It is during such instances that we say that technology is amazing. Equity is one of the major banks in Kenya. Due to that, it has a large number of clients. People nowadays don’t have to worry about losing their money since Equity has secured a way to transfer your cash without necessarily visiting the Bank. Through the Equity pay-bill number people can now send money from their M-Pesa to Equity Bank Account.
This method has so far proven to be fast, safe, and convenient. People now don’t have to worry about waking up early in the morning and standing in long queues in the bank. You can now transfer your money from your M-Pesa to your Equity Bank Account using your phone in the comfort of your own home. All you will need is an account number and Equity Bank’s M-Pesa pay-bill Number 247247.
Related: How to Open an Equity Bank Account online in Kenya
How much does it cost to send money from M-Pesa to Equity Bank Account?
Similar to normal M-Pesa transactions, M-Pesa to Equity account sending charges depend on the amount of money being transferred and the registration status of the recipient. There is a difference between a registered user of the service and an unregistered one.
Although M-Pesa has not specified tariffs for its wallet-to-bank transactions, it gives you a provision on how to calculate the charges before you consider finalizing the transaction. You do not have to figure this out with your normal phone calculator but rather with the Safaricom calculator designed for such tasks.
1. Go to the Safaricom website and select the M-Pesa tab.
2. Click on M-Pesa Charges.
3. M-Pesa charges will be displayed on the table. However, there is no table that specifies wallet-to-bank charges so we need to calculate the tariffs manually. Tap on the Get Rates icon on the right side just above Zuri.
4. The calculator will display. Select the type of transaction then enter the amount range and you will know your rates instantly. ly.
Transfer Money from M-Pesa to Equity Bank Account
1. On the Safaricom sim toolkit, go to M-Pesa.
2. Select Lipa na M-pesa.
3. Select Pay bill.
4. Enter 247247 as the business number or pay bill number.
5. Enter your Equity Account number.
6. Enter the amount of money you wish to deposit into your account.
7. Enter your M-Pesa PIN and press OK.
8. A message will be sent confirming your transaction from M-Pesa to Equity Bank. You will also receive another message from Equity Bank.
Wrap-Up: As long as you have a smartphone and use a Safaricom SIM card, you can easily and safely send money from M-Pesa to your Equity account or to other people. All that is possible through the pay bill number. Just ensure you follow the correct procedure, and when in doubt, call the relevant customer support team.