Equity is a bank that is a leading financial services provider in Kenya. Equity was started as a society building project called Equity Building Society. Equity is licensed under Kenya Banking Act chapter 488. The bank offers retail banking and finance-related services.
Why create an Equitty Bank Account.
- The bank provides one with access and availability. The bank account is usually easy to open and one deposit and withdraw money anytime with limits at the Automated Teller Machine. There is also a 24hr online access system.
- The bank ensures protection of the clients’ money as they are insured hence money is safe and can be recovered.
- One store’s cash in liquid assets hence one does not have to be troubled about moving money around in investments.
- One can also acquire interest if he or she opens a savings account with Equity bank. A savings account accrues interest with time.
- Requires low start-up when opening a bank account. This is to encourage people to start saving with the bank with a modest amount.
- Equity allows automated payments of bills hence enabling a client to pay bills on time without withdrawing money from the bank to go and pay bills. The equity bank allows one to switch savings accounts as frequently as one likes.
How to Open an Equitty account using your mobile phone.
- One should take their phone and dial *247# and will be directed to a form where one will be required to put in their real first name and last name.
- One should choose their identification; ID card or Passport to identify them. One will be required to fill in all their identification details required from the ID or Passport.
- One will also be required to fill in the details of the person who referred them to open the account. One will be required to put in the Agent code if it was an Equity Agent or a mobile number of a customer who referred you and PF if it was a staff member from the bank that referred you.
- One is then required to read the terms and conditions of service offered by the Equity Bank and accept them.
- One will then receive 2 text messages that will contain your Equity Bank Account and the Pin of the bank account.
How to open an Equitty Bank Account through Eazzy Banking App.
- One should download the Eazzy Banking App from Google Playstore or Appstore and then install the application on your device.
- Click on the application to open it and tap on I am a new user in order to get started with opening the new bank account.
- One should then select I don’t have an Equity Bank Account and then proceed to provide their first and last name as it is in their ID or Passport.
- One will then be required to pick identification between the ID, Passport, or Alien ID.
- The new customer will then be required to put their identification details; Passport and ID numbers and other required information.
- One will then enter their mobile number and confirm the details they have provided. Then one will be required to read the terms and conditions of service that will be provided by the bank and accept them
- Equity will then proceed to send you a text that will contain your Equity Bank Account number and also the Pin of the account.
Types of Equity Bank Accounts.
- Transactional Accounts- This is made up of two accounts; a Personal current account which is convenient and flexible where one makes and receives payment for personal and business transactions and an equity ordinary account which is convenient for one to manage their money.
- Savings Account- There are three types of savings account; Eazzy save, Junior member account which is for kids under the age of 18 years, and Jijenge Account.
- School fees collection account. These are accounts opened by schools or learning institutions for them to receive payment of fees from students.