A complete, authoritative guide to Co-operative Bank accounts in Kenya. Learn about account types, requirements, benefits, mobile banking, charges, interest rates, digital services, and how to open an account easily. Updated for 2025.
CO-OPERATIVE BANK ACCOUNT IN KENYA — COMPLETE PROFESSIONAL GUIDE (2025)
Co-operative Bank of Kenya, popularly known as Co-op Bank, is one of the leading financial institutions in the country, serving millions of customers through its branch network, agents, digital platforms, and cooperative society partnerships. For individuals and businesses seeking stable, secure, and efficient banking solutions, Co-op Bank provides a wide portfolio of accounts tailored to suit diverse financial needs.
This comprehensive guide provides an authoritative overview of Co-operative Bank accounts — including account types, requirements, features, benefits, charges, digital banking options, security infrastructure, and how to open an account seamlessly in 2025.
Why Co-operative Bank Remains a Strong Banking Choice in Kenya
Co-operative Bank’s long-standing reputation is supported by:
- Strong partnerships with SACCOs nationwide
- Wide branch and agent coverage
- Secure digital banking infrastructure
- Business-friendly account options
- Accessible financial solutions
- Affordable banking fees
- Fast loan processing
- Diversity in saving and investment products
- Seamless mobile and online banking
Its ability to integrate traditional banking with modern digital services makes Co-op Bank a reliable financial partner.
Types of Co-operative Bank Accounts (2025 Updated Breakdown)
Co-operative Bank offers a variety of accounts designed for different customer categories. Below is a detailed explanation of each account type.
1. Co-operative Bank Current Account
A flexible, business-ready account designed for high-transaction customers, professionals, companies, freelancers, and SMEs.
Key Features
- Cheque books available
- Unlimited deposits
- Overdraft facilities
- Direct debits and standing orders
- Debit cards and ATM cards
- Access to Co-op Internet Banking
- Simple loan qualification process
Ideal For:
- Business owners
- Corporate organizations
- Professional consultants
- Institutions and NGOs
- SMEs with frequent transactions
2. Co-operative Bank Savings Accounts
The bank offers multiple savings solutions, suitable for children, adults, investors, and long-term savers.
🏦 Hekima Savings Account
A general savings account for individuals with flexible deposit and withdrawal options.
🏦 Youth Banking Account (YEA)
A special account for young adults aged 18–30, low-maintenance, and digitally enabled.
🏦 Children’s Savings Account (Jumbo Junior)
A savings product for children under 18.
🏦 Fixed Deposit Account
A secure investment option offering higher interest on fixed-term deposits.
🏦 Diaspora Savings Account
Designed for Kenyans living and working abroad.
Includes multi-currency support and global access.
3. Co-op Salary Account
A dedicated account for salaried employees seeking quick salary processing, loans, and overdraft privileges.
Benefits include:
- No monthly fees
- Quick salary loans
- Overdraft options
- ATM and mobile banking access
- Easy budgeting tools
4. Co-operative Bank Business Accounts
Designed specifically for SMEs, Chamas, companies, NGOs, and partnerships.
Includes:
- Co-op Business Current Account
- Co-op MSME Account
- Co-op Sacco-Linked Accounts
- Chama/Investment Group Accounts
These accounts include special features such as group approvals, multi-signatory controls, and cooperative integrations.
5. Co-op Remittance and Diaspora Accounts
These accounts serve Kenyans abroad by enabling:
- International transfers
- Investment services
- Online account management
- Foreign currency accounts (USD, GBP, EUR)
Co-operative Bank Account Requirements (2025 Updated)
Requirements vary depending on the account type.
For Adults (18+)
- National ID or Passport
- KRA PIN
- Passport-size photo (bank can take one)
- Proof of residence or utility bill
- Minimum opening amount depending on account
For Minors
- Birth certificate
- Parent/guardian ID
For Businesses
- Certificate of registration/incorporation
- Company PIN
- Directors’ IDs
- Board resolution (for companies)
How to Open a Co-operative Bank Account (Step-by-Step Guide)
Co-operative Bank offers multiple channels for account opening.
1. Open an Account at Any Co-op Branch
Steps:
- Visit your nearest Co-op Bank branch
- Present your ID and KRA PIN
- Fill out the application form
- Select your preferred account type
- Provide required documentation
- Deposit the minimum balance
- Receive confirmation and card issuance
2. Open via Co-op Mobile Banking App (MCo-opCash)
The MCo-opCash App allows customers to open accounts digitally.
Steps:
- Download MCo-opCash App
- Select “Open Account”
- Enter identity details
- Upload ID photos and selfie
- Complete digital KYC verification
- Your account is created instantly
3. Open via USSD *667#
Designed for feature phone users.
Steps:
- Dial *667#
- Choose “Open Account”
- Follow the prompts
- Create your PIN
- Activate your mobile account instantly
Co-operative Bank Account Charges (General Overview)
Different accounts attract different fees.
Common charges include:
- Monthly maintenance fees (mainly for current accounts)
- ATM withdrawal charges
- Cheque book charges
- Ledger fees
- RTGS/EFT fees
- Agent withdrawal fees
- International withdrawal fees
- Debit card replacement fees
Savings accounts generally have lower charges than current accounts.
MCo-opCash Mobile Banking — Full Guide
The MCo-opCash mobile banking platform enables customers to access a wide range of services.
Functions include:
- Checking balance
- Deposits and withdrawals
- Mini statements
- Bill payments
- Airtime top-up
- Internal and external transfers
- Mobile loans
- Loan repayment
- PIN management
- Utility payments
- Merchant payments
The mobile system is secured using multi-layer authentication and encryption to safeguard customer information.
Co-op Internet Banking (Online Banking Portal)
The Co-operative Bank online banking platform provides a secure way to manage your account from anywhere.
Key Features:
- Real-time fund transfers
- Mobile and DStv payments
- International transfers
- Forex exchange services
- E-statements
- Standing orders and direct debits
- Loan repayment and monitoring
- Multi-account management
Co-operative Bank Loans Available Through Your Account
Customers can access a variety of loan products through their accounts.
Loan Types:
- Personal Loans
- Salary Advance Loans
- Business Loans
- SME Loans
- Microfinance Loans
- Agriculture Loans
- Overdraft Facilities
- Development Loans
- Mobile Loans (MCo-opCash Loans)
- Asset Finance
Loan eligibility depends on account activity, credit history, and income.
Benefits of Having a Co-operative Bank Account
Holding a Co-op Bank account provides:
✔ Strong customer support
✔ Wide branch and agent network
✔ Secure and reliable mobile banking
✔ Efficient digital onboarding
✔ Competitive interest rates
✔ Flexible business banking solutions
✔ SACCO-friendly financial services
✔ Affordable bank charges
✔ Wide ATM coverage locally and internationally
✔ Seamless integration with mobile money
How to Deposit Money
Co-op Bank supports the following deposit channels:
- Branch deposit
- Agent deposit
- MPesa Paybill 400200
- Interbank transfers
- MCo-opCash
- RTGS/EFT
- Cheques
- Cash deposit machines
How to Withdraw Money
Withdrawal methods include:
- Co-op ATMs
- Visa/Mastercard ATMs globally
- Agent withdrawal
- MCo-opCash App
- USSD *667#
- Bank branch
- Mobile money withdrawal
Co-op Pay – Modern Digital Payments
Co-op Pay enables cashless transactions through:
- QR code payments
- Mobile pay
- Merchant payments
- Online checkout systems
This service enhances transparency and cash-free convenience for businesses and individuals.
Co-operative Bank Account FAQs (SEO Optimized)
1. How can I open a Co-operative Bank account digitally?
Via MCo-opCash App or USSD *667#.
2. What is the MPesa Paybill number for Co-op Bank?
3. Can I receive international transfers?
Yes, through SWIFT or remittance partners.
4. Does Co-op Bank offer mobile loans?
Yes, through MCo-opCash.
