Mcoop cash app enables co-operative bank of Kenya customers access to the below services
Access their account balances,transfer cash from their mco-op cash account to Mpesa, Airtel . It also allows them access to airtime purchase from m-coop cash account among other services. MCo-op Cash Loans https://play.google.com/store/apps/details?id=com.co_operativebank.MCoopCash&hl=en
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-op Cash App.
To download the app, go to Google Play Store or the Apple Store.
With MCo-op Cash, you can access these services:
- Deposit or save money
- Apply and pay for a loan
- Send money to another MCo-op Cash Account, Co-op Bank Account or SACCO Account
- Send money to other mobile money services, for example, M-PESA
- Withdraw money at a Co-op Agent or Co-op ATM
- Transfer money to and from your Co-op Account or SACCO Account
- Buy airtime for any mobile number
- Pay bills, for example, KPLC, DStv, KRA Tax and Insurance
- Pay for goods and services
- Pay fees, for example, school fees or rent
- Check your account balance or get a statement
- Buy, sell or transfer shares
- Activate SMS alerts for debits and credits
MCO-OPCASH SALARY 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 500,000.
2. To apply for the loan:
1. Dial *667# or download the Mco-opCash app
2. Register for MCo-op cash free of charge, with your National ID or valid Passport number
3. Link your business account at any Co-op Bank branch
4. 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 and 20% excise duty of the total commission charged. 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 applied.
2. What is the repayment period?
The loan is payable in monthly installments for a maximum a period of 6 months.
3. Can I apply for MCo-op Cash Business loan if I have another loan with Co-op Bank, e.g. Personal Loan?
Yes as long as you do not have any other MCo-opcash loan.
4. Can I apply for the loan immediately I register for MCo-opcash?
Yes, as long as you have been pre-qualified.
5. What if I don’t repay the loan in 30 days?
You will be listed with CRB
6. 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
7. What are some of the reasons a loan application can be declined?
1. Negative CRB score
2. Overdrawn business account
3. MCo-opcash loan arrears
8. 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;
- 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
- Your Mpesa number or someone else’s Mpesa number, through paybill 400200. Account number: your business account.
9. How do I check my loan balance?
1. Log into MCo-opcash by dialing *667# or through the Mco-opCash app
2. Select ‘LOANS’
3. Select ‘LOAN ENQUIRIES’
4. Select ‘LOAN BALANCE’
5. Follow instructions
10. 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
11. 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.
12. Can I top up my loan?
No
13. Can I access MCo-opcash outside Kenya?
Yes. Through the MCo-opcash app which is internet based
14. 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.
15. 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.
16. 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
17. Can I reset my PIN through the MCo-opcash app?
No. the service is currently only available through *667#.
18. 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.
19. How do I withdraw cash at the ATM?
1. Log into MCo-opCash through *667# or MCo-opCash app
2. Select WITHDRAW CASH
3. Select ATM
4. Follow the instructions
5. Receive SMS with a 6-digit SECRET CODE. (valid for only 2 hours)
6. On the ATM screen, click MCO-OPCASH WITHDRAWAL
7. 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
20. How do I withdraw cash at a Co-op Kwa Jirani Agent?
1. Log into MCo-opCash through *667# or MCo-opCash app
2. Select WITHDRAW CASH
3. Select CO-OP KWA JIRANI AGENT
4. Follow the instructions
5. Receive SMS with a REFERENCE NUMBER
6. Give the reference number, your MCo-opCash number, and original ID/Passport to the agent to complete the withdrawal.
Today, we are going to share 2 types of MCo-op cash loans that may be of help to you when in a financial fix.
The app is a mobile banking service by Co-operative Bank of Kenya that offer different services to its customers.
They include:
- Saving and depositing of money
- Application and repayment of loans
- Sending money from one Mcoop cash account to another, SACCO account or Co-operative Bank Account.
- Sending money to other mobile services, eg: M-Pesa and Airtel money.
- Withdrawal of money from Co-operative agent or ATM.
- Transfer of money to and from your Co-operative account or SACCO account.
- Purchase airtime for Safaricom, Airtel, Orange or Telkom subscribers.
- Pay different bills. Eg: KRA,DSTV and KPLC.
- Pay for goods and services.
- Pay school fees or rent.
- Check account balance or get mini statement.
- Buy, sell or transfer of shares.
- Turn on SMS alerts for credits and debits.
MCo-op Cash Loans
1. MCo-op Cash Business Plus Loan
This type of loan is normally given to clients with Co-operative Bank business account that has been in operation for at least 6 months.
Loan Features:
1. The minimum amount of money one can apply is Ksh. 100 and maximum Ksh. 500,000. This depends with your CRB score and turnover.
2. To apply for Mco-op Cash Business Plus loan:
- Dial *667# or download Mco-op cash app on Google Play Store.
- Register using either your National ID or Passport.
- Link your business account. This can be done at any Co-operative Bank branch in Kenya.
- Log in to your Mco-op cash app and apply for loan.
3. If successful, the loan amount will be deposited in to your MCo-op cash account. The money can be withdrawn at any Co-operative Bank ATM, Co-op Kwa Jirani Agent or M-Pesa.
NB: Co-operative Bank will be charge you 1.083% of the loan amount applied.
2. MCo-op Flexible Cash Salary Advance
This type of loan is short term and is given to clients who will repay next day.
Loan Features:
- One can borrow for as low as Ksh. 3,000 and maximum Ksh. 100,000.
- Recovery of the loan can be done within 1 to 3 months.
- No security is needed.
- Instant processing of loan.
- If you apply via MCo-op Cash loan app, you will not pay any facilitation fee.
How to Check Your MCo-op Cash Loan Balance
- Log in to MCo-op Cash app using the app or by dialling *667#.
- Choose “Loans”.
- Choose “Loan Enquiries”.
- Choose “Loan Balance” and follow the instructions.
If you have any feedback or complaint, please talk to us on:
-
- Call Center Numbers: 020-2776000, 0703027000
- Email: Customerservice@co-opbank.co.ke
- Whatsapp: 0736690101
