How TO Deposit Mpesa to Co-op Bank: A Comprehensive Guide on How to Transfer Money in 2023

 How to Deposit Mpesa to Co-op Bank: A Comprehensive Guide on How to Transfer Money in 2023

In Kenya, mobile money transfer has revolutionized the way people conduct their transactions. One of the most popular mobile money transfer services is Mpesa. Co-operative Bank, on the other hand, is one of the leading banks in Kenya. In this article, we will provide a comprehensive guide on how to transfer money from Mpesa to Co-op Bank.

Table of Contents

1.     Introduction

2.     What is Mpesa?

3.     What is Co-operative Bank?

4.     How to Link Your Mpesa to Co-op Bank

5.     How to Transfer Money from Mpesa to Co-op Bank via Paybill Number

6.     How to Transfer Money from Mpesa to Co-op Bank via ATM

7.     How to Transfer Money from Mpesa to Co-op Bank via Internet Banking

8.     How to Transfer Money from Mpesa to Co-op Bank via Mobile Banking

9.     Charges for Transferring Money from Mpesa to Co-op Bank

10. Frequently Asked Questions (FAQs)

11. Conclusion

Introduction

Mpesa and Co-operative Bank are two widely used financial services in Kenya. By linking your Mpesa to Co-op Bank, you can conveniently transfer money from Mpesa to your Co-op Bank account and vice versa. This guide provides a step-by-step procedure on how to transfer money from Mpesa to Co-op Bank.

What is Mpesa?

Mpesa is a mobile money transfer service offered by Safaricom, the leading telecommunications provider in Kenya. With Mpesa, users can send and receive money, pay bills, and purchase goods and services. Mpesa has become a preferred mode of payment in Kenya due to its convenience and accessibility.

What is Co-operative Bank?

Co-operative Bank is a leading bank in Kenya that provides a wide range of financial services to its customers. The bank has over 150 branches across the country, making it easily accessible to its customers. Co-op Bank offers services such as mobile banking, internet banking, ATM services, and mobile money transfer.

How to Link Your Mpesa to Co-op Bank

To transfer money from Mpesa to Co-op Bank, you first need to link your Mpesa to your Co-op Bank account. Here is how to do it:

1.     Dial *667# on your mobile phone.

2.     Select "Co-op Bank" from the menu options.

3.     Enter your Co-op Bank account number.

4.     Enter your Mpesa PIN.

5.     Confirm the details and wait for a confirmation message from Co-op Bank.

Once you have linked your Mpesa to Co-op Bank, you can proceed to transfer money from Mpesa to your Co-op Bank account.

How to Transfer Money from Mpesa to Co-op Bank via Paybill Number

To transfer money from Mpesa to Co-op Bank via paybill number, follow these steps:

1.     Go to the Mpesa menu on your mobile phone.

2.     Select "Lipa na Mpesa" and choose "Pay Bill."

3.     Enter the Co-op Bank paybill number 400200.

4.     Enter your Co-op Bank account number.

5.     Enter the amount you want to transfer.

6.     Enter your Mpesa PIN.

7.     Confirm the details and wait for a confirmation message from Mpesa.

Your Co-op Bank account will be credited with the amount you transferred from Mpesa.

How to Transfer Money from Mpesa to Co-op Bank via ATM

To transfer money from Mpesa to Co-op Bank via ATM, follow these steps:

1.     Insert your Co-op Bank ATM card and enter your PIN. 2. Select "Mpesa" from the ATM menu options.

3.     Select "Send Money" and enter the recipient's mobile number.

4.     Enter the amount you want to transfer.

5.     Confirm the details and wait for a confirmation message from Mpesa.

Your Co-op Bank account will be credited with the amount you transferred from Mpesa.

How to Transfer Money from Mpesa to Co-op Bank via Internet Banking

To transfer money from Mpesa to Co-op Bank via internet banking, follow these steps:

1.     Log in to your Co-op Bank internet banking account.

2.     Select "Funds Transfer" from the menu options.

3.     Choose "Mpesa" as the source of funds.

4.     Enter the recipient's mobile number.

5.     Enter the amount you want to transfer.

6.     Confirm the details and wait for a confirmation message from Mpesa.

Your Co-op Bank account will be credited with the amount you transferred from Mpesa.

How to Transfer Money from Mpesa to Co-op Bank via Mobile Banking

To transfer money from Mpesa to Co-op Bank via mobile banking, follow these steps:

1.     Download and install the Co-op Bank mobile banking app.

2.     Log in to your mobile banking account.

3.     Select "Funds Transfer" from the menu options.

4.     Choose "Mpesa" as the source of funds.

5.     Enter the recipient's mobile number.

6.     Enter the amount you want to transfer.

7.     Confirm the details and wait for a confirmation message from Mpesa.

Your Co-op Bank account will be credited with the amount you transferred from Mpesa.

Charges for Transferring Money from Mpesa to Co-op Bank

The charges for transferring money from Mpesa to Co-op Bank vary depending on the amount you are transferring. However, the charges are generally lower compared to other modes of money transfer.

Conclusion

Linking your Mpesa to Co-op Bank provides a convenient way to transfer money between the two platforms. The process is simple, and the charges are relatively low. By following the above steps, you can transfer money from Mpesa to Co-op Bank with ease.

Frequently Asked Questions (FAQs)

1.     How long does it take for money transferred from Mpesa to Co-op Bank to reflect in my account?

The transfer is usually instant, and the money will reflect in your account within a few minutes.

2.     What is the maximum amount I can transfer from Mpesa to Co-op Bank?

The maximum amount you can transfer from Mpesa to Co-op Bank is Ksh. 70,000 per transaction.

3.     Is it possible to reverse a transaction from Mpesa to Co-op Bank?

Yes, it is possible to reverse a transaction from Mpesa to Co-op Bank. However, you will need to contact Mpesa customer care for assistance.

4.     What should I do if my transaction from Mpesa to Co-op Bank fails?

If your transaction from Mpesa to Co-op Bank fails, you should contact Mpesa customer care for assistance.

5.     Are there any limits to the number of transactions I can make from Mpesa to Co-op Bank?

No, there are no limits to the number of transactions you can make from Mpesa to Co-op Bank.