Established in 1965, the Co-operative Bank of Kenya is one of the leading banks in the country. The Co-op Bank’s strong presence in Kenya is due to its prioritization of the cooperative movement, an amazing customer experience, innovations, and financial inclusion. In addition to its strong focus on the above fields, the Cooperative Bank of Kenya enjoys a wide reach and recognition, coupled with several awards.
Furthermore, the bank introduced the Cooperative Bank Paybill a few years ago. As a result, this turned out to be a game changer not only for the bank but also for its customers. For instance, the Cooperative Bank Paybill has played a vital role in transactions by allowing quick and secure fund transfer. Through this initiative, the bank and its customers have enjoyed several benefits, including reduced branch traffic, increased transaction volume, instant payments, and access to mobile banking, to name a few.
What is the Cooperative Bank paybill number?
The Cooperative Bank of Kenya has two official Paybill numbers, 400200 and 400222. Co-op created these two paybill numbers for very different purposes, as seen below.
The Co-op Paybill, 400200, is used for money transfer. One can send money to any Cooperative Bank account using this Paybill via Mpesa.
On the other hand, the Cooperative Bank Paybill, 400222, is used by businesses (schools, house rentals, etc.) to receive bulk payments. According to the bank’s website, entrepreneurs receive payments from customers via this Paybill free of charge.
Steps to Use the Cooperative Bank Paybill Number for Transactions
Sending Money to a Cooperative Bank Account via M-Pesa
To send money to a co-op bank through through your Mpesa account, follow these simple steps;
- Access your Mpesa menu or else dial *334#.
- Navigate to the Lipa na Mpesa option.
- Then choose the Paybill option.
- Here, you are required to input the business number which in this case is, 400200.
- In the next you’re required to add the account number (that’s the Cooperative Bank 14 digit account number where you want to deposit the money).
- After completing the step above, put the amount of money you want to transfer to the bank account.
- Lastly, enter your Mpesa (secret) pin number and confirm that everything (business and account number) is correct. Confirm the transaction.
- After you are done, Mpesa and Cooperative Bank will send you a confirmation message.
You can also pay bills using the Cooperative Bank Paybill Number by following the process above. However, you input the biller’s account details in place of individuals’ account numbers. That is the only difference.
Transferring Money from Cooperative Bank to M-Pesa Using the Paybill Service
You can also transfer money from your Cooperative Bank account to M-Pesa. This is possible only if you access your account via your phone. First, access your Cooperative Bank app or dial *667#, using your M-Pesa phone number. Note that this number should be registered and connected to your bank account.
After accessing your Co-op Bank Menu, navigate to the send to M-Pesa option. Add the recipient’s (Safaricom) phone number and input your Cooperative Bank PIN. Lastly, confirm the transaction. Cooperative will send you a confirmation message shortly.
