Going cashless is the new normal. With Covid-19 still sweeping across the world, the World Health Organization (WHO) has continued to encourage people from around the world to embrace the use of cashless transactions as much as possible.
Kenya has always been ahead of other countries around Africa and the world when it comes to financial inclusion, thanks to cashless mode of transactions such as M-Pesa and MCo-op Cash that have played a part in enabling Kenyans to transact.
MCo-op Cash is a platform (mobile app though can also be accessed through USSD) by the Co-operative Bank of Kenya that enables customers to carry out baking activities including depositing cash, withdrawing cash, checking balance, taking loans, and paying for bills and services by use of their mobile phones.
How can a customer register for MC0-op Cash?
Dial *667#
Select your favorable language i.e. English or Swahili
Enter your Surname as it appears on your ID or Passport (Don’t forget to enter your other names as they appear on your ID or Passport)
Enter your ID or Passport Number and Press OK to Continue.
Select the ‘Yes’ option if you have an account with Cooperative Bank
Accept the MCo-op Cash terms and conditions to finish your registration
After the steps, the customer will receive an SMS with their pin indicating that they have been partially registered. After a short while, they will receive another SMS showing that they have been fully registered.
To activate their MCo-op Cash, customers will be required to deposit some cash and you will be good to go. While on MCo-op Cash, customers can:
Deposit or save money
Apply and pay for a loan
Send money to another MCo-op Cash Account, Co-op Bank Account or SACCO Account
Send money to other mobile money services, for example, M-PESA
Withdraw money at a Co-op Agent or Co-op ATM
Transfer money to and from your Co-op Account or SACCO Account
Buy airtime for any mobile number
Pay bills, for example, KPLC, DStv, KRA Tax and Insurance
Pay for goods and services
Pay fees, for example, school fees or rent
Check your account balance or get a statement
Buy, sell or transfer shares
Activate SMS alerts for debits and credits