How to Send Money from M-pesa to Equity Bank in Kenya

how to send money from mpesa to equity

How to Send Money from M-pesa to Equity Bank in Kenya

M-pesa and Equity Bank are two of the most popular financial services in Kenya. With Mpesa, you can send and receive money, pay bills, and buy airtime while Equity Bank allows you to access various financial services such as loans, savings accounts, and investments. If you need to send money from Mpesa to Equity Bank, the process is straightforward.

Step 1: Register for the Equity Bank M-pesa Service

To send money from Mpesa to Equity Bank, you must first register for the Equity Bank M-pesa service. You can do this by visiting any Equity Bank branch with your National ID and filling out a registration form. You will also need to provide your M-pesa number to complete the registration process.

Step 2: Link Your Equity Bank Account to M-pesa

Once you have registered for the Equity Bank Mpesa service, you will need to link your Equity Bank account to Mpesa. You can do this by accessing M-Pesa menu on your registered phone and selecting the “Lipa na Mpesa” option. Select “PayBill” and enter Equity Bank’s PayBill number, 247247. Enter your Equity Bank account number and the amount you want to transfer. Confirm the details and enter your M-pesa pin to complete the transaction.

Step 3: Verify the Transfer

Once you have completed the transfer, you will receive a confirmation message from M-pesa. You can also log into your Equity Bank account to verify that the funds have been credited.

Advantages of Sending Money from M-pesa to Equity Bank

There are several advantages to sending money from M-pesa to Equity Bank, including:

Convenience: The process of sending money from M-pesa to Equity Bank is quick and easy, and can be done from the comfort of your own home.

Safety: Sending money from Mpesa to Equity Bank is a secure process, as all transactions are protected by a secure encryption system.

Accessibility: With M-pesa and Equity Bank, you have access to a wide range of financial services, allowing you to manage your money with ease.

Disadvantages of Sending Money from M-pesa to Equity Bank

While there are several advantages to sending money from Mpesa to Equity Bank, there are also some disadvantages, including:

Fees: There may be fees associated with sending money from M-pesa to Equity Bank, including transaction fees and currency conversion fees.

Availability: In some areas, the M-pesa and Equity Bank services may not be available, making it difficult to send money from M-pesa to Equity Bank.

Technical Difficulties: There may be technical difficulties that arise during the transfer process, such as network issues or system downtime.

Conclusion

Sending money from Mpesa to Equity Bank is a convenient and secure way to manage your finances in Kenya. With simple steps and a range of benefits, it’s easy to see why this method of money transfer is becoming increasingly popular. By following the steps outlined in this article, you can send money from Mpesa to Equity Bank with ease.

READ: HOW TO SEND MONEY FROM M-PESA TO KCB BANK ACCOUNT 

FAQs

Q1. How long does it take for the money to be credited to my Equity Bank account?

Typically, it takes a few minutes for the money to be credited to your Equity Bank account once the transfer has been completed.

Q2. Can I send money from Equity Bank to M-pesa?

Yes, you can send money from Equity Bank to Mpesa. All you need to do is log into your Equity Bank account and initiate a transfer to M-pesa.

Q3. Is there a limit to how much money I can send from M-pesa to Equity Bank?

Yes, there is a limit to how much money you can send from M-pesa to Equity Bank. The limit varies depending on your M-pesa account type and the amount of money you have in your account.

Q4. Do I need to have an Equity Bank account to send money from M-pesa to Equity Bank?

Yes, you need to have an Equity Bank account to send money from M-pesa to Equity Bank.

Q5. What do I do if I experience technical difficulties when sending money from Mpesa to Equity Bank?

If you experience technical difficulties when sending money from Mpesa to Equity Bank, you should contact Equity Bank customer support for assistance. You can reach them by phone, email, or through the bank’s website.

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