Co-operative Bank of Kenya has significantly enhanced its digital banking services by raising the daily limit for money transfers via its MCoopCash app to Sh2 million. This increase, which is four times the previous limit of Sh500,000, aims to provide customers with greater convenience amid a growing preference for digital transactions. The new policy allows users to transfer up to Sh1 million in a single transaction, facilitating seamless transfers between accounts.
The lender has communicated this change to its customers, stating, “Using MCoopCash, you can now transfer up to Sh2 million a day from one Co-op Bank account to another.” This adjustment not only reflects the bank’s commitment to improving customer experience but also aligns with the rising demand for more flexible and efficient banking options in the digital age.
In addition to the new transfer limits, Co-op Bank has previously increased its daily ATM withdrawal limit from Sh40,000 to Sh60,000 earlier this year, marking the first review in nearly a decade. These higher limits at both ATMs and on the digital platform are designed to decongest branches, which are increasingly being transformed into advisory centers for both small and large businesses.
The adjustments come in response to a Kenya Bankers Association survey, which revealed that 45.7 percent of customers now prefer fully automated or self-service banking options, including mobile and internet platforms. This shift in consumer preference underscores the growing trend towards digital banking solutions and the need for banks to adapt accordingly.
Co-op Bank has been recognized for its customer-centric approach, having been ranked as the best overall bank in customer experience for two consecutive years. This reputation highlights the institution’s dedication to meeting the evolving needs of its clientele while fostering a positive banking environment.
As Co-operative Bank continues to enhance its digital offerings, these changes reflect a broader commitment to providing innovative solutions that prioritize customer convenience and satisfaction. The bank remains at the forefront of the digital banking revolution in Kenya, ensuring that clients have access to safe and efficient financial services.
CoopBank #DigitalBanking #CustomerExperience #MCoopCash #Kenya #Innovation
