...

Co-op Bank Paybill Numbers [400200 or 400222]: How To Make Deposits To M-Pesa in 2024

Joseph Wenani
9 Min Read

Is the Co-operative Bank Paybill 400200 or 400222? This is a question that many Co-operative Bank Customers ask. This article presents you with everything about Co-operative Bank Paybill Number in 2024. Read to the end

The integration of Online banking services with M-Pesa in Kenya has changed how we handle money. Did you know you can send money to the Co-op Bank Paybill number? Yes, Co-op Bank has two Paybill Numbers, 400200 for individual accounts and 400222 for business transactions, which allows users to deposit money directly from their M-Pesa wallet into their Co-op Bank. Suppose you are a new user of Co-op Bank or a lifelong user looking to use Co-operative Bank PayBill Numbers to deposit money from Mpesa into your account. In this article, we will go through all the processes involved.

Understanding Co-op Bank Paybill Numbers

Mobile banking truth has changed the way we operate financial transactions. Unlike in the past, when we used to walk to ATMS to withdraw or deposit cash, the same process can be achieved with a few taps on our phones. The Co-operative Bank of Kenya of Kenya provides its customers with two significant Paybill numbers, 400200 and 400222, designed to facilitate various transactions for individuals and businesses.

What are Co-op Bank Paybill Numbers?

M-Pesa Paybill numbers bridge your M-Pesa account and your bank account, allowing for easy money transfers. Co-op Bank has designated 400200 for individual account holders and 400222 for businesses, enabling transactions that range from superficial fund deposits to large commercial payments​. Here is a recap of two Co-op Bank Paybill Numbers in 2024.

  • 400200: Primarily used by individual account holders for depositing money into their Co-op Bank accounts.
  • 400222: Businesses utilize it to receive payments directly into their Co-op Bank accounts from customers paying via M-Pesa.

Benefits for Individuals and Businesses

Using the Co-op Bank Paybill numbers offers several advantages, making banking transactions more accessible and efficient​​. Here are some key benefits:

  • They allow You to Conduct banking transactions from anywhere, anytime.
  • Transactions are processed instantly, saving time for both individuals and businesses.
  • Each transaction is secured with your M-Pesa PIN, reducing the risk of fraud.
  • For businesses, there are no charges for receiving payments through Paybill 400222, while customers incur standard M-Pesa transaction fees.​ 

How to Activate and Use Co-op Bank Paybill for Transactions

For Co-op Bank customers, the Paybill numbers 400200 and 400222 allow you to withdraw and make deposits to your account and M-Pesa. But to use them, they Must be Registered and Ready for use. Here is how to go about it: 

Activating Co-op Bank Paybill

The activation process for Co-op Bank’s Paybill number is straightforward, enabling customers to set up and use the service for transactions quickly. Here’s a simple guide to get you started:

For Individuals

  1. Access the M-Pesa menu on your mobile device.
  2. Choose the ‘Pay Bill’ option and input 400200 as the business number.
  3. Enter your Co-op Bank account number.
  4. Follow the prompts to finalize the setup.

For Businesses

Businesses looking to receive payments via Paybill 400222 need to apply for an M-Collection Code by:

  1. Go to any Co-op Bank branch.
  2. Filling the M-Collection Form and submit it along with any other requested documents.
  3. Once processed, you’ll receive the M-Collection Code
  4.  to accept M-Pesa payments into your Co-op Bank business account​ .

Making Deposits and Payments

Once activated, using the Paybill numbers for transactions is easy. Here’s how:

Deposits to Co-op Bank Account

To deposit money into a Co-op Bank account:

  1. Go to M-Pesa, select ‘Lipa na M-Pesa’, then ‘Pay Bill’.
  2. Enter the Business Number (400200 for individual accounts).
  3. Input your Co-op Bank account number as the Account Number.
  4. Specify the amount and confirm the transaction with your M-Pesa PIN.​

Payments to Businesses

Businesses using Paybill 400222 can receive payments by instructing their customers to:

  1. Access M-Pesa and select ‘Lipa na M-Pesa,’ then ‘Pay Bill.’
  2. Enter the Business Number (400222).
  3. Input the specific M-Collection Code as the Account Number.
  4. Complete the payment process with the specified amount and M-Pesa PIN.

Co-operative Bank Paybill Number Charges

Is sending money from M-Pesa to a co-operative bank free? Sending money from M-Pesa to Co-operative Bank is only partially accessible. There are some M-Pesa transaction fee charges applied to your M-Pesa balance. The charges vary depending on the amount you are transacting​ ​. Below are the charges applied:

Amount (Ksh)Charge (Ksh)
1 -100Free
101 – 5007
501 – 1,00012
1,001 – 1,50023
1,501 – 2,50033
2,501 – 3,50053
3,501 – 5,00057
5,001 – 7,50078
7,501 – 10,00090
10,001 – 15,000100
15,001 – 20,000105
20,001 – 250, 000108

How To Withdraw Money from Co-operative Bank to MPESA?

You can withdraw money from Co-Op Bank to MPESA using the Co-Op Bank USSD Code *667# or the M-Co-Op Cash App. Here is a simplified process:

  1. Dial *667# and call.
  2. Enter your Mcoopcash PIN (4 digits).
  3. Select Option 8 for Withdrawal cash.
  4. Choose where to withdraw from – Agent or ATM.
  5. Select the beneficiary’s phone number.
  6. Select the account to debit.
  7. Enter the amount and confirm the transaction.

After this process, you’ll receive an SMS notification from Co-Op Bank and PMPESA to confirm that the transaction has occurred.

How much does Co-operative Bank charge to transfer money to M-Pesa?

Here are the charges:

Amount (Kshs)charges (Kshs)
10 – 100Free
101 – 50020
501 – 2,50024
2,501 – 7,50028
7,501 – 20,00036
20,001 – 30,00040
30,001 – 70,00050

How do I get M-Pesa Paybill?

You may apply for an M-PESA Paybill account through one of the following: Online application by visiting the M-Pesa Portal and signing up for Paybill creation or by Visiting Safaricom shop with a filled-in application form and the relevant documents.

What should I do if I accidentally send money to the wrong Co-op Bank account?

If you send money to the wrong account, initiate a reversal by contacting Co-operative Bank Customer Care Immediately. You can get in touch with them by calling +254-703-027-000 or +254-20-277-6000. 

Conclusion

And there you have it, my friends. If you are a little confused about whether Paybill numbers 400200 and 400222 are Co-op Bank’s Paybill numbers, I believe this guide has explained it well. Whether you’re an individual looking to make deposits or a business seeking to streamline payment processes, these two Paybill numbers offer a reliable solution. In this blog post, I have taken you through all the steps involved in using the Paybill Numbers, including activation and making deposits and withdrawals. Now you have the Knowledge in your hands, and it’s up to you to apply it. Remember, even as Mobile banking technologies evolve, always safeguard your Banking credentials, including Your M-Pesa Pin and Co-op Bank accounts, to avoid losing your money. If you need clarification on any part of the article, comment below, and I will get back to you personally. 

All the best

Share This Article
Leave a comment
Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.