Moving Money Through Co-opRemit, Answer To Financial Inclusion

In December 2020, the Co-operative Bank of Kenya partnered with Thunes, a cross-border payment provider, to launch an alternative global money transfer solution branded Co-opRemit©.

Co-opRemit is a money transfer solution that allows Co-op Bank customers to send money to a mobile wallet or bank account outside Kenya conveniently and affordably within the shortest time possible.

Co-opRemit is ideal for MSMEs, parents with children studying abroad, as well as persons with relatives seeking medical treatment abroad. It is actually the ideal answer to enhancing financial inclusion within and without the African continent.

“You can send a maximum of 1,000,000 shillings per day and you will be charged between USD 2.50 and USD 12.50 depending on the amount you intend to transfer,” said Co-op Bank in a statement.

Co-opRemit has four major benefits and features:

• Enables you to send money instantly to mobile numbers across Africa.

• Affordable and safe.

• Available country-wide at any Co-op Bank branch.

• Access to dedicated money transfer counters across all our branches.

Customers can send money directly to a foreign bank account or mobile number. Money transfers through this platform will bear no extra charge beyond the tariff, thus offering full transparency on forex fees.

Read Also: Co-op Bank Partners With Thunes To Rollout Co-opRemit

With access to Thunes’ fully integrated global network, Co-op Bank has enhanced its digital banking services and deliver a convenient and cost-effective money transfer experience to its customer base of over 8 million.

Co-opRemit users are able to access the new money transfer service from channels starting off with any of Co-op Bank’s over 150 branches across the country, and later mobile and internet banking.

How can you access Co-opRemit?

Make sure there are enough funds in your account

Visit your nearest Co-op Bank branch with the following:

a. Your official identification document (ID, passport, etc.).

b. Destination Country.

c. Details of the recipient:

If you are sending to a Bank Account: ensure you have account details of the recipient including name, name of Bank, Branch, and Bank Account Number.

If you are sending to a Mobile Number: ensure you have the contact details of the recipient including the name, mobile number, and name of the mobile service provider.

Pick a ticket for money transfer services. At the counter, provide the dully filled Co-opRemit form and your identification document (ID, passport, etc.) to the teller.

The teller will process the transaction and issue you with a receipt that has a unique transaction reference. The funds will be credited to the recipient’s account or mobile number.