The Co-operative Bank of Kenya has raised the daily limit for sending money via its app to customers to Ksh2 million.
The new move now offers the bank’s clients more convenience following high adoption of mobile banking by Kenyans.
The new figure is four times the Ksh500,000 daily limit that Co-op Bank has been allowing customers to transact on its MCoopCash app.
The lender informed the customers of the review that has raised the limit per transaction to Ksh 1million.
This means that a customer wishing to transfer Ksh2 million from one Co-op Bank account to another will just require two transactions.
Apart from accessing higher transfer limits on MCoop Cash, customers will also be able to access other banking services including access to personal loans, salary advances, and business financing.
They will also be able to send money to other mobile money services such as Safaricom’s M-Pesa, Orange Money, and Airtel Money, withdraw money at any Co-operative Bank Agent or Co-operative Bank ATM, pay for goods and services, and other bills using Lipa Na M-Pesa, or settle for fees such as school fees or rent, check Co-op account balance and get a bank statement. activate SMS alerts for bank debits and credits, and purchase airtime for any mobile number in Kenya.
Currently, the bank has successfully moved over ninety per cent of all customer transactions to alternative delivery channels through its multi digital channels strategy.
In the same vein, the bank has also expanded its 24 hour contact centre, boosted its mobile banking and internet services and enhanced its 584 ATMs and 16,700 Co-op Kwa Jirani banking agents.
At Co-op Bank ATMs, customers can access the following services: cash withdrawals, cash deposits at selected ATMs, account balance enquiries, mini-statements, card pin change, paying of utility bills including Kenya Power and Water Bills, MCo-opCash withdrawal services (card less withdrawals).
“A successful universal banking model and the implementation of the Sales Force Effectiveness strategy has the Group serving over 8.8 million account holders in all sectors,” said Co-op Bank in a statement.