The Co-operative Bank of Kenya has partnered with WorldRemit, a leading digital money transfer company.
Their partnership will allow for money transfers to over 6 million Co-operative Bank accounts and 150 new cash pickup locations nationwide.
Kenyans living in the diaspora will be able to send money to their loved ones' personal co-op bank accounts in over 150 branches using the WorldRemit app or their website.
Director Retail Banking at Co-operative Bank of Kenya, Arthur Muchangi confirmed the bank’s commitment to supporting remittances.
“As a bank that handles some of the largest volumes of remittances to Kenya, Co-op Bank will continue to invest in partnerships that provide Kenyans in the Diaspora with the most affordable and secure means of transferring their funds home for domestic support, savings and investment," he stated.
"Co-operative Bank has a dedicated Diaspora Banking Center that is available 24/7 to serve diaspora clients irrespective of time zones, the first of its kind in Kenya," he added.
The Head of East and Central Africa at WorldRemit, Sharon Kinyanjui, revealed that Kenyans around the world use their service as the top choice when it comes to sending money home.
"We are delighted to partner with Co-operative Bank of Kenya, a trusted household name with strong ties to the diaspora and a shared commitment to financial inclusion, to further expand our network in the country and make our convenient service accessible to all,” she stated.
The transfers can be made directly from the senders’ mobile phones, and the receiver can withdraw the funds from a nearby Co-op Bank Agent, ATM or Branch.
WorldRemit is convenient as it saves its clients time and money, enabling them to send funds home in a few taps from their phones without having to visit a bricks and mortar agent.
Many Kenyans in the diaspora support family and relatives here at home to fund basic needs including education, food, housing and access to healthcare.
According to recent WorldRemit research based on national household survey data, Kenyans abroad contribute over Ksh 30 billion to children’s education nationally.
