Agency banking in Kenya has brought banking services closer to the masses and enabled the bank’s customers to access and interact with services in a way that would not have been possible at the banking halls.
In almost every town or marketplace in Kenya, there’s an Equity Bank agent shop. This saves you time and travel expenses if you were to visit an Equity Bank branch directly.
Well, this comfort is not entirely free. Every withdrawal you make at the Equity Bank’s agent outlet using your debit card attracts a transaction charge. The charges depend on the bank’s tariff guide.
For instance, withdrawing KSh. 2,500 or below will see you being charged 30 shillings as the transaction charge. For funds between KSh. 5,001 and KSh. 10,000, you will be charged a rate of Ksh. 90.
Read: Equity Bank Boostika Loan: Everything You Need to Know.
Above KSh. 50,000 up to KSh. 100,000, you will be deducted 270 shillings, straight from your card.
Here’s the breakdown of Equity Bank Agent Withdrawal Charges:
| Amount (KSh) | Withdrawal Rate (KSh) |
|---|---|
| 2,500 and Below | 30 |
| 2,5001 to 5,000 | 54 |
| 5,001 to 10,000 | 90 |
| 10,001 to 20,000 | 174 |
| 20,001 to 35,000 | 204 |
| 35,001 to 50,000 | 234 |
| 50,001 to 100,000 | 270 |
The withdrawal charges above are inclusive of the 20% excise duty. All cash deposits at the agent shops remain free of charge.
Other Bank’s Charges
Equity Bank ATM withdrawal charges 30 shillings regardless of the amount transacted. To withdraw at Equity Bank’s ATM booth using another bank’s card you will be charged KSh. 200.
Remember, however, you can only withdraw up to KSh. 40,000 at any bank’s ATM in Kenya.
There are no charges when you use your debit card to pay for goods or services.
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