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This account is a tailored financial solution designed to help educational institutions manage their day-to-day finances efficiently. It offers seamless transaction processing, cash management services, and digital banking access, ensuring schools can handle fees, payroll, and other expenses with ease. With competitive features and dedicated support, this account simplifies financial operations for schools of all sizes.

Benefits

Zero Fees

Nil opening ac charge/balance. Nil transaction fees.

Zero Charges

Nil ledger/Monthly charges. Zero RTGS charges on amounts below 1M ((KES. 500 per transaction charge apply for amounts above 1M). Nil operating balance.

What We Need From You*

  • A letter of introduction from the County Director of Education authorizing opening of the account and list of authorized signatories; and/ or a circular from the Ministry of Education authorizing opening of the account.
  • Copies of IDs for the signatories to the account.
  • Resolution of the board on account opening listing the authorized signatories OR Minutes of Committee meeting indicating nature/purpose of account, signatories by name and mode of signing (If not covered in board resolution).
  • A letter from the School/County Director of Education forwarding the above documents.
  • Audited accounts: For existing entities – latest financial statements prepared by the entity and minutes of Board of management submitting the same.
  • Audited Change of mandates must be authorized by County Director of Education and backed by minutes of.
  • Change of mandates must be authorized by County Director of Education and backed by minutes of the committee/ resolution of the board.

Rates & Fees*

  • Nil opening ac charge/balance.
  • KES. 100 per transaction processing fee.
  • Nil ledger/Monthly charges.
  • Nil transaction fees.
  • Zero RTGS charges on amounts below 1M ((KES. 500 per transaction charge apply for amounts above 1M).
  • Nil operating balance.
  • Normal tariffs apply for Bankers cheque.

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