Cooperative Bank Agent Commission and Withdrawal charges

Cooperative bank Kenya gives businesses, SACCOs, and other cooperate bodies a chance to become Co-op bank agents, better known as a Co-op Kwa Jirani agent, by fulfilling the requirements made by the bank and the Central Bank of Kenya.

A Cooperative bank agent earns a commission based on the withdrawals, deposits, and utility bill payments made by customers.

This article will guide you step by step on how to become a Co-op Kwa Jirani agent and show you the commission they get.

See also:

  1.  How to Transfer Money into Cooperative Bank Account from Mpesa
  2. How to Apply for Co-operative Bank Mco-op Cash Loan

Services offered at Co-op Kwa Jirani agents include cash withdrawals, cash deposits, money transfers, fee payments, utility bill payments, NHIF payments, KRA dues, balance enquiries, and mini statements.

All deposits made through the Co-op Kwa Jirani agent do not attract any charges. However, Co-op bank charges a certain fee on all withdrawals, depending on the amount.

Cooperative Bank (Co-op Kwa Jirani) Cash Withdrawal Charges and Agent Commission Chart

Amount (Kshs)Charges (Ksh)Agent Commission (Ksh)
50 – 2,0005020
2,001-5,0005020
5,001-10,0007030
10,001-20,0008035
20,001-30,00010045
30,001-40,00012055
40,001-50,00014065
50,001-100,000250120
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Disclaimer: Co-op bank can change their commissions and charges at any time at their own discretion.

Other Co-op Kwa Jirani Charges include:

  • KPLC Prepaid, Water companies and other utility bills: Ksh. 50 irrespective of amount.
  •  Balance enquiry: Ksh. 10
  • Mini Statement: Ksh. 20
  • School fees with card: Ksh 50 or Free with cash
  • Funds transfer to Co-op bank account, SACCO account, Fethalink: Ksh. 50 any amount.
  • NHIF, County and KRA payments: Ksh. 50.

Co-op bank Agency Cash withdrawal limit is pegged at Ksh. 100,000. There are no limits to cash deposits and school fees payments.

How to Become a Co-op Kwa Jirani Agent

Co-op kwa jirani agency application process
Co-op agent application process

Here is a list of businesses and entities which can become Co-op Kwa Jirani agents:

  1. Limited liability companies
  2. Sole proprietorships
  3. Partnerships
  4. Societies
  5. Co-operative societies
  6. State corporations
  7. Trusts
  8. Public entities

Documents Required for Co-op Kwa Jirani Agency Application

It is not a must to be having a Co-op bank account in order to apply for agency services. All you need to do is to visit the nearest Co-operative bank branch and fill an application.

You will be required to submit the following documents together with the application form:

  1. Certificate of good conduct (for the individual)
  2. PIN certificate
  3. Bank statements if you are not a Co-op Bank account holder
  4. Business permits for the last 12 months
  5. Current business permit
  6. Certificate of registration
  7. Copy of ID or equivalent
  8. Two passport-size photographs
  9. Business owners’ or directors’ CVs
  10. CBK Form 3 & CBK Form 4 witnessed by Commissioner of Oaths
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For corporates and SACCOs, the following additional documents will be required:

  1. Audited books of accounts for the last two years
  2. Resolution to carry out agency banking
  3. SASRA approval for FOSA’s
  4. VAT registration (where applicable)

The applicable fees to facilitate approval are:

  1. CBK application fee – Ksh 1,000
  2. Float placement – Determined by customer limit which is arrived at during appraisal

Also Read:

  1. Equity Bank Agency Application and Equitel Money Transfer Rates
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  3. USSD Codes for Airtel and Telkom Kenya Mobile Services
  4. List of USSD Short Codes for all Safaricom Services