How to Transfer Money from Mpesa to Cooperative bank

How to transfer money from mpesa to cooperative bank

Because going to the bank every day is risky and time consuming, mobile money transfers have become one of the most popular acts all over the world. In this article, I'll show you how to transfer money from Mpesa to a cooperative bank account. Transferring money from bank accounts to mobile money wallets like Mpesa is highly dependent on the apps and USSDs that they provide.

But it is quite surprising to know the huge number of people that do not know how they can send their funds from Mpesa to Cooperative bank even though the process is made easy. The cooperative bank has made it possible for customers to send money to their cooperative bank account accounts by using Mpesa even though from their homes. 

You can also use this feature to send money to any cooperative bank account by simply transferring money from Mpesa to any bank account. However, you must keep in mind that in order to take advantage of this feature, you must first have a cooperative bank account into which you wish to transfer funds, as well as enough funds in your Mpesa wallet to send money to the account. 

How Can I Create a Mpesa Account? 

To open a Mpesa account, go to the nearest M-Pesa agent outlet or Safaricom retail center and present a mobile phone with a Safaricom SIM card and a valid identification document. After successfully registering, you will receive a confirmation message and a four-digit Mpesa PIN via SMS.

How to Activate M-Pesa 

On the safaricom menu.

  • Select the Mpesa menu and then select Activate or Wezesha
  • Enter the Mpesa PIN that you recieved via SMS 
  • Create your own secret PIN and then confirm it 
  • Enter the ID number that was used during registration

Once you have successfully activated your account, you are going to receive a confirmation message with your balance. 

MUST READ: 

Requirements to Create a Cooperative Bank Account 

In order to Open a cooperative bank account, you will need to have the following 

  • Original and photocopy of Identity/ Passport
  • Passport photo that will be taken at the branch
  • Letter of introduction from Employer 
  • Kshs. 600/ = for the debit card
  • Copy of KRA PIN

How to Deposit Money to Your Cooperative Bank Account From Mpesa 

Now that you already have a Mpesa bank account, let us see how you can send money from Mpesa to your cooperative bank. 

  • On your phone, go to Mpesa menu and then select " Lipa na Mpesa"
  • Select "Paybill" 
  • Then select " Enter Business no"
  • You will have to enter the 400200 as the cooperative bank business no and then press OK
  • You will be prompted to enter the cooperative bank account number that you want to transfer money into 
  • Enter the amount that you want to deposit and then press OK 
  • Enter your PIN and then Press OK 
  • Confirm that all the details that you have put in are correct and then press OK 
  • From here, ypu are going to receive a verification window where you have 60 seconds to verify that the details are correct , dismiss or ignore but if wrong, you can enter the number 1 and press ok so as to cancel the transaction. 
  • You will receive a confirmation SMS from Mpesa immediately 
  • And shortly after, you will also receive a confirmation SMS from cooperative bank

MUST READ: how-to-open-bank-account-in-Australia

Aside from this method, there is another option that allows you to send funds from Mpesa to your cooperative bank by using the short USSD code option. To use this method, dial *667# from your mobile phone and then select the Send Money from Mpesa option.

How to Withdraw Cash  From Cooperative Bank to Mpesa Through USSD CODE

  • On your mobile phone, Dial *667# 
  • You will have to register for the service first  and then receive a menu 
  • Choose the mobile money option 
  • Select the M-Pesa option 
  • From here, you will be prompted to enter the mobile number to that you want to transfer to 
  • You will also have to enter your cooperative bank account that you want to withdraw from
  • Enter the amount that you want to withdraw from 
  • Enter the amount that you want to withdraw
  • confirm the details 
  • Then once you have confirm the details, you will have to click on OK and the money will be successfully transferred. 

Final thoughts on How to Transfer Money from Mpesa to Cooperative Bank 

For those who have been looking for an article to help them create a Mpesa account or transfer money from Mpesa to a cooperative bank, I believe this article is for you. As you can see, the processes have been clearly outlined for maximum understanding. Choose the method that works best for you and carefully follow the steps.

Most of this content was gotten from gadgets-africa