If you’re based in Kenya, chances are that you’re already familiar with Mpesa and Equity Bank, two of the most popular financial services providers in the country.
Mpesa is a mobile money platform that allows you to send and receive money, pay bills, and buy goods and services using your mobile phone.
Equity Bank, on the other hand, is a commercial bank that offers a wide range of financial products and services, including loans, savings accounts, and credit cards.
If you need to send money from Mpesa to Equity Bank, you’ll be pleased to know that the process is quick and easy.
In this blog post, we’ll guide you through the steps you need to follow to make a successful transfer.
We’ll also highlight some tips and tricks to help you avoid common mistakes and ensure that your money reaches its intended destination.
Send Money from M-Pesa to Equity Bank
Step 1: Ensure that your Mpesa account is active
Before you can send money from Mpesa to Equity, you need to ensure that your Mpesa account is active and has sufficient funds to cover the transfer.
If you’re not sure whether your account is active, you can check by dialing *234# on your mobile phone and following the prompts.
You’ll also need to have an active Equity Bank account, as this is where the money will be sent.
Step 2: Dial the Mpesa menu
Once you’ve confirmed that your Mpesa account is active, the next step is to dial the Mpesa menu on your mobile phone. To do this, dial *234# and press send.
This will bring up the Mpesa main menu, which contains a list of options that you can select from. You can also use your Sim toolkit.
Step 3: Select “Lipa na Mpesa”
From the Mpesa main menu, select “Lipa na Mpesa” (Pay with Mpesa) by entering “2” and pressing send.
This will take you to a sub-menu with a list of options.
Step 4: Select “Pay Bill”
From the “Lipa na Mpesa” sub-menu, select “Pay Bill” by entering “2” and pressing send.
This will bring up a list of billers that you can pay using Mpesa.
Step 5: Enter the Equity Bank Paybill number
To send money from Mpesa to Equity, you need to use the Equity Bank Paybill number. Enter “247247” as the business number and press send.
Step 6: Enter your Equity Bank account number
Next, you’ll need to enter your Equity Bank account number as the account number.
This is the account that the money will be sent to. Make sure that you enter the correct account number to avoid any delays or errors.
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Step 7: Enter the amount you want to transfer
After entering your Equity Bank account number, you’ll be prompted to enter the amount you want to transfer. Enter the amount and press send. Make sure that you have enough funds in your Mpesa account to cover the transfer.
Step 8: Enter your Mpesa PIN
To complete the transfer, you’ll need to enter your Mpesa PIN. This is a four-digit number that you use to authorize transactions on your Mpesa account. Enter your PIN and press send.
Step 9: Confirm the details of the transaction
After entering your Mpesa PIN, you’ll be asked to confirm the details of the transaction.
Check that the amount and account number are correct, and then confirm the transaction by pressing send.
You’ll receive a confirmation message from Mpesa once the transaction is complete.
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Tips and tricks for sending money from Mpesa to Equity
- Make sure that you have enough funds in your Mpesa account to cover the transfer, as insufficient funds can cause the transfer to fail.
- Double-check the Equity Bank account number that you enter to ensure that it’s correct. Using an incorrect account number can result in the money being sent to the wrong account or getting lost.
- Be mindful of the transaction charges associated with the transfer. Mpesa charges a fee for sending money, which varies depending on the amount being transferred.
- Ensure that your Mpesa PIN is kept confidential to prevent unauthorized transactions on your account.
- If you encounter any issues during the transfer process, you can contact Mpesa customer care for assistance.
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Conclusion
In conclusion, sending money from Mpesa to Equity is a straightforward process that can be completed in just a few steps. By following the steps outlined in this blog post and keeping these tips and tricks in mind, you can ensure that your money is transferred safely and securely. As always, be vigilant and cautious when handling financial transactions to avoid any potential scams or fraudulent activities.