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Transferring Money from M-Pesa to Equity Bank in Kenya: A Step-by-Step Guide
How To Bank From Mpesa To Equity: Transferring funds seamlessly between your M-Pesa mobile money wallet and your Equity Bank account is a convenient option in Kenya. Here’s a comprehensive guide on how to do it:
Methods for Banking from M-Pesa to Equity:
Via Lipa na M-Pesa:
- Go to your M-Pesa menu.
- Select “Lipa na M-Pesa.”
- Choose “Pay Bill.”
- Enter Equity’s business number: 247247
- Enter your Equity bank account number.
- Enter the amount you want to transfer.
- Enter your M-Pesa PIN and confirm the transaction.
- You’ll receive SMS confirmations from both M-Pesa and Equity Bank.
Via Equitel Line:
- Dial *247# from your Equitel line (your number must be registered for mobile banking).
- Select “My Money” from the menu.
- Choose “Send Money.”
- Select “Send to Other Mobile.”
- Choose “M-Pesa.”
- Enter the phone number of the M-Pesa account you want to transfer from.
- Enter the amount you want to transfer.
- Confirm the transaction and enter your Equitel PIN.
- You’ll receive confirmation messages for the transaction.
Via Equity Mobile App:
- Log in to the Equity Mobile App.
- Select the “EazzyPay” option.
- Choose “Pay Bill.”
- Select “Enter Business Number” and type 247247 as Equity’s business number.
- Input your Equity account number.
- Enter the amount to transfer.
- Confirm the transaction details and proceed.
Important Notes
- Transaction fees: A transaction fee typically applies. Check the current rates before initiating a transfer.
- Confirmation messages: Ensure you receive confirmation messages from both M-Pesa and Equity for successful transactions.
- Account number: Double-check that you’ve entered your Equity bank account number correctly to avoid mistakes.
Advantages of Banking from M-Pesa to Equity:
- Convenience: Transfer funds anytime, anywhere using your phone.
- Speed: Transactions are processed instantly or within a short time.
- Accessibility: M-Pesa and Equity have extensive networks throughout Kenya.
- Security: These platforms incorporate security measures to protect your funds.
FAQs on Transferring Money from M-Pesa to Equity Bank
1: What are the different ways to transfer money from M-Pesa to Equity Bank?
A: You can transfer money through:
- Lipa na M-Pesa: Entering Equity’s business number and account details.
- Equitel Line: Dialing *247# and navigating through the mobile banking menu.
- Equity Mobile App: Use the “EazzyPay” option and enter the relevant details.
2: Are there any fees involved?
A: Yes, transaction fees typically apply. Check the current rates with M-Pesa or Equity before initiating a transfer.
3: How long does the transfer take?
A: Transactions are usually processed instantly or within a short time.
4: What should I do if I encounter any issues during the transfer?
A: Contact M-Pesa or Equity Bank’s customer service for assistance.
Conclusion
Transferring money from M-Pesa to Equity Bank is a convenient and secure way to manage your finances in Kenya. By understanding the available methods, fees, and considerations, you can efficiently transfer funds between your accounts whenever needed.