Technology has changed every aspect of human life and has made life easy as compared to the past days. Different sectors keep changing and transforming as development in the technological world continues. One of the sectors that have been transformed by technology is the banking Industry, through the evolution of Internet banking.
Internet Banking has a number of advantages including high security and convenience. Customers are now able to easily access banking services without necessarily having to visit the bank, as long as they have access to internet. They can check account balances, transfer money, review account history, request stop payments, view certificates of deposit, loan information, loan payments, check ordering, and much more.
The Co-operative Bank of Kenya has not been left behind in embracing technology. Internet banking is among the many services offered by the bank. This service dubbed “Co-opNet”, enables customers to perform end-to-end banking through a web-based channel.
As a customer interested in Internet banking, one is only required to have a Co-operative Bank account after which they should visit any Co-op Bank branch for registration. Tariffs for Internet Banking include the following:
- Retail Tariff – 100 shillings’ monthly fee
- SME Tariff -500 shillings’ monthly fee
- Corporate/SACCOs & Government Parastatal – 1,000 shillings’ monthly fees
Co-op Bank’s Internet Banking provides a number of features including:
- Real-time account balance
- One is able to view, download or even print their monthly account statements
- Transfer of funds to different accounts, i.e, Co-op to Co-op bank or even to other Banks.
- Utilities payments can also be done through internet banking, but that is restricted to the Kenya Power and Lighting Company (KPLC) and the Nairobi Water Company only.
- One is able to send instructions to the bank via the e-mail securely.