Sending money from Equity to another Equity account no longer free

I don’t know if anyone else has noticed this but Equity is silently introducing charges when you send money to another Equity account. I have noticed the charges whether I am using the Eazzy Banking app or the Equitel STK menu. It happened to me for the first time about two weeks ago and I thought it was a freak accident but it has become more common as all my transactions are now getting charged.

They have also introduced charges for transactions using the STK menu. For instance, checking the balance is free but a mini statement will cost you a whopping 5 shillings! All that for a mini statement of barely 10 transactions.

Did Equity announce that they will start charging in-house transactions or are they banking on our ignorance?

:laughing::laughing::laughing: Many people dont realize how much this is. Its too much actually. I dont use equity and I dont think I will. I think equity is expensive, eg; ku activate card, ku maintain account, dollar account costs etc.

They realized people are embracing the App as opposed to using Equitel. To solve that problem, charges on Equitel are free but on the App you are charged for the free services.

The charges were introduced last year. This is due to the interest rate cap that was introduced a few years ago.

And no, they are not ‘banking on our ignorance’ since the fee is displayed before you send the money, after you send it and on the transactions list displayed immediately after logging in.

You might want to try their online banking portal for that.

It is actually one of the cheapest (if not the cheapest) banks in Kenya with the least fees. Their foreign currency accounts are similar to their Ksh accounts. The minimum balance is just higher (100 USD/equivalent) but that is it.

They also offer competitive forex rates compared to most Kenyan banks. Still need better rates? Just call someone from their forex dept. and negotiate.

I have not paid any ‘activation’ or maintenance fee on any account I have with them.

Coop bank is cheaper, minimum balance is $20, there is no withdrawal fee and… I prefer stand alone forex to banks forex. alafu coop activation fee ya account is just depositing cash. a friend of mine paid 200 this month to activate a long forgoten account equity

Account reactivation fee is there. Paid it two years ago. I can’t remember how much it was but something close to 300bob.

Online banking had a subscription fee a few years ago. That is no longer the case.

So much has changed at Equity since I started banking with them in 2014/2015. I have a dollar account at Equity and I did not pay any activation fee. Just deposited some money and that was it.

It might have been the case but I don’t think they have an activation fee anymore.

This is anecdotal evidence. So many factors might have been in play.

Equity has a forex dept. that you can call and negotiate the rate. I always refer to Sky Forex rates before calling in.

I am also a heavy PayPal user and Equity is the only Kenyan bank that allows PayPal withdrawals.

Equity charges a Dormant Activation Fee of 220 bob.

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I thought @Omgitsdes was talking about a foreign currency account. My bad.

Isn’t this common for most banks?

Account reactivation fee for a dormant account that still exists. Not sure about other banks though but what I’m sure about is that some accounts won’t go dormant. For example, my UBA account is still active. Opened and left it unused 5 years running.

For internet banking that is true. It’s now free.

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True. I find it not appropriate to own equitel Sim. App is easy and simple.
But its Expensive as said above by @Omgitsdes

Replacing card was 500 but then going early this year its was 680 bob. Thats too much

Here are the Eazzy Banking App Rates in case anyone is interested.

Eazzy Banking App Rates.pdf (79.3 KB)

MCo-op Cash rates here

Mco-opcash Tariff Guide - August 2017.pdf (240.9 KB)

Most of the fees you guys are talking about are one-off costs.They are not a true reflection of the actual cost. Most people will never know they exist.

The transactional charges on the app are similar to co-op bank fees.

Co-op bank used to charge me for airtime purchases (still do), 5 bob for SMS alerts and they have lower transaction limits (Pesalink and mVisa have solved this)

I don’t think there is any Kenyan bank that can beat Equity at offering great convenience at a fair price.

Thank you. Those files are useful

I also stopped using equitel for payments, the minimum you can send for each transaction is 35k, The equitel to mpesa transactions are now much more expensive than just using mpesa direct, they no longer have the competitive prices, so Mpesa will be king for longer.


Equitel to Mpesa charges are insane. Mobile money inter-operability should reduce the cost if it gets implemented.

They used to have this on the Equitel website.

Full story here -

If your money is in your Equity bank I think it more convinient to send straight from your equity account. For some amounts (i think above 5k) its even cheaper than MPESA. I don’t think I’ll stop using it because of the new fees. I mostly send money to MPESA users anyway.

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The economics is in the volumes. These five bobs add up very quickly if you use Equitel a lot.


Good points @General. I guess I just wasn’t paying attention to the notifications but now I’ll bear the charges in mind when transacting.