Frequently asked questions

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How do I check my loan balance?
  1. Log into Co-op Bank app by dialing *667#.
  2. Select ‘LOANS’.
  3. Select ‘LOAN ENQUIRIES’.
  4. Select ‘LOAN BALANCE’.
  5. Follow instructions.

Check loan Balance on the App via: Eloans >> check balance

How many times can I apply for the loan?

You can apply for the loan as many times as possible, but you can only qualify for Co-op Bank App loan at a time.

If I have more than one registered mobile number, can I register for more than one Co-op Bank app account and apply for several loans?

You can register more than one Co-op Bank app account, but you can only take one Co-op Bank app loan at a time.

Can I top up my loan?

Yes. If you take a loan, which you opt to pay in 2 or 3 months, you can top up the loan after paying at least one installment. When you take a 1-month loan, you are allowed to access more amount which is within your limit before the loan falls due.

Can I access Co-op Bank app outside Kenya?

Yes. Through the Co-op Bank app which is internet-based.

What if I lose network signal during a transaction?

Whenever you successfully complete a loan application you will receive a confirmation message that the loan application is successful and the amount has been deposited in your Co-op Bank app account. If you do not receive this message due to a lost signal, check your account and re-apply for the loan if it did not get processed.

What if I lose my phone?

Your money is safe because your Co-op Bank app PIN protects your Co-op Bank app account. You are advised to block and replace your SIM card with your mobile phone service provider. With the new SIM card in place, and as long as you have maintained the same mobile number, you can continue to use your Co-op Bank app through *667#. To access through the app on your new phone, you will need to visit the nearest branch in order to re-set your new phone. This is a security measure the bank has put in place to protect you from fraud.

What if I forget my Co-op Bank App PIN?
  1. Dial *667# and reply with 1.
  2. To accept terms and conditions, reply with 1.
  3. Enter your National ID or passport number (whichever you used to register for Co-op Bank App).
  4. Select your preferred option which is either 1. Reset PIN via Mpesa transaction.
  5. If you select option 1. Reset PIN via Mpesa transaction, an Mpesa pop-up will appear requesting you to confirm a deposit of Kes 1.00 to your Co-op Bank App account by entering your Mpesa PIN. If you enter the wrong Mpesa PIN you will be required to repeat the process.
  6. Once you enter the Mpesa PIN, you will receive an SMS with a 6-digit password. This password expires after 30 minutes, after which you will be required to repeat the process. If you do not receive the password, call our contact center on 0703 0270000.
  7. Redial *667# and enter this 6-digit password.
  8. You will be asked to enter and confirm your preferred new Co-op Bank App PIN.
Can I reset my PIN through the Co-op Bank app?

No. the service is currently only available through *667#.

 

If I default on the loan, will the bank access money in my other Co-op Bank accounts?

Yes.

 

What happens if I stop receiving my salary or I lose my job and I have borrowed?

You will notify the bank about your job situation and agree on how you intend to pay the loan.

How do I withdraw cash at the ATM?
  1. Log into Co-op Bank app or dialing *667#.
  2. Select WITHDRAW CASH.
  3. Select ATM.
  4. Follow the instructions.
  5. Receive SMS with a 6-digit SECRET CODE. (valid for only 2 hours).
  6. On the ATM screen, click Co-op Bank App WITHDRAWAL.
  7. Enter your Co-op Bank app number, the Amount, and the Secret Code to complete the withdrawal.
  8. Withdrawal at the ATM costs Kes 30 for any amount up to Kes 40,000. You can withdraw up to Kes 40,000 per transaction up to a maximum of Kes 200,000 per day.
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