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The Cooperative Bank of Kenya has been at the forefront of embracing the latest payment solutions, and together with MPESA, they offer merchants and customers an easy way to transfer money via MPESA. We are talking about the Cooperative Bank Paybill, which makes payments seamless, quick, and safe.
Customers can transfer money from MPESA to any Cooperative Bank, including their individual Co-Op Bank accounts, using the Paybill number 400200. Meanwhile, merchants can reconcile payments in their Co-Op business account by receiving payments through the Paybill number 400222.
Ideally, one can use two pay bill numbers from Co-Op Bank. So it’s essential to differentiate them. I’ll explain the instances in which one can use both pay bill numbers and how to use them to effect an MPESA transaction.
Moreover, we’ll talk about the various charges that accompany using the Co-Op Bank pay bill number, among other important subjects. Here’s what we shall cover:
- What is the pay bill number for Co-Op Bank?
- Is Co-Op Bank Paybill 400200 or 400222?
- Can I transfer money from MPESA to a Co-Op Bank account?
- How do I withdraw money from Co-Op Bank to MPESA?
- What are the Co-Op Bank pay bill number charges?
- How do I reverse a wrong Co-Op Bank pay bill payment?
Without much further ado, let’s dive in!
What Is the Paybill for Cooperative Bank?
Currently, Cooperative Bank offers two Paybill numbers. First is the Paybill number 400200, which allows one to transfer money from MPESA to any Cooperative Bank account. The other Paybill Number is 400222, enabling merchants to reconcile payments received via MPESA.
Is Cooperative Bank Paybill 400200 or 400222?
As mentioned, Cooperative Bank has two Paybill number options. Let’s look at their differences:
Paybill Number 400200
Paybill Number 400200 is the most familiar Co-Op Bank Paybill number, and it allows you to send money from any MPESA number to a registered Co-Op Bank account. This Paybill Number applies to the following transactions:
- When sending money from one’s own MPESA account to one’s Co-Op Bank account
- When sending money from one’s own MPESA account to another person’s Co-Op Bank account
- When paying for ‘Buy Goods’ transactions via MPESA into a merchant’s Co-Op Bank account
Paybill Number 400222
The Paybill Number 400222 allows Co-Op Bank-registered merchants to receive and reconcile MPESA payments. This pay bill number is essentially a business pay bill number which applies to the following groups of merchants:
- Schools and other institutions
- Rental Properties
- Hospitals and other healthcare facilities
- Clubs and other membership forums
Unlike Paybill Number 400200, Paybill Number 400222 allows customers to include their names, institutions, locations, and other personal details to make the account reconciliation seamless.
For example, students paying for school fees will have to indicate the name of their school alongside their names and sometimes their class. On the other hand, tenants paying their rent can include their names and house number.
Here are the notable features of the Paybill Number 400222:
- Allows the customer to indicate personal details such as their names, house number, student ID, etcetera
- No account registration charges for merchants
- There is no charge on the merchant when receiving payments
- Customers incur standard MPESA Paybill transaction charges when paying via the Paybill number
- Payment reflects instantly on the merchant’s account, and the merchant gets a notification
How to Apply for the Cooperative Bank Paybill Number 400222
Suppose you are a merchant with a Co-Op Bank account. In that case, you can apply for the M-Collection Code, which allows you to receive MPESA payments into your Co-Op Bank business account. Here’s how to go about it:
- Visit any Co-Op Bank branch nearest to you to collect the M-Collection Form
- Fill out the form and meet all the requirements the bank asks of you
- Wait for the bank to process your M-Collection Code and hand it to you
- Go back with the code and start receiving payments into your Co-Op Bank business account
How to Make Payments Via Cooperative Bank Paybill Number 400222
Whether you are paying school fees, rent, hospital charges, or any other via MPESA into a Co-Op Bank account, you can do it using the Paybill Number 400200 as follows:
- Go to MPESA and then Lipa Na MPESA
- Choose Paybill Number and enter the Business Number 400222
- Enter the merchant’s M-Collection Code and # as the ‘account number.’
- Enter the payment amount and your MPESA PIN
- Confirm the transaction and ‘send’
The merchant will receive an instant notification of the payment once you complete the above steps. You’ll also receive an SMS notification from MPESA and Co-Op Bank, which can serve as your proof of payment – though it’s not necessary.
Can I Transfer Money from M-PESA to Cooperative Bank Account?
Yes, you can transfer money from MPESA to Cooperative Bank accounts. This is a typical deposit transaction where you’ll need the recipient’s Co-Op Bank account number plus the Paybill number.
If you want to send money from MPESA to your Co-Op Bank account or another person’s bank account, you can do it using the Paybill Number 400200.
Here’s how to send money to Cooperative Bank via MPESA:
- Go to MPESA on your cellphone and then Lipa Na MPESA
- Choose ‘Paybill’ and then enter the Business Number 400200
- Enter the recipient’s Co-Op Bank account number
- Input the amount to pay and the MPESA PIN
- Confirm the transaction details and ‘send’
You’ll receive two SMS notifications after completing the above steps. The first will be from MPESA, and the second will be from Co-Op Bank, which can serve as your proof of payment.
How Do I Withdraw Money from Cooperative Bank to MPESA?
Co-Op Bank doesn’t just allow you to transfer money to any Co-Op Bank account via MPESA, but you can also do the reverse (withdraw from Co-Op Bank to MPESA). That’s possible with the USSD Code *667# or the M-Co-Op Cash App.
Let’s talk about the USSD Code, and here’s how to use it to withdraw funds from a Co-Op Bank account to an MPESA wallet:
- Dial *667# on your cellphone
- Input your M-Co-Op Cash 4-digit PIN
- Select ‘Send Money’
- Select to ‘Mobile Number’
- Pick the service provider
- Choose the recipient’s MPESA number and account for debiting the amount
- Input the withdrawal amount
- Confirm the transaction and send
Again, you’ll receive an SMS notification for the transaction. One will be from Co-Op Bank, and the other from MPESA (if you are also the recipient).
Cooperative Bank Paybill Number Charges
Typically, merchants don’t incur any charge when signing up for the M-Collection Code to receive MPESA payments via Paybill Number 400222. Co-Op Bank account holders also don’t incur any charge to accept payments via the Paybill Number 400200.
However, customers incur standard MPESA transaction charges, depending on the amount transferred and here’s a table guide:
| Amount (Ksh) | Charge (Ksh) |
| 1 -100 | Free |
| 101 – 500 | 7 |
| 501 – 1,000 | 12 |
| 1,001 – 1,500 | 23 |
| 1,501 – 2,500 | 33 |
| 2,501 – 3,500 | 53 |
| 3,501 – 5,000 | 57 |
| 5,001 – 7,500 | 78 |
| 7,501 – 10,000 | 90 |
| 10,001 – 15,000 | 100 |
| 15,001 – 20,000 | 105 |
| 20,001 – 250, 000 | 108 |
Cooperative Bank Paybill Reversal
Sometimes, you may send money to the wrong account using the Co-Op Bank Paybill number. If that happens, you may have to initiate a reversal, which is often tricky. Here are, however, your options:
Option 1 – Use Text
MPESA nowadays allows you to reverse payments made to the wrong person by forwarding the text containing the transaction details to 456. They’ll then pick it up and follow up with the recipient.
If the recipient hasn’t used the money, Safaricom will reverse it even if the recipient doesn’t cooperate. The only danger is that you won’t get the total amount if the recipient had Fuliza, unless they agree to Fuliza back to you.
Option 2 – Contact Recipient
If it’s a withdrawal from Co-Op Bank to MPESA, you can directly call the recipient and implore them to reverse the money. You may have to be extra courteous to convince them to do so, as most of them are likely to pounce at the opportunity of free money. Once they cooperate, you should have your money back in minutes. This option should, however, come second to the 456 text option shared above.
Option 3 – Contact Co-Op Bank Customer Support
In case you are unsuccessful with the 456 text method, and the recipient proves too stubborn or can’t be reached, you can contact Co-Op Bank for assistance using any of these routes:
- Call: +254 703 027 000/+254 202 775 000
- WhatsApp: +254 736 690 100
- Email: customerservice@coopbank.co.ke
You can also visit the nearest Co-Op Bank branch and ask for the customer desk. You can then share your concerns. This route, however, can be complicated and may take a long time as you may have to write to the branch manager to explain your predicament.
Tips for Avoiding Sending Money to the Wrong Person
The Co-Op Bank Paybill reversal can take too long, and you may not get your money back sometimes. So, it’s imperative to be careful not to send the money to the wrong person when transacting. Here are some tips to help you do just that:
- Always double-check the recipient details before sending money via MPESA
- If there’s an issue during the transfer, cancel it immediately
- In case you notice that you’ve sent money to the wrong recipient, forward the MPESA message to 456
- Alternatively, call MPESA customer support immediately if you can’t reverse it using the SMS number 456
- Consider using the MPESA app, which allows you to save your most frequent contacts and their account numbers
Concluding Thought:
As shared, we have two Cooperative Bank Paybill numbers for MPESA transactions. The first one is 400200, which you can use to transfer funds from MPESA to any Co-Operative Bank account, including yours and pay for ‘Buy Goods’ transactions. The second one is the pay bill number 400200, which merchants use to reconcile payments, and it’s essential for schools, landlords, and other businesses and institutions with a Co-Op Bank account.
So, suppose you are a customer who wants to pay for transactions via MPESA. In that case, depending on the nature of your transaction, you can use whichever of the two Co-Op Bank pay bill numbers that the merchant or Co-Op Bank account holder recommends. This elaborate guide should make it easy to know what to do, depending on payment type.
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