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Carry out a variety of banking transactions straight from your mobile phone via MCo-op Cash

Co-operative Bank is Regulated by the Central Bank of Kenya.

Mobile Banking (MCo-op Cash)

Making time for the bank can be tough, but banking shouldn’t be an inconvenience. We have therefore made it possible for you to bank anytime and anywhere! 

Some people love to go to the bank, but if you are not one of them, we completely understand. Transact straight from your phone by simply dialing *667# or via the MCo-opCash App. 

  • Registration is INSTANT and FREE of charge. Visit the nearest Co-opBank branch with your National ID or Passport. 
  • Once you get your Mco-opCash PIN, you can download the app from Google Play Store or the Apple Store. You can re-set anytime in case you forget or feel the need to change.
  • Every time you do a transaction, you’ll be sent an OTP (One Time Password) to verify that you are the one transacting. The OTP can automatically be picked by your phone, you don’t have to memorize and type it in. This is one of the security features we have put in place to secure your accounts and transactions.

Once you register, you’ll be able to:

1. Manage your accounts, cards, loans and fixed deposits: 

  1. Check balance & download statements for free
  2. Transfer money between accounts / from account to card
  3. Activate SMS alerts for debits (money going out) and credits (money coming in)
  4. Apply for a salary or business loan
  5. Pay your loans and credit card bills
  6. Withdraw cash at any Co-opBank ATM or Co-op Kwa Jirani Agent
  7. Report a lost or stolen card
  8. Apply for a cheque book
  9. Set up standing orders

2. Make Payments - from an account or card:

  1. Buy airtime and KPLC tokens
  2. Pay electricity, water, TV, Safaricom postpaid, and other bills
  3. Pay KRA, NHIF, and other government fees

3. Send Money - from an account or card:

  1. To any Mpesa or Airtel number
  2. To another local bank account
  3. To a foreign bank account
MCo-opCash Salary Loan

What is MCo-opCash Salary Loan?

MCo-opCash Salary Loan is available to those who receive their Salary through a Co-op Bank account. There is no need for your employer to have an MOU (prior agreement) with the bank. 

Loan features:

  1. You can apply for up to 1.5 (& 2) times your net salary as received in your Co-op Bank account, from a minimum ofKes 1000 up to a maximum of Kes 500,000
  2. To apply for the loan:
    • Dial *667# or download the Mco-opCash app
    • Register for MCo-op cash free of charge, with your National ID or valid Passport.
    • Link your salary account at any Co-op Bank branch
    • Log into MCo-opcash and Apply!
  3. The loan amount is deposited in your MCo-opcash account, less the fee of 8% that is deducted upfront. You can transfer the money to your co-op bank account or you can withdraw cash at any Co-op Bank ATM or Co-op Kwa Jirani Agent. You can also send the money direct to your Mpesa or someone else’s Mpesa

Frequently Asked Questions:

  1. What are the charges?

You will be charged a one-off fee of 8% of the loan amount + 0.034% insurance fee (insurance is for 3 months flexi only). The fees are deducted up front (i.e. before the money is deposited in your MCo-opCash account). For example if you request a loan of Kes 10,000:

Fee

Insurance

Total cost

Amount that is Credited to your account

Kes 800 

(8% of 10,000)

Kes 3.4 

(0.034% of 10,000)

Kes 803.4

Kes 9,196.60

  1. What is the repayment period?

You can choose to repay the loan in 1 month, 2 months or 3 months. The total cost of the loan will be exactly the same whether you choose to repay in 1 month or 3 months. 

  1. Can I apply for MCo-op Cash Salary loan if I have another loan with Co-op Bank, e.g. Personal Loan?

Yes. If you have an existing MCoopcash loan, you are allowed to top-up after repaying at least 1 installment

 

  1. Must I open a Salary Account or can my salary be paid to any Co-op Bank Account?

Your salary can be received in any Co-op Bank account except the pure savings (Hekima) account

  1. If my salary starts being paid to a Co-op account today, how soon can I apply for an MCo-op Cash Salary Loan?

You can apply for the loan after receiving at least 1 salary credit.

  1. What if my loan application is declined?

You can visit the nearest Co-op Bank branch, call customer service on 020 2776000 / 0736 690101 / 0703 027000 or email customerservice@co-opbank.co.ke

  1. What are some of the reasons a loan application can be declined?
    • Negative CRB score
    • Overdrawn salary account
    • MCo-opcash loan arrears
    • Any other Co-op loan in arrears
  2. How will I repay the loan?

The loan repayments will automatically be deducted from your salary account when they’re due. 

  1. Loans taken between 1st and 10th fall due on 19th of the same month
  2. Loans taken between 11th and 31st fall due on 19th of the following (consecutive) month

You can also initiate payment from;

  1. Your salary account or any other Co-op Bank account that you have linked to your MCo-opCash. 
    • Log into MCo-opCash by dialing *667# or through the MCo-opcash app
    • Select ‘LOANS’
    • Select ‘PAY LOAN’
    • Follow instructions
  2. Your Mpesa number or someone else’s Mpesa number, through paybill 400200. Account number: your salary account.
  3. How do I check my loan balance?
    • Log into MCo-opcash by dialing *667# or through the Mco-opCash app
    • Select ‘LOANS’
    • Select ‘LOAN ENQUIRIES’
    • Select ‘LOAN BALANCE’
    • Follow instructions
  4. How many times can I apply for the loan?

You can apply for the loan as many times as possible, but you can only qualify for one MCo-opcash loan at a time

  1. If I have more than one registered mobile number, can I register for more than one Mco-opcash account and apply for several loans?

You can register more than on MCo-opcash account, but you can only take one MCo-opcash loan at a time.

  1. Can I top up my loan?

Yes. If you take a loan, which you opt to pay in 2 or 3 months, you can top up the loan after paying at least one installment 

When you a 1 month loan, you are allowed to access more amount which is within your limit before the loan falls due

  1. Can I access MCo-opcash outside Kenya?

Yes. Through the MCo-opcash app which is internet based

  1. What if I lose network signal during a transaction?

Whenever you successfully complete a loan application you will receive a confirmation message that the loan application is successful and the amount has been deposited in your MCo-opcash account. if you do not receive this message due to a lost signal, check your account and re-apply for the loan if it did not get processed.

  1. What if I lose my phone?

Your money is safe because your Mo-opcash PIN protects your MCo-opcash account. you are advised to block and replace your SIM card with your mobile phone service provider. With the new SIM card in place, and as long as you have maintained the same mobile number, you can continue to use your MCo-opcash through *667#. To access through the app on your new phone, you will need to visit the nearest branch in order to re-set your new phone. This is a security measure the bank has put in place to protect you from fraud.

  1. What if I forget my MCo-opcash PIN?
    • Dial *667# and reply with 1
    • To accept terms and conditions, reply with 1
    • Enter your National ID or passport number (whichever you used to register for MCo-opcash)
    • Select your preferred option which is either 1. Reset PIN via Mpesa transaction 
    • If you select option 1. Reset PIN via Mpesa transaction, an Mpesa pop up will appear requesting you to confirm deposit of Kes 1.00 to your MCo-opcash account by entering your Mpesa PIN. If you enter the wrong Mpesa PIN you will be required to repeat the process.
    • Once you enter the Mpesa PIN, you will receive an SMS with a 6-digit password. This password expires after 30 minutes, after which you will be require to repeat the process. If you do not receive the password, call our contact center on 0703 0270000
    • Redial *667# and enter this 6-digit password
    • You will be asked to enter and confirm your preferred new MCo-opcash PIN
  2. Can I reset my PIN through the MCo-opcash app?

No. the service is currently only available through *667#.

 

  1. If I default on the loan, will the bank access money in my other Co-op Bank accounts?

Yes.

  1. What happens if I stop receiving salary or I lose my job and I have borrowed?

You will notify the bank about your job situation and agree on how you intend to pay the loan

  1. How do I withdraw cash at the ATM?
    • Log into MCo-opCash through *667# or MCo-opCash app
    • Select WITHDRAW CASH
    • Select ATM
    • Follow the instructions
    • Receive SMS with a 6-digit SECRET CODE. (valid for only 2 hours)
    • On the ATM screen, click MCO-OPCASH WITHDRAWAL 
    • Enter your MCo-opCash number, the Amount, and the Secret Code to complete the withdrawal
    • Withdrawal at the ATM costs Kes 30 for any amount up to Kes 40,000. You can withdraw up to Kes 40,000 per transaction up to a maximum of Kes 200,000 per day.

 

  1. How do I withdraw cash at a Co-op Kwa Jirani Agent?
    • Log into MCo-opCash through *667# or MCo-opCash app
    • Select WITHDRAW CASH
    • Select CO-OP KWA JIRANI AGENT
    • Follow the instructions
    • Receive SMS with a REFERENCE NUMBER
    • Give the reference number, your MCo-opCash number, and original ID/Passport to the agent to complete the withdrawal.
MCo-opCash Business Plus Loan

What is MCo-opCash Business Plus Loan?

MCo-opCash Business plus Loan is available to those who have been operating a Co-op Bank business account for a minimum of 6 months. 

Loan features:

  1. Depending on your turnover and CRB score, you can apply for a minimum of Kes 100 up to a maximum of Kes 1,000,000.
  2. To apply for the loan:
    • Dial *667# or download the Mco-opCash app
    • Register for MCo-op cash free of charge, with your National ID or valid Passport number
    • Link your business account at any Co-op Bank branch
    • Log into MCo-opcash and Apply!
  3. The loan amount is deposited in your MCo-opCash account, less a one-off appraisal fee of 3% of the loan amount applied for, commission of 1.083% of loan amount applied. You can withdraw cash at any Co-op Bank ATM or Co-op Kwa Jirani Agent. You can also send the money direct to your Mpesa or someone else’s Mpesa 

Frequently Asked Questions:

  1. What is the monthly commission of the loan?

You will be charged 1.083% of the loan amount you have requested.

For example if you request a loan of Kes 100,000:

Fee

Insurance

Total cost

Amount that is Credited to your account

Kes 800 

(8% of 10,000)

Kes 3.4 

(0.034% of 10,000)

Kes 803.4

Kes 9,196.60

 

  1. What is the repayment period?

The loan is payable in monthly installments for a maximum a period of 6 months. 

  1. Can I apply for MCo-op Cash Business loan if I have another loan with Co-op Bank, e.g. Personal Loan?

Yes.

  1. Can I apply for the loan immediately I register for MCo-opcash?

You can only apply for a loan after operating the account for at least 6 months.

  1. What if I don’t repay the loan in 30 days?

You will be listed with CRB

  1. What if my loan application is declined?

You can visit the nearest Co-op Bank branch, call customer service on 020 2776000 / 0736 690101 / 0703 027000 or email customerservice@co-opbank.co.ke

  1. What are some of the reasons a loan application can be declined?
    • Negative CRB score
    • Overdrawnbusinessaccount
    • MCo-opcash loan arrears
  2. How will I repay the loan?

The loan repayments will automatically be deducted from your business account when they’re due. 

You can also initiate payment from;

  1. Your business account or any other Co-op Bank account that you have linked to your MCo-opCash. 
    • Log into MCo-opCash by dialing *667# or through the MCo-opcash app
    • Select ‘LOANS’
    • Select ‘PAY LOAN’
    • Follow instructions
  2. Your Mpesa number or someone else’s Mpesa number, through paybill 400200. Account number: your business account.
  3. How do I check my loan balance?
    • Log into MCo-opcash by dialing *667# or through the Mco-opCash app
    • Select ‘LOANS’
    • Select ‘LOAN ENQUIRIES’
    • Select ‘LOAN BALANCE’
    • Follow instructions
  4. How many times can I apply for the loan?

You can apply for the loan as many times as possible, but you can only qualify for one MCo-opcash loan at a time

  1. If I have more than one registered mobile number, can I register for more than one Mco-opcash account and apply for several loans?

You can register more than on MCo-opcash account, but you can only take one MCo-opcash loan at a time.

  1. Can I top up my loan?

Yes. If you have accessed a loan with a repayment of 2 months and above, you are allowed to take top-up after repaying at least 1 installment.

  1. Can I access MCo-opcash outside Kenya?

Yes. Through the MCo-opcash app which is internet based

  1. What if I lose network signal during a transaction?

Whenever you successfully complete a loan application you will receive a confirmation message that the loan application is successful and the amount has been deposited in your MCo-opcash account. if you do not receive this message due to a lost signal, check your account and re-apply for the loan if it did not get processed.

  1. What if I lose my phone?

Your money is safe because your Mo-opcash PIN protects your MCo-opcash account. you are advised to block and replace your SIM card with your mobile phone service provider. With the new SIM card in place, and as long as you have maintained the same mobile number, you can continue to use your MCo-opcash through *667#. To access through the app on your new phone, you will need to visit the nearest branch in order to re-set your new phone. This is a security measure the bank has put in place to protect you from fraud.

  1. What if I forget my MCo-opcash PIN?
    • Dial *667# and reply with 1
    • To accept terms and conditions, reply with 1
    • Enter your National ID or passport number (whichever you used to register for MCo-opcash)
    • Select your preferred option which is either 1. Reset PIN via Mpesa transaction or 2. Call contact center number 0703 027000
    • If you select option 1. Reset PIN via Mpesa transaction, an Mpesa screen will appear requesting you to confirm deposit of Kshs 1.00 to your MCo-opcash account by entering your Mpesa PIN. If you enter the wrong Mpesa PIN you will be required to repeat the process.
    • Once you enter the Mpesa PIN, you will receive an SMS with a 6-digit password. This password expires after 30 minutes, after which you will be require to repeat the process. If you do not receive the password, call our contact center on 0703 0270000
    • Redial *667# and enter this 6-digit password
    • You will be asked to enter and confirm your preferred new MCo-opcash PIN
  2. Can I reset my PIN through the MCo-opcash app?

No. the service is currently only available through *667#.

 

  1. If I default on the loan, will the bank access money in my other Co-op Bank accounts?

Yes. The loan is deducted from any of your Co-op bank accounts.

  1. How do I withdraw cash at the ATM?
    • Log into MCo-opCash through *667# or MCo-opCash app
    • Select WITHDRAW CASH
    • Select ATM
    • Follow the instructions
    • Receive SMS with a 6-digit SECRET CODE. (valid for only 2 hours)
    • On the ATM screen, click MCO-OPCASH WITHDRAWAL 
    • Enter your MCo-opCash number, the Amount, and the Secret Code to complete the withdrawal
    • Withdrawal at the ATM costs Kes 30 for any amount up to Kes 40,000. You can withdraw up to Kes 40,000 per transaction up to a maximum of Kes 200,000 per day

 

  1. How do I withdraw cash at a Co-op Kwa Jirani Agent?
    • Log into MCo-opCash through *667# or MCo-opCash app
    • Select WITHDRAW CASH
    • Select CO-OP KWA JIRANI AGENT
    • Follow the instructions
    • Receive SMS with a REFERENCE NUMBER
    • Give the reference number, your MCo-opCash number, and original ID/Passport to the agent to complete the withdrawal.
MCo-opcash Self Pin Reset Solution

HOW TO RE-SET YOUR MCO-OPCASH PIN

In case you forget your Mco-opCash PIN or wish to change it, you can re-set it by dialling *667#. All you need is:

  • Your National ID or Passport Number (the one you used to open your Co-opBank accounts)
  • The Safaricom number you used to register for Mco-opCash 
  • At least Kes 1.00 in your Mpesa 
  • Your Mpesa PIN

 

  1. How much does it cost to RE-SET my PIN?

There is no charge for using this service. However, you will be prompted to deposit Kes.1 from your M-Pesa account to your MCo-op Cash account.

  1. What is the process of resetting MCo-opCash PIN?
  • Dial *667#. Reply with 1 in case you have forgotten your PIN.
  • Replying with 1 to Accept Terms and Conditions.
  • Enter your National ID or Passport Number.
  • Select your preferred option which is either 1.Resetting the PIN via M-PesaTransaction or 2.Calling the Contact Center number 0703 027 000.
  • When you select the option of Reset PIN via M-Pesa Transaction, an M-Pesa pop up will appear, requesting you to confirm a deposit of Kes. 1 to your MCo-op Cash account by entering your M-Pesa PIN.
  • Upon successful verification of the above, you will receive an SMS with a 6-digit One Time Password (OTP).
  • Re-dial *667# to enter the shared OTP.
  • Enter your preferred 4-digit PIN
  • Confirm your preferred PIN.
  1. How long does the One Time Password (OTP) take to expire?

The OTP expires in 30 minutes. If you exceed the 30 minutes before using the OTP, then you will be required to re-do the process.

  1. What should I do if I do not receive the One Time Password (OTP) ?

If you do not receive an OTP, kindly call our contact centre on 0703027000.

  1. How can I access my Kes.1 deposited to my MCo-op Cash Account?

Dial *667# to access the main MCo-op Cash menu and explore the available options of utilizing the money.

  1. What if I Input the wrong M-Pesa PIN?

You will receive an SMS stating that you entered the wrong PIN and you will therefore be required to try the process again

  1. In circumstances where I am unable to reset through the M-Pesa Transaction, how else will I be assisted?

You can still call the Contact Centre via 0703027000 or visit your nearest Co-op Bank Branch for assistance

  1. Can I reset my PIN through the Mco-opCash APP?

The service is currently available only via the USSD code *667#. This service will be available on the Mco-opCash App later.

  1. What if I do not have money in my M-Pesa?

The validation process and consequent change of PIN cannot be completed. You will need to have at least Kes. 1/- in your M-Pesa account before beginning the reset process.

  1. What if I do not remember my M-Pesa PIN?

You will not be able to successfully do a PIN reset unless you have the correct M-Pesa PIN. However, you can still call the Contact Centre via 0703027000 or visit your nearest Co-op Bank Branch for assistance

  1. I am getting the error, ‘’ your account is blocked’’ when I dial *667#. Will I be able to reset my PIN?

No. You will be required to first unblock your Mco-op cash account by calling our contact centre via 0703027000 or visiting the nearest Co-op Bank Branch.

  1. Is there a limit to the number of times I can reset my Mco-op Cash PIN?

No. There is no limit on the number of times you can reset your Mco-op cash pin.

  1. What should I do if my M-pesa PIN is compromised? Can I prevent someone else from resetting my pin?

If your M-pesa pin is compromised, and to prevent someone else from resetting your pin, urgently call our contact center for your account to be blocked to prevent someone else from resetting your pin.

  1. I am getting the message ‘’Invalid National ID or Passport’’ when I enter my ID number or Passport Number.

Kindly enter the national ID number or Passport number that you used when opening the Mco-opCash account. 

  1. I am entering my correct ID or Passport number but I am still getting the error ‘’Invalid National ID Number or Passport number’’ What should I do?

Kindly visit your nearest branch to confirm that your ID or Passport number is properly captured

MCo-opcash Limits & Tariff Guide

Please download the tariff guide by clicking on the link below. 

Note: Tariffs indicated are independent of appropriate Government taxes and are bound to change at short notice.

Mco-opcash Limits and Tariffs

MCo-opcash Terms & Conditions

THE AGREEMENT

This Agreement sets out the complete Terms and Conditions (hereinafter called "these Terms and Conditions") which shall be applicable to the Mobile Money Account (as hereinafter defined) opened by you (as hereinafter defined) with the Bank (as hereinafter defined).

These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.
The Customer accepts and acknowledges that this is a legal and binding agreement between the Customer and the Bank once accepted by both parties.

MCo-op Cash Terms & Conditions

Product Fact sheet

PRODUCT

INTEREST RATE

APPLICATION/

NEGOTIATION FEES

APPRAISAL FEES

MAX. TENOR

MOBILE LOANS

1.083 % p.m.

Insurance fee of 0.034%

3%

6 months

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