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Banking

Co-operative Bank Offers a Variety of Money Transfer Channels

BY Soko Directory Team · January 10, 2017 07:01 am

Once in a while, we send money from one destination to another. It may be at home for our loved ones, to friends or even to our colleagues. How would it be if one had to travel all the way to deliver said money to its destination? That would be very tiresome and time consuming since one would be forced to put some important things on hold for the period in which they would be away.

Co-operative Bank of Kenya (Co-op Bank) came up with a number of convenient ways we can use whenever we need to transfer funds to wherever we wish, anywhere and anytime. There are a number of channels available to customers who wish to carry out money transfers and they include the following:

  1. Swift Transfer – This is where one is able to transfer Funds from other banks abroad to Kenyan banks and vice versa.
  2. Real Time Gross Settlement (RTGS) – This is Cooperative Banks’ online banking system which customers use to make same day transfers to other banks in Kenya.
  3. Electronic Funds Transfer (EFT) – This entails transfer of funds from the Cooperative Bank to other banks in Kenya and the transfer takes one day.
  4. Account Linking – This is where registered users are able to link all their accounts to the internet banking platform.
  5. Internal Funds Transfer – This is the transfer of funds from one account to another with Cooperative Bank in all currencies.
  6. Standing Orders – This is suitable for individuals who have recurrent transfer needs like rent, school fees, savings among others.

Western Union

Co-op Bank is an authorized agent for Western Union services. These services can be accessed from any of their branches across the country.

Money Gram

The Bank is also an authorized agent for MoneyGram services that can be accessed from any of their branches across the country.

Swift Transfer

This is the transfer of money from one’s bank account abroad directly to a Co-operative Bank account or into their Co-operative bank Diaspora account. The Co-operative Bank Swift Code is KCOOKENA. To carry out the transfer, simply browse through their list to find your nearest correspondent bank and follow the instructions given.

 

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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