EQUITY Paybill Number 2024 (Charges and Transfers Explained!)

In recent months, Equity Bank’s new payment system, Pay with EQUITY (PWE), has been synonymous with interoperability. The PWE payment system allows merchants and Equity Bank account holders to receive funds from other mobile wallets using just one Equity Paybill Number. 

Customers can pay bills and transfer money to EQUITY Paybill holders from MPESA, Airtel Money, Pesa Link, and Equitel, among other mobile wallets. So, you no longer have to master different pay bill numbers if you are a customer, and you can pay with any of your mobile wallets.

And if you are a merchant, you don’t have to limit your customers to a specific payment route, and you get paid fast and safely. Of course, there are other benefits for customers’ standing and merchants, which I’ll share with you.

From a customer’s standpoint, the PWE provision allows you to transact up to Ksh 300,000 per transaction or up to Ksh 1 million per day. This is a rare provision that EQUITY customers continue to relish.

It is, however, essential to note that EQUITY, alongside other banks, reintroduced bank transfer charges. So, you’ll pay a small transaction fee when sending anything above Ksh 100 from the bank and other wallets to the EQUITY pay bill account. 

EQUITY Paybill Number (Charges and Transfers Explained!)

Here’s what I’ll discuss:

  • What’s the Pay with EQUITY?
  • What are the advantages of Pay with EQUITY?
  • How do you Pay with EQUITY?
  • What are the latest EQUITY pay bill charges?
  • How do you get an EQUITY pay bill number?

Let’s dive in!


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What’s Pay with EQUITY?

Pay with EQUITY, originally EazzyPay, is a centralized digitalized payment service allowing mobile users to transfer funds from their wallets to an EQUITY merchant till number.

The critical feature is interoperability, where PWE allows customers to make payments and transfers from these mobile wallets using one pay bill number (247247):

  • Equitel
  • Airtel Money
  • Eazzy Banking App
  • Pesa Link

What Are the Advantages of the Pay with Equity Paybill Number?

PWE has many advantages for customers and merchants, which include the following:

Pay with Equity Advantages to Customers 

PWE offers customers these payment advantages:

  • Interoperability – PWE allows you to pay EQUITY account numbers using MPESA, Airtel money, Equitel, Pesa link, and other recognizable mobile wallets. So you don’t have to limit yourself to one mobile wallet. 
  • Reduced cash dependency – PWE saves you from carrying cash since you can pay straight from your mobile wallet. 
  • Avoid bank queues – If you’ve to deposit money in an EQUITY bank, you don’t have to go to the bank and wait in line, which can take hours. 
  • Reduced cost – Until recently, customers enjoyed zero transaction charges when paying to EQUITY accounts and other banks. But even though these charges have been reintroduced, they aren’t costly, as we will see later. Besides, transfers under Ksh 100 are still free. 
  • Convenient payment – You don’t necessarily have to have money in your mobile wallet to Pay with EQUITY. You can do it straight from your bank account, even if it’s not an EQUITY bank. 

Pay with Equity Advantages to Merchants 

PWE offers merchants these advantages:

  • Interoperability – As a merchant, PWE allows you to receive money from other bank accounts and mobile wallets. 
  • Cashless hygiene – You don’t have to touch cash when you can receive payment via EQUITY pay bill. If you can avoid touching cash, that’s hygiene.
  • Instant reflection – Once a customer pays you, the money reflects in your account immediately, making accountability easy. 
  • Immediate cash access – You can access funds deposited into your pay bill account as soon as they reflect, which is instantaneous. 
  • Commission free – EQUITY doesn’t charge merchants commissions when collecting their funds. Thus, you don’t have to worry about extra deductions once you receive money in your account. 
  • Safe payments – Customers cannot quickly reverse pay bill transactions, which protects merchants from fraudulent customers. What’s more, it’s safe to receive payment via pay bill. 
  • Pre-qualified credit – EQUITY monitors your business volume and uses such information to determine your eligibility for credit facilities. 
  • Easy reconciliation – With all information on withdrawals and deposits available, PWE makes statement reconciliation easier. 
MPESA to Equity

How to Pay with the Equity Bank Paybill 

Here’s how to Pay with EQUITY, depending on your preferred payment method. 

How to Deposit Money from MPESA to Equity? 

Provided you are a registered M Pesa user, you can transfer funds from MPESA to EQUITY using these two options:

Option 1 – STK Menu

Follow these steps:

  • Tap the Sim Toolkit and select MPESA 
  • Go to Lipa Na MPESA and choose Paybill 
  • Enter the business number 247247 under Business Number 
  • Enter the recipient’s account number and then the amount to pay 
  • Input your MPESA pin and confirm it 

Option 2 – MPESA App 

If you’ve access to an MPESA app, consider using it. Its advantage is that it keeps the memory of your recent transactions, which means you don’t have to reenter the merchant’s pay bill number each time. 

Here’s how to transfer money from MPESA to Equity account using the M Pesa App:

  • Go to the MPESA app 
  • Enter your MPESA pin to open it 
  • Tap on the Pay tab at the top and select Paybill 
  • Enter the EQUITY pay bill number 247247 and then the recipient account number
  • Input the amount to pay and your MPESA pin 
  • Confirm everything 

How to Pay to EQUITY Till Number Using Airtel Money 

Follow these steps:

  • Go to your Airtel menu and select Make Payments 
  • Go to Paybill and enter the pay bill number 247247 
  • Enter the reference number and complete the subsequent steps 

Remember, you can also use the My Airtel app instead of the STK menu. 

Other Ways to Pay using the EQUITY Paybill Number;

  1. Using the EQUITY app – Log into your EQUITY App, go to Pay Goods & Services, and follow the steps. 
  2. Using Pesa link – Go to the Pesa link menu and select send to phone. Wait to enter the EQUITY Till Number and follow the subsequent steps.
  3. Via Equitel – Go to the Equitel menu and select My Money. Then choose Pay Goods & Services and follow the subsequent steps. 
Equity Bank Paybill

What Are the Latest Equity Paybill Number Charges?

EQUITY to MPESA and Airtel Charges 

From January 1st, 2023, the following charges apply to EQUITY to MPESA and Airtel Money transfers:

Transfer Amount (Ksh)To MPESA (Ksh)To Airtel Money (Ksh)
1 – 100 00
101 – 50010 11
501 – 1,00012 13
1,000 – 1,5001420
1,501 – 2,500 2325
2,501 – 3,5003335
3,501 – 5,0004345
5,001 – 7,5005555
7,501 – 20,0006565
20,001 – 150,0006765

MPESA to Equity Charges 

Note that when it comes to MPESA to EQUITY transactions, MPESA imposes the same charges as business till number charges. Here are the various fees you’ll incur when sending money from MPESA to EQUITY Business Till Number.

Amount Limit (Ksh)Charge (Ksh)
1 – 100 
101 – 500 6
501 – 1,00012
1,001 – 1,500 22
1,501 – 2,50032
2,501 – 3,500 51
3,501 – 5,00055
5,001 – 7,50075
7,501 – 10,00087
10,001 – 15,00097
15,001 – 20,000102
20,001 – 35,000105
35,001 – 50,000105
50,001 – 150,000105 

How to Get Equity Paybill Number?

You must first become a PWE merchant to get an EQUITY pay bill number. Here are the requirements:

  • You must be running a legal business 
  • You must have an EQUITY bank collection account 
  • And you must accept the PWE terms and conditions availed to you. 

You’ll then need to fill out a PWE merchant’s application form, which you can get at any EQUITY outlet or online. Once your application falls through, EQUITY Bank will happily issue you one Paybill number, which you can use to receive money from different mobile wallets and banks. 

Equity Paybill Number

People Also Ask 

1. How Do I Deposit Money into My EQUITY Account Via MPESA?

Here’s how to deposit money from MPESA to Equity account:

  • Go to MPESA, Lipa Na MPESA, and then Paybill on your phone
  • Monster the EQUITY pay bill number 247247 
  • Enter your EQUITY account number and the amount to deposit
  • Key in your MPESA pin and confirm the transaction. 

2. What Is the Paybill Number for Equity Bank?

Currently, EQUITY Bank allows its merchants to receive payments from mobile wallets using the pay bill number 247247. 

3. What Is the Paybill Number 247247?

The pay bill number 247247 is a centralized EQUITY bank merchant’s pay bill number that allows EQUITY Merchants to receive funds from different mobile wallets. That includes MPESA, Pesa link, Airtel money, and Equitel. 

4. How Do I Pay from MPESA to EQUITY Paybill?

You can pay from MPESA to EQUITY pay bill by going to MPESA, then Lipa Na MPESA, and lastly, Paybill on your phone. Then, use the pay bill 247247 under Business Number, enter the merchant’s number as the account number, and follow the subsequent steps.

Remember, the merchant’s number can also be your EQUITY bank account if you transfer to yourself. 

5. How Do I Send Money from Safaricom Line to EQUITY Bank Account?

You need two things to send money from a Safaricom line to an EQUITY bank account. First, the Safaricom line should be registered with M Pesa and have enough funds to shoulder the transaction fees. 

Second, you must have the recipient’s account number. Once you have the two, you can send the funds as you do with any Lipa Na MPESA business till transactions. 

In that case, go to MPESA, Lipa Na MPESA, and Paybill. Then input the pay bill number 247247, the recipient’s account number, and the amount. And lastly, input your MPESA pin and confirm the transfer. 

Closing Remarks 

Above is everything to know about the Equity Paybill Number. This centralized payment service indeed benefits both EQUITY merchants and customers. Its interoperability advantage is incomparable, and no one can question its convenience. 

So, the next time you don’t want to carry cash, load funds into your mobile wallet and look out for an EQUITY pay bill number. But if you are a business owner who has yet to include this payment, it’s about time you do that so as not to miss on some customers. 

And if you need clarification on something mentioned in this review, contact us on social media. We’ll be happy to clarify and help you get started on your interoperability journey with PWE. 

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Written by Alex

Written by Alex

I have passion in helping people Make, Manage, Multiply & Protect Wealth.Download my Free Guide to Financial Freedom >>[ GET IT HERE]<<