Cooperative Bank Agent Commission and Withdrawal charges

The cooperative bank gives businesses, SACCOs, and other cooperate bodies a chance to become Co-op bank agent, better known as Co-op Kwa Jirani agents, 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.

See also:

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Services offered at Co-op Kwa Jirani agents include cash withdrawals, cash deposits, money transfer, fee payment, utility bill payment, NHIF payment, KRA dues, balance enquiry, and mini statement.

All deposits made through the Co-op Kwa Jirani agent do not attract any charges.

However, Cooperative bank charges a certain fee on all withdrawals depending on the amount.

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

Amount (Kshs) Charges (Ksh) Agent Commission (Ksh)
50 – 2,000 50 20
2,001-5,000 50 20
5,001-10,000 70 30
10,001-20,000 80 35
20,001-30,000 100 45
30,001-40,000 120 55
40,001-50,000 140 65
50,001-100,000 250 120

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.
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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 Cooperative Bank (Co-op Kwa Jirani) Agent

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

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)
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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
The Approval Process for Co-op Bank Agency Banking

Before you become a Cooperative bank agent and start earning commission on withdrawals, deposits, and other transactions, your application will go through the following approval process:

Co-op kwa jirani agency application process

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