also allows you to choose from a variety of easy to use money transfer options.

Interestingly, Co-op Bank runs a service and call centre that is dedicated at serving diaspora customers, 24-hours a day, 7-days, a week.

One of the accounts you can go for is the Co-op Bank’s Business Current Account.

Here’s what the account holds for you:

This account allows Kenyans working abroad to carry out their everyday business and investment transactions. According to Co-op Bank, this account will allow you to transact both locally and abroad under a business name, partnership or even trading companies.

The minimum opening and cash balance is Ksh. 10,000, USD. 200, GBP 200 or EUR 200. You will get free monthly statements online. You will be charged Ksh. 300 per month account maintenance fee. When you transact, you will be charged Ksh. 35 for every transaction.

To open this account, you will need to have the following:

  • Completed application form
  • Certified copy of Kenya ID or Kenyan or Alien Passport
  • Certified copy of Pin Certificate or Tax Number
  • Certified Certificate of incorporation
  • Certified Proof of Address
  • Memorandum and Articles of Association or by laws (for co-operative societies)
  • Board resolution to open an account
  • Any other documents the bank may from time to time

Additionally, according to Co-op Bank, all these documents will need to be certified by the Co-op Bank diaspora agent near you, the Kenyan Embassy of High Commission, a Commissioner for Oaths, Public Notary, a Bank or an authorized Co-op Bank staff.

To open this account, you may contact Co-op Bank by CLICKING HERE!

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