Equity Bank provides a wide range of personal, business, corporate, chama, and diaspora accounts. Below is a detailed guide on the account types, features, and requirements.
1. Personal Accounts
(a) Equity Ordinary Account
- Features:
- No minimum operating balance or monthly charges.
- Full access to mobile and internet banking.
- Choice of prepaid, debit, or credit cards.
- Cash and cheque deposits.
- Requirements:
- Individual: Original ID and KRA PIN.
- Groups: Registration certificate, constitution, and minutes certified by the District Social Development Officer (DSDO).
- Introduction letter from DSDO.
(b) Current Account
- Features:
- No minimum operating balance or monthly charges.
- Chequebook and full access to mobile banking.
- Requirements:
- Individual: Original ID and KRA PIN.
- Groups: Registration certificate, constitution, and minutes certified by the DSDO.
- Introduction letter from DSDO.
(c) Investment Accounts
- (i) CDSC Account: Holds shares and facilitates electronic transfer.
- Requirements:
- Equity Bank account.
- Copy of ID/passport, passport-sized photo, and KRA PIN.
- Completed CDS 1 form.
- Requirements:
- (ii) CBK CDS Account: For treasury bills and bonds.
- Requirements:
- Equity Bank account.
- Copy of ID/passport, passport-sized photo, and KRA PIN.
- Completed CDS 1 form.
- Requirements:
2. SME/Small Business Accounts
(a) Equity Current Account
- Features:
- No minimum balance or monthly charges.
- Access to mobile banking and chequebooks.
- Requirements:
- Individual: Original ID and KRA PIN.
- Groups: Registration certificate, constitution, and DSDO-certified minutes.
(b) Social Institutions Account
- Features:
- No operating balance required.
- No withdrawal charges.
- Access to customized loans.
- Requirements:
- School registration certificate.
- Letter signed by Deputy County Commissioner for education.
- School board resolution.
3. Corporate Accounts
(a) Current Account
- Features:
- Flexible transactions, chequebook access.
- No minimum operating balance.
- Requirements:
- Original ID and KRA PIN (individuals).
- Registration certificate, constitution, and DSDO-certified minutes (groups).
(b) Social Institutions Account
- Features:
- Designed for non-profits, schools, and religious organizations.
- Access to loans and secure multiple approvals.
- Requirements:
- School registration certificate.
- Introduction letter and board resolution.
4. Chama/Group Accounts
(a) Group Account
- Requirements:
- Registration certificate, constitution.
- Minutes signed by chairman and secretary certified by DSDO.
- Introduction letter from DSDO.
(b) EazzyChama Account
- Features:
- Digital tracking of group contributions and transactions.
- No need for paperwork.
- Requirements: Same as the Group Account.
5. Diaspora Accounts
(a) Equity Ordinary Account
- Features:
- No minimum operating balance or monthly charges.
- Access to mobile and internet banking.
- Requirements:
- Recent passport-sized photo.
- Proof of address, copy of ID/passport, KRA PIN.
- FATCA W-9 and confidentiality waiver forms (for U.S. citizens).
(b) Diaspora Business Account
- Features:
- Free to open with no minimum balance.
- Access to internet banking and visa services.
- Requirements:
- Kenyan ID or valid passports of all directors.
- Business registration documents and tax PINs.
- Board resolution and CR forms.
Equity Bank Contacts
- Head Office: 9th Floor, Equity Centre, Hospital Road, Upper Hill, Nairobi.
- Phone: 0763 000 000.
- Email: [email protected].
For more details, visit Equity Bank’s website or nearest branch.
