Mobile money transfer makes it easier to send money from your phone to a bank account in seconds. So if you want to learn how to transfer money from Mpesa to Cooperative bank, this guide is for you.
You can transfer money from M-pesa to Cooperative bank via M-pesa mobile app, by dialing 334 on your phone, or by using the SIM toolkit option. Note that you don’t need to have airtime to use the 334 code as it’s designed specifically for M-pesa.
In this guide, I’ll discuss all the three options, showing you exactly how to use each one to transfer money from your M-pesa account to any Cooperative bank.
Let’s get started.
How to Transfer Money from M-pesa to Cooperative Bank Accounts
The following are three ways to transfer money from your M-pesa account to any Cooperative bank account:
1. Use the Mobile App
Do you own an Android or iPhone smartphone? Then, you can use the M-pesa app to transfer money from your M-pesa account to a Cooperative bank account.
Download the app and setup your M-pesa account if you haven’t done so already.
The set up process shouldn’t take you long. Simply follow the instructions on the screen prompt and you will be ready to start using the app to initiate and complete transactions.
Once you have your M-pesa app account set up:
- Open the app on and enter your PIN to login.
- Tap on “Transact” option. Note that this option is below the screen just adjacent to the Services link.
- Under the Pay option, choose Paybill.
- Tap on “Enter Paybill Number”, enter 400200, and tap “Continue”.
- Key in the account number to which you’d like to deposit the money on the next screen.
- Enter the amount you would like to transfer from your M-pesa to Cooperative bank and tap on the “Continue” button.
A screen will appear with the details of the transaction that you wish to complete.
- Review the details and if they’re correct click the “Pay Bill” button.
- Complete the transaction by entering your M-pesa pin.
And that’s it.
2. Use Safaricom USSD Code
The second option to transfer money to yours or another person’s Cooperative bank account from M-pesa is via Safaricom USSD code.
For this option:
- Dial *334# if you are using a push-button phone.
- Go to “Lipa na Mpesa” and then opt for the pay bill option.
- Mpesa will prompt you to enter a paybill number. Key in 400200, which is Cooperative bank’s paybill number.
- Next, you will be prompted to key in an account number. Here enter your Co-op bank account number to which you would like to transfer the money.
- Enter the amount of money that you would like to send from your M-pesa account to the bank.
- Confirm it is you making the transaction by providing your Mpesa PIN.
Wait for the confirmation message from Mpesa – usually sent to you immediately after the transaction completes.
Cooperative bank will also send you a confirmation SMS with details of the sent deposit.
Sometimes the confirmation SMS may not come immediately, and such delays are completely normal.
Also, the transaction may have failed. So check your Mpesa balance and retry sending the money if you noticed that the transaction failed.
3. Use the SIM Toolkit
Another option, and often the most common one, is to use the SIM toolkit to deposit money from your M-pesa account to any Cooperative bank account.
For this method:
- Open the SIM toolkit and choose Safaricom
- Tap or select M-pesa and the choose Lipa na M-pesa.
- Select Paybill
- On the “Enter Paybill Number” screen, enter 400200, and tap “OK”.
- Key in the Cooperative bank account number to which you’d like to deposit the money on the next screen.
- Click “OK”
- Enter the amount you would like to transfer from your M-pesa to Cooperative bank.
- Enter your PIN to confirm the transaction.
- Review the details and if they’re correct click the “OK” to complete the transaction.
And that’s it.
Also Read: How to Transfer Money from M-pesa to Equity Bank
How to Withdraw Cash from Cooperative to M-pesa
You may be in a situation where you need money to pay for goods and services but don’t have money in your M-pesa account.
In such a case, you can withdraw from money your Cooperative bank account directly to your M-pesa wallet.
To do so:
You will need to have registered for online banking with Cooperative bank.
If you haven’t registered your phone number for the service, you will need to register yourself on retail-onlinebanking.co-opbank.co.ke or visit the nearest Co-operative Bank Branch for assistance.
If you have an account already:
- Dial *667#.
- Select the Mobile Money option.
- Go for the Mpesa option.
- Enter your Mpesa number or the mobile number to which you wish to transfer funds.
- Enter the Cooperative account from which you would like to transfer funds.
- Enter the amount of money you would like withdrawn from the chosen account and confirm the transaction details.
And that’s it. You will have the money immediately transferred to your Mpesa account followed by a confirmation messages for the transaction.
How to Contact Support If You’re Stuck
In case you are having a problem transferring money from your Mpesa account to your Cooperative Bank account, get in touch with Safaricom.
You can get in touch with Safaricom through:
- For Prepay: Call 100 (Free) or +254 722 002100, Email: customercare@safaricom.co.ke
- Post-Pay: 200 (Free) or +254 722 002200, Email: advantage@safaricom.co.ke.
Also, if you are having trouble transferring funds from your Cooperative bank account to your Mpesa account, contact Cooperative Bank.
You can get in touch with Cooperative bank through:
- Phone: 0703027000 , 020-2776000.
- Email: customerservice@co-opbank.co.ke
Also Read: How to Transfer Money to KCB from M-pesa
The Benefits of M-pesa to Cooperative Bank Service
The following are some of the benefits of using M-pesa to deposit money to yours or someone else’s Cooperative bank account:
1. Increased Accessibility
You don’t necessarily need to be a few steps away from a Cooperative bank to transact.
You can deposit money from your Mpesa to your Cooperative bank no matter where you are in Kenya as long as you have good network coverage.
2. Reduced Cash Dependency
The transaction between your Mpesa account and the Cooperative bank account is cashless.
This eliminates the need to carry tangible cash, which isn’t safe especially when on busy streets where thugs are also ready to threaten and steal.
You’re also able to track how you’re using your money through confirmation or transaction messages.
3. Increase in Transparency
Intermediaries who handle money transfers are out of the picture and that is a good thing because it increases transparency.
4. Cost of Transaction
It is much cheaper to transfer money from Mpesa to your Cooperative bank account since you are using the 400200 Paybill number.
Transferring money is completely free.
Frequently Asked Questions
1. How Much Does it Cost to Transfer Money from M-Pesa to Cooperative Bank?
It costs you nothing to transfer money from your M-Pesa account to Cooperative Bank account. Simply use the Cooperate bank paybill number 400200, which is free of charge.
Also, if you run a business like a shop, school, or rental that receives payments in bulk, you can request your customers to pay to your Cooperative Bank account via M-pesa.
2. Can Fast I Transfer Money from Mpesa to Cooperative Bank Account?
You can transfer funds from your M-pesa account to any Cooperative bank account in under 60 seconds. You just need to use the Paybill number 400200 and know the account number to which you would like to send the money.
Final Thoughts
Started in July 1968, the Cooperative Bank of Kenya is among the 38 approved banks in Kenya, and a trusted brand overall.
By working together with Safaricom, the bank has made it easier for you to transfer money from M-pesa to Cooperative bank accounts and vice versa.