How to open a KCB M-Benki Account 2015

Brief History:

The history of KCB dates back to 1896 when its predecessor, the National Bank of India opened an outlet in Mombasa. Eight years later in 1904, the Bank extended its operations to Nairobi, which had become the Headquarters of the expanding railway line to Uganda.
The next major change in the Bank’s history came in 1958. Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank.

 How to open a KCB M-Benki Account:


    Go to MPESA Menu,
    Payment Services, Pay Bill Option, Enter Business No. 522522
    Enter Account, type ID (No Spaces) and your National ID Number e.g. ID23456789
    Enter amount to deposit, then your MPESA PIN
    You will receive two SMS's. One with your M-Benki Account Number and the other with your User ID and PIN.
    Access the account through *522# and enjoy all KCB Mobi Bank services.

How To Use Your M-pesa Account Effectively

Do you need an m-pesa account or not?

M-PESA has been designed so that people without bank accounts can use
it. Your money is held safely in a bank account run by M-PESA on your
behalf. You do not have any contact with the bank and the bank does
not have your details.

The question to whether you need an account or not might not be much
of our focus.
what we need to undestand is how to use the Account effectively.
managing and taking advantage of everything available.

Here are the basics to exploit:

Manage Your M-PESA Account

You can check your current M-PESA balance status at a fee of Ksh1
only. Note that your balance is also shown at the end of every SMS
each time you do an M-PESA transaction.
To check your balance:

Select "Show balance"
Enter your secret PIN
Wait for SMS confirmation message with your balance

Call Support: You can call M-PESA Customer Service Representatives
through this menu:

Select "Call Support"
A message displays "Allow SIM card to call?"
Press "call"
The same service can be accessed by directly dialling 234 from
your Safaricom mobile.

Change PIN: For security reasons, customers can change their PIN at
any time at a fee of Ksh22.

From the M-PESA menu select "My Account".
Select "Change PIN".
Enter old PIN press OK.
Enter new PIN and confirm it.
Wait for the confirmation.

Secret Word: This allows the customer to change the secret word as
long as they remember their secret PIN.

From the M-PESA menu select "My Account".
Select "Secret Word".
Enter PIN press ok.
Wait for the confirmation.

Language: You can choose which language to use for your M-PESA:

From the M-PESA menu select "My account".
Select "Language".
Choose from English or Kiswahili.
Enter your secret PIN
Wait for display of "M-PESA" then Press OK to view language update

Update Menu

Safaricom will from time to time release new functions on the M-PESA
menu. 'Update Menu' is used to launch these new M-PESA functionalities
on your phone. You will need to enter your secret PIN to confirm the
request.

Bless!

HOW TO USE KCB M-PESA ACCOUNT WITH YOUR PHONE

KCB M-PESA Account

KCB M-PESA is a savings account that enables you to access instant loans up to Kshs.1M upon dialing *844# in Kenya.

“The KCB M-PESA Account features include:

• Minimum saving of Kshs.1 and maximum saving of Kshs.1M
• Personal accident insurance benefit based on savings
• Interest on savings of 2% p.a.

You may load your savings easily and conveniently via M-PESA, KCB Mobi, Mtaani agent and/or branch and withdraw your KCB M-PESA account savings only via M-PESA.

How you can Access Loans?

You can borrow instantly without saving with disbursement being to KCB M-PESA Account Loan Limits (Kshs.100 to Kshs.500,000 with a top up option)

You can choose flexible repayment periods of 1 month, 3 months and 6 months via M-PESA, KCB M-PESA Account and Mobi/Branch/Mtaani with an option of Partial payments.

The interest on the loan include:

• 30 day loan at 4% per month (4%)
• 90 day loan at 3% per month (9%)
• 180 day loan at 2% per month (12%)

The KCB M-PESA Account Fixed Deposit accounts

There are two types of fixed deposit accounts available to you as a KCB M-PESA Account holder. They include

• Fixed Savings Account
• Target Savings Account

Fixed Savings Account

This Account allows you to lock a specific amount of cash for a certain period of time.

How does it work?

• You will not be able to top-up to the amount saved.
• Locked periods include 1, 3, 6, and 12 months with minimum amount of Kshs.500.
• Upon early or premature redemption, you will forfeit all interest accrued.
• You get cash back immediately to KCB M-PESA account on prompting cash back
• You also get Life insurance benefit based on fixed deposit savings.

Target Savings Account

This account allows you to set a target and make deposits towards achieving that target.

How does it work?

• You will top up continuously until you achieve your target.
• The account is accessible with standing orders from M-PESA or KCB M-PESA Account
• You can choose from target periods of 1, 3, 6 and 12 months with minimum contribution of Kshs.50.
• You will also earn interest on cumulative interest
• You are allowed up to 4 withdrawals within target lock period to maintain interest.
• You will get cash back immediately to your KCB M-PESA account on prompting cash back
• You benefit from exciting Interest rates of 1 month (3%), 3 months (4%), 6 months (5%) and 12 months (6%)”

Source: Safaricom Kenya.

 For further information, you can read KCB M-PESA Account Terms and Conditions on Safaricom website.