How To Send Money From Equity Bank to M-Pesa Using Equitel.
Sending money from your Equity Bank account to an M-Pesa wallet is quick and straightforward using your Equitel line. Equitel is Equity Bank’s mobile banking platform that runs on a special SIM card, allowing you to access banking services directly from your phone without needing to visit a branch or use the mobile app.
Here is a step-by-step guide on how to transfer money from your Equity account to any M-Pesa wallet using Equitel.
Step-by-Step Guide Using Equitel Menu
-
Go to Your Equitel Menu
-
Open the Equitel Menu on your phone. You can do this by dialing *100# on your phone, or by selecting the Equitel Menu option from your phone’s SIM toolkit applications.
-
-
Select ‘My Money’
-
From the main menu, choose My Money. This section allows you to manage all your financial transactions, including sending money, paying bills, and checking balances.
-
-
Select ‘Send / Pay’
-
After selecting My Money, choose the Send / Pay option.
-
-
Select ‘Account’
-
From the available options, select Account to proceed with the transaction.
-
-
Select ‘To Others’
-
Next, choose To Others. This option allows you to send money to mobile money wallets like M-Pesa, Airtel Money, and T-Kash.
-
-
Select ‘M-Pesa’ as the Mobile Money Provider
-
Choose M-Pesa from the list of mobile money providers.
-
-
Enter Recipient’s Phone Number
-
Input the recipient’s M-Pesa registered phone number. Double-check the number to ensure it is correct before proceeding.
-
-
Enter Amount
-
Enter the amount you wish to send to the recipient’s M-Pesa wallet. Ensure the amount is within your available account balance.
-
-
Confirm Details
-
Review the transaction details, including the recipient’s phone number and the amount to be sent. Ensure all information is accurate.
-
-
Enter Your PIN
-
To complete the transaction securely, you will be asked to enter your Equitel PIN. This ensures that only you can authorize the transfer.
-
-
Receive Confirmation SMS
-
Once your transaction is successfully processed, you will receive a confirmation SMS from both Equitel and M-Pesa confirming that the money has been sent to the recipient’s mobile money wallet.
-
Alternative Method Using *247# USSD
You can also send money using Equity Bank’s universal USSD code:
-
Dial *247# from your Equitel line
-
Select “Send Money”
-
Choose “To Mobile Wallet”
-
Select “M-Pesa”
-
Enter the recipient’s phone number
-
Enter the amount
-
Enter your PIN to complete the transaction
Transaction Charges for Equitel to M-Pesa Transfers
Equitel charges a fee for sending money to M-Pesa. Here are the current charges:
| Transfer Amount (Ksh) | Charge to M-Pesa (Ksh) |
|---|---|
| 1 – 100 | 0 |
| 101 – 500 | 10 |
| 501 – 1,000 | 12 |
| 1,001 – 1,500 | 14 |
| 1,501 – 2,500 | 23 |
| 2,501 – 3,500 | 33 |
| 3,501 – 5,000 | 43 |
| 5,001 – 7,500 | 55 |
| 7,501 – 20,000 | 65 |
| 20,001 – 150,000 | 67 |
Important Information
-
Transaction Limit: The maximum amount you can send per transaction is Ksh 150,000.
-
Processing Time: Transfers are typically instant, and the recipient receives the money in their M-Pesa wallet within seconds.
-
Account Balance: Ensure you have sufficient funds in your Equity account to cover both the transfer amount and the transaction fee.
-
Daily Limits: Check with Equity Bank for your specific daily transaction limits, which may vary based on your account type.
Money-Saving Tips
Batch Your Transactions
Instead of sending Ksh 500 three times (costing Ksh 30 total), send Ksh 1,500 once (costing Ksh 14). You save Ksh 16 on transaction fees.
Use Free Equity-to-Equity Transfers
If your recipient has an Equity Bank account, transfers between Equity accounts are free up to Ksh 300,000. Use this option instead of sending to M-Pesa whenever possible.
Factor Charges into Your Budget
If you need to send someone exactly Ksh 1,000, remember you will need Ksh 1,012 in your account (Ksh 1,000 + Ksh 12 charge).
Equity Bank Contacts
For further questions or assistance:
Phone:
-
+254 (20) 3226000
-
+254 (20) 2229262
Email: [email protected]
Website: www.equitybankgroup.com
Equitel Customer Care: Dial 300 from your Equitel line
Frequently Asked Questions
Can I send money from Equity to M-Pesa without using Equitel?
Yes, you can also use the Equity Mobile App. Log in to the App, select the Transact icon, select mobile wallet, select “send to someone new,” then select M-Pesa. Key in the recipient’s number or search your phone contacts.
What if I enter the wrong phone number?
Always verify the phone number before confirming. If you send money to the wrong number, contact Equity Bank immediately with your transaction receipt to request a reversal.
How do I check my Equitel balance?
Dial *100# and select “My Money,” then “My Account” and “Check Balance.” Balance inquiries are free on Equitel.
Is Equitel cheaper than sending from other banks?
Equitel charges are competitive, especially for amounts below Ksh 5,000. Always compare fees across different platforms before making large transfers.
Related Posts
How To Deposit Money From M-Pesa To Absa Bank Account
How To Transfer Money From M-pesa To Cooperative Bank Account
10 Factors To Consider When Choosing The Right Bank For You
