Home INFOMATIVE Cooperative Bank Kenya Account Opening Requirements, Types of accounts and charges

Cooperative Bank Kenya Account Opening Requirements, Types of accounts and charges


Cooperative Bank is among the best banks in Kenya. It offers you the opportunity to open an account, save money, take loans and mortgages. Below we provide the list of accounts for the bank, how to open each account and charges.

The basic requirements are: Original ID, Passport Photo, Copy of KRA Pin

Some accounts need opening balance which is Ksh 500 to Ksh 5,000. You are also required to pay Ksh 600 for the ATM card.

Salary Account


  • Minimum opening balance – Nil
  • Minimum operating balance – Nil
  • No Monthly Maintenance fee
  • Salary processing fee applicable
  • Access to Asset products such as Unsecured Personal Loan, Asset Finance, Mortgage and Cash Advance.
  • Debit card
  • Access to a credit card


  • Identity card/ Passport- original and copy
  • Passport Photo (To be taken at the branch)
  • Ksh. 600 for the Debit Card (inclusive of Excise Duty of 20%)
  • Copy of KRA PIN
  • A letter of introduction from the employer is not required

Salary account is important for anyone who is employed. But before you open this account, check there are monthly costs. The good thing is that Cooperative Bank has no minimum operating balance, they also don’t have minimum opening balance. I believe this is the best salary account in Kenya.

Current Account

Current account allows you to deposit and withdraw any amount of money at any given time. Monthly maintenance fee is Ksh 300 only. They also charge ledger fee of Ksh 35.


  • Cheque book
  • Ledger fee of Ksh. 35 per entry
  • Monthly maintenance fee of Ksh. 300
  • Operating balance -Nil
  • Statements issued monthly


  • Original ID Card or Passport as well as a copy
  • 1 referee
  • Minimum opening balances
    • Ksh 5,000 for individual account
    • Ksh 10,000 for companies or co-operative societies
  • (However, the above opening amounts are subject to change from time to time)
  • For companies, Memorandum and Articles of Association, Registration Certificate and Directors’ Resolutions are required.
  • Copy of KRA PIN

Children’s Account (Jumbo Junior)

Children Account is important. In case you die and leave your children young, the money will help them finance their education and operations.

The account will also be important when they eventually become adults. They will use the money to start business or buy assets.


  • Automatic membership to the Jumbo Junior Club, which entitles one to:
    • Free ele-bank on opening a new account
  • Discounted bank cheques for fees payment
  • Interest payable at 3%


  • Parent’s or guardian’s original ID Card as well as a copy
  • Copy of birth certificate of the child
  • Minimum opening / operating balance of KES 500
  • Debit card (optional) @ KES 600
  • Copy of KRA PIN

Youth Account (Young Ennovators Account)

Instead of opening a current account which is expensive to operate, open Youth Account. This account is ideal for people aged between 18 years and 35 years. The operating balance is nil and opening balance nil as well. You will be required to pay Ksh 600 only for the credit card.

Requirements include Original ID Card as well as a copy and a copy of KRA Pin

Goldfish Access Account

Goldfish Access Account is for the high net worth individuals. If you make over Ksh 200,000 per month, this is the ideal account for you. The account will help you get a loan of millions.


  • Minimum opening and operating balance of Ksh 50,000
  • Monthly maintenance fee of Ksh 400 for balances below minimum


  • Original ID Card or Passport as well as a copy
  • One referee
  • Minimum opening balance of Ksh 50,000
  • Copy of KRA PIN

Hekima Savings

It’s a savings account which attracts high interest. You will earn 2% to 8% interest per year. If you save Ksh 1 million, you will make over Ksh 50,000 interest per year.


  • Minimum opening balance – Nil
  • Minimum operating balance – Nil
  • Monthly maintenance fee – Free
  • Interest calculated daily on credit balances and paid quarterly
  • Permits only one withdrawal per calendar quarter
  • Regular statements every 6 months
  • No ATM or debit card


  • Original ID Card or Passport as well as a copy
  • Copy of KRA PIN

Haba na Haba Account

If you own a business,Haba na Haba is the best account to open at Cooperative Bank.You will get access to your money any time.The bank also allows you to take loans.


  • No minimum operating balance
  • Access to funds as many times as required
  • Account holder can access business loans
  • Debit card available for withdrawals as well as for payments purposes at all VISA branded points
  • Low monthly ledger fee
  • Offers transactional solutions to account holders
  • Convenient mobile banking and internet banking available


  • Copy of National ID Card
  • Minimum opening balance of Ksh 550
  • Copy of KRA PIN

MSME Current Account

Current Account
Debit Card
Mobile Banking
Internet Banking – Free monthly access Optional
Ledger Fees – Over the counter withdrawals,debit transactions Ksh 50 per transaction Ksh 35 per transaction Ksh 25 per transaction
Minimum Opening Balance Ksh 1,000 Ksh 2,000 Ksh 10,000
Monthly Maintenance Fees Ksh 100 per month Ksh 1,000 per month Ksh 2,000 per month
Minimum Operating Balance Ksh 300 _ _
Cheque Book Optional 1st cheque book free (100 leaves) All cheque books are free
Insurance – (Under Group Cover) Free Permanent and Total Disability Cover – Ksh 100,000 Free Permanent and Total Disability Cover – Ksh 500,000 Free Permanent and Total Disability Cover – Ksh 1,000,000
Credit Card Available on request Eligible – up to Ksh 100,000 Eligible – up to Ksh 500,000
Cash Handling Fees As per current tariff As per current tariff Free
Free PDQ Machine for Merchants Optional
*LNM / M-Collections Optional
Membership to Business Club – Ts&Cs Apply
Access to Executive Lobby Available on request Available on request Free Access to Executive Lobby
Dedicated RM
Waive monthly A/C maintenance fees if minimum A/C balance across the month is: Ksh 50,000 Ksh 200,000 Ksh 500,000

Mshiriki Current Account

Mshiriki Current Account is for chamas and groups. The best thing with this account is that you can take a loan as a group.


  • No minimum operating balance
  • Access to funds as many times as required
  • Cheque withdrawals making reconciliation easier
  • No monthly ledger fee
  • Free withdrawals
  • Free deposits
  • Groups can access group loans
  • Convenient mobile banking and internet banking available
  • Cheque book costs Ksh 10 per cheque leaf on requisition


  • Originals and copies of National Identity Cards of the official signatories
  • Minimum opening balance of Ksh 2,000
  • For registered groups, the following are necessary:
    • Group Registration Certificate
    • Group Constitution
    • Letter of introduction from the registering authority
    • Group minutes resolving to open the account
    • List of members with ID Numbers and signatures
    • Copy of KRA PIN

For informal groups, the following are necessary:

  • Signatories to open a joint account
  • Copy of KRA PIN

(NB: Group Registration Certificate and Introduction Letter are not required)

Cooperative Bank Mpesa Paybill Number is 400200

How to transfer money from your Mpesa to Cooperative Bank account

  1. Go to Lipa Na M-pesa, paybill option
  2. Enter Business Number 400200
  3. Enter Account number: the Co-opBank account you wish to deposit to.
  4. Enter the amount you want to deposit
  5. Enter the M-Pesa PIN and confirm the transaction
  6. You will receive a confirmation SMS from Mpesa immediately
  7. You will then receive a confirmation SMS with the details of the deposit from Co-operative Bank

Call Center Numbers: 020-2776000, 0703027000
Email: customerservice@co-opbank.co.ke
WhatsApp: +254736690101

Cooperative Bank ATM Withdrawal limit has been increased from Ksh 40,000 to Ksh 60,000. You can withdraw as many times as possible until the maximum limit is achieved.

In case you want to withdraw more than Ksh 60,000, you can go over the counter. You can also withdraw through your ATM card in another bank ATM.

Service     Amount (Kshs)     Charge (Kshs)    
Cash Withdrawals 100-5,000   50  
From Co-op Account/ SACCO Account/ Fethalink        
5001-10,000   70  
    10,001-20,000   80    
    20,001-30,000   100    
    30,001-40,000   120    
    40,001-50,000   140    
    50,001-100,000   250    
Cash Withdrawals                
With Kenswitch Card            
    Any amount     125    
Cash Deposits            
To Co-op Account/ SACCO Account/ Fethalink   Any amount   Free
Funds Transfer                
To Co-op Account/ SACCO Account/Fethalink            
    Any amount     50    
To another local bank account( via PESALINK)     0-500     0    
      501-10,000     42    
      10,001-50,000     62    
      50,001-100,000     82    
      100,001-200,000     112    
      200,001-999,999     152    
School/ College/ University Fees Payment            
With Card   Any amount 50  
With Cash   Any amount   Free
Utility Bills Payment                
KPLC Prepaid     Any amount     50    
Water Companies                
Balance Inquiry   N/A 10  
Mini Statement   N/A 20  
Other services            
NHIF Payments   Any amount   Free
County Payments   Any amount   Free
Other Government Payments e.g KRA   Any amount   Free

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