The Cooperative bank has been around for more than fifty years. It has 160 branches all over the country. It is one of the biggest banks in Kenya. Cooperative bank collaborated with Safaricom to use Mpesa for their mobile transactions. It is now easy to deposit money from Mpesa to Cooperative bank.
To access the services, you need to be a Cooperative bank member and have an account number. You will use this account number to do the transfer of funds. Getting a membership is easy: all you need to do is go to the bank and ask to be registered. You will need your national identification card (ID) and get directions on what to do next.
Below are steps you can follow if you want to deposit money from Mpesa to Cooperative Bank:
- Use your Safaricom app or Mpesa app to access the Mpesa menu on your phone
- Select Lipa Na Mpesa
- Choose the pay bill option
- Select “Pay bill number”
- For the pay bill number, enter 400200. It is Cooperative bank's official pay bill number
- The account number is the Cooperative bank account number you are depositing the money to. Once you have entered it, press OK
- Enter the amount of money you want to deposit
- You will be prompted to enter your Mpesa PIN
- Before pressing OK, confirm if all the details are correct. From the pay bill number to the account number. It will help you avoid depositing the money to the wrong account.
- Once you have confirmed the details, press OK
- After pressing OK, you will receive a verification window from Mpesa. You have 1 minute to verify if you want to proceed with the transaction or not. If yes, ignore the verification window. If you want to cancel the transaction, press 1 and it will be canceled. You will have to start all over from step 1
- If you allowed the transaction to take place, you will receive a confirmation message from Mpesa
- The Cooperative bank will also send you a confirmation SMS.
Using this method is convenient because you will not waste time queuing in banks for such services. It is also safer to use mobile banking. Following these simple steps will help you to be able to deposit money from you Mpesa to Cooperative Bank.