This article has a breakdown of the charges for sending money from Mpesa to Cooperative Bank account.

We live in a time when technology has taken control of everything. The financial sector has not been forgotten.

Nowadays, transactions are simplified; for example, you do not need to carry cash all the way to the bank.

In this regard, you can conduct mobile-to-bank money transfers regardless of where you are in the country. It saves you the trouble of having to wait in line at the bank to deposit or withdraw money from your account.

With that said, it’s good to know that the Cooperative Bank of Kenya is not lagging behind in terms of mobile banking technology adoption.

This is because it enables customers to access their bank accounts and make transactions via mobile phones, particularly through Mpesa accounts.

I’m sure you’re wondering how much it will cost you to transfer money from your phone (via Mpesa) to your Cooperative Bank account and vice versa.

So, get to know the charges for sending money from Mpesa to Cooperative Bank account.

Charges for sending money from Mpesa to Cooperative Bank account

You can transfer as little as Kshs. 10 and as much as Kshs. 70,000 at a cost of between Kshs. 0 and Kshs. 220, depending on the amount you want to transfer.

The Mpesa transaction fees you will incur when sending money to your Cooperative Bank account are listed below.

Min (Kshs.)	Max (Kshs.)	Mpesa to Coop Bank Transaction charges
10	49	0
50	100	0
101	499	22
500	999	22
1,000	1,499	33
1,500	2,499	33
2,500	3,499	55
3,500	4,999	55
5,000	7,499	83
7,500	9,999	83
10,000	34,999	110
35,000	49,999	198
50,000	70,000	220

Charges for sending money from co-operative bank account to Mpesa (withdrawal charges)

The fees associated with withdrawing funds from your Cooperative Bank account to your Mpesa are listed below.

Min (Kshs.)	Max (kshs.)	Coop Bank to Mpesa Transaction charges (Kshs.)
10	49	Free
50	100	Free
101	500	20
501	1,000	24
1,001	1,500	24
1,501	2,500	24
2,500	3,500	28
3,501	5,000	28
5,001	7,500	28
7,501	10,000	36
10,001	15,000	36
15,001	20,000	36
20,001	25,000	40
25,001	30,000	40
30,001	35,000	50
35,001	40,000	50
40,001	45,000	50
45,001	50,000	50
50,001	70,000	50

 

Please note that these rates are exclusive of the20% excise duty.

 

Charges for Sending Money from Mpesa to Cooperative Bank Account:

How to send money from Mpesa to cooperative bank (how to transfer money from Mpesa to coop bank)

The Cooperative Bank, like many other Kenyan banks, offers numerous options for customers to transfer funds from their Mpesa wallets to their bank accounts and vice versa.

Besides, it’s very simple to transfer money into your Cooperative Bank account using Mpesa.

To deposit funds into your Cooperative Bank account, all you need is your account number and the Coop’s Mpesa paybill number, 400200.

Here’s how to make an Mpesa deposit into your Cooperative Bank account:

1. Go to the Mpesa Menu.
2. Choose “Pay Bill” from the “Lipa na Mpesa” menu.
3. Enter 400200 as the business number (this is the paybill number for Cooperative).
4. Then, enter your “Cooperative account number.”
5. Enter the amount to be deposited.
6. Key in your Mpesa pin and then press “OK.”

If your transaction is successful, you will immediately receive an SMS confirmation from Mpesa confirming your transaction, as well as another from Cooperative Bank with the details of the deposit, and your account will be credited with the amount you’ve topped up.

That’s all. You will be able to deposit funds into your account without any problems if you follow that procedure.

 

How to withdraw cash from Cooperative Bank to Mpesa

You can withdraw funds from your Cooperative Bank account using any of the methods listed below:

                                i.            MCo-op Cash App

Follow the steps below to withdraw funds using the MCo-op Cash app:

1. Open the MCo-op Cash app on your phone. You can get it from the Google Play Store for android or the Apple Store on your iPhone, and then go to the mobile banking tab.
2. Enter your MCo-op cash PIN (4-digit PIN).
3. Select Mobile Money.
4. Select Mpesa.
5. Enter the mobile number to which the funds should be transferred.
6. Choose the Cooperative Bank account you want to debit (if you have more than one account, you will be prompted to choose one).
7. Enter the amount you want to withdraw.
8. Confirm the transaction by clicking “Send.”

If the transfer is successful, you will receive an SMS confirmation from both Cooperative Bank and Mpesa.

And because this method relies on the internet, you must have sufficient data bundles or a WIFI connection.

 

                             ii.            By dialing the USSD code *667#

1. Dial *667# on your phone.
2. Enter your Mcoopcash Pin
3. Choose “Send Money” from the menu.
4. Select “To Mobile Money.”
5. Enter the phone number to which the money should be sent (your Mpesa number).
6. Choose the Cooperative Bank account you want to debit (the one you want to withdraw the funds from).
7. Enter the withdrawal amount, confirm, and then click the “Send” button.

Both Mpesa and the bank will send you a transaction confirmation SMS shortly.

It is important to note that in order for this operation to be successful, you must have some airtime balance on your phone.

 

                           iii.            Through Cooperative Bank’s online banking platform

Here’s how to instantly withdraw money from a Cooperative Bank account to Mpesa using the bank’s online banking system.

To use Coop Bank’s internet banking portal, you must first visit Cooperative Bank for internet banking registration and activation.

You will be sent special secret login information as well as a link to use for cash transfers to and from bank.

Now, take the following steps:

1. Log in to the Coop Bank’s online banking portal using the credentials you were previously assigned.
2. Select the fund transfer option.
3. To complete the cash withdrawal from your bank account to Mpesa, simply follow the simple prompts.

And, that’s how you transfer money from your Cooperative Bank account to your Mpesa account.

As seen above, the simple steps will save you the hassle of walking to your bank to deposit or withdraw cash.

 

Charges for sending money from Mpesa to Cooperative Bank account—FAQs

Can I transfer money from Mpesa to my Cooperative Bank account?

Yes, you can transfer money from your Mpesa account to a Cooperative Bank account using the Cooperative paybill number 400200.

 

Conclusion on charges for sending money from Mpesa to Cooperative Bank account

Now that you know the charges for sending money from Mpesa to Cooperative Bank account and how to do it, you’ll be able to transact more with the bank.

Good luck.

 

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