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CFC Stanbic Bank is one of the most digitized banks in Kenya and Africa, as well as Europe, the United States, and the Middle East, where the bank is widespread. In Kenya, CFC Stanbic Bank has partnered with MPESA, the leading mobile money service, to provide customers with a Paybill number to deposit money from MPESA to Stanbic Bank.
Using the Stanbic Paybill number 600100, you can directly deposit money from your MPESA wallet into your Stanbic Bank account and pay bills using Lipa Na MPESA to a merchant with a Stanbic bank account.
As a merchant, you can receive money fast and securely in your Stanbic account. And suppose it’s a direct deposit from your MPESA wallet into your Stanbic account. In that case, it allows you to conveniently transfer funds from MPESA to your bank account with much hustle.
Overall, CFC Stanbic Bank offers a variety of banking options, such as mobile banking (either via USSD or app), agency banking, internet banking, and automated teller machine banking, which I’ll discuss to help you settle on the best.
Here’s what we shall talk about:
- How to deposit money from MPESA to Stanbic Bank Via Paybill
- Charges for depositing from MPESA to Stanbic Bank via Paybill
- How to withdraw from Stanbic Bank to MPESA
- Ways to bank with Stanbic Bank
- International money transfer using Paybill number
Let’s dive in!
How to Deposit Money from MPESA to a Stanbic Bank Account Via Paybill Number
You must use the Paybill number 600100 to deposit money from MPESA to Stanbic Bank. That includes paying for goods and services rendered by a merchant with a Stanbic Bank account and directly depositing cash into your Stanbic account using your MPESA line.
Here are the general steps for transferring funds from MPESA to Stanbic Bank:
- Go to the MPESA menu on your phone or launch the MPESA mobile app
- Select ‘Lipa Na MPESA’ and then ‘Paybill.’
- Enter the Stanbic Bank Kenya Paybill Number 600100
- Enter the recipient’s Stanbic Bank account number
- Input the amount you want to deposit into the Stanbic Bank account
- Input your PIN, confirm the details, and tap ‘Send’
- Wait for confirmation SMSs from Stanbic Bank and MPESA
Remember, the maximum you can deposit per transaction is Ksh 150,000, and the maximum you can transact daily is Ksh 300,000.
Stanbic Paybill Charges
Like most banks in Kenya, Stanbic Bank allows you to transfer up to Ksh 100 from MPESA free. You, however, start incurring a small fee when you transfer anything above Ksh 100.
Here’s a table showing the various Paybill charges for transferring from MPESA to Stanbic Bank Kenya:
| Amount (Ksh) | Transaction Charge (Ksh) |
| 1 – 100 | 0 |
| 101 – 500 | 11 |
| 501 – 1,000 | 15 |
| 1,001 – 1,500 | 18 |
| 1,501 – 2,500 | 25 |
| 2,501 – 3,500 | 35 |
| 3,501 – 5,000 | 47 |
| 5,001 – 7,500 | 57 |
| 7,501 – 20,000 | 67 |
| 20,001 – 150,000 | 70 |
How to Withdraw Money from Stanbic Bank to MPESA
While you need a Paybill number to deposit money from MPESA to Stanbic Bank, you need a USSD code to do the opposite. Here’s how to go about withdrawing money from Stanbic Bank into your MPESA wallet:
- Dial *208#, which is the Stanbic USSD Code Kenya
- Follow the prompts to withdraw funds from Stanbic Bank into your MPESA wallet
- Wait for confirmation SMSs from Stanbic Bank and MPESA
Ways to Bank with Stanbic Bank
Currently, Stanbic Bank offers these five digital options of banking with them:
Option 1 – Mobile Banking with USSD
We’ve already covered the Stanbic Bank USSD code *208#, which you can use to withdraw funds from Stanbic Bank to MPESA. Moreover, you can use this code to pay for the Nairobi Expressway.
Here’s how to go about it:
- Dial *208# on your mobile phone
- Select ‘Pay for Nairobi Express Way’
- Choose ‘Top Up ETC or MTC’
- Follow the subsequent prompts to book your ticket on the Express Way
Option 2 – Mobile Banking with App
You can conveniently transact with a Stanbic Bank Kenya App 24/7 if you have a smartphone. The app allows you to open an account fast. It’s also secure, given that you can use face recognition or touch ID to access it.
Moreover, you can use it for balance inquiries, airtime top-ups, bill payments, mini-statements, forex rates, and for MPESA to personal account transfers. You usually receive instant notifications for transactions and expenses, and you can access salary advances and a loan calculator.
Additional Stanbic App
Stanbic Bank also offers another app, the Stanbic Chama App, specifically targeting groups with a shared savings goal. It could be families, friends, staff, or communities. You can use this mobile app for a Chama, wedding, estate initiative, long-term savings, or family event such as an anniversary or special ceremony.
Its advantage is that there’s no paperwork – everything is digitized. The transactions are also quite transparent as you can track everything, and it offers you automated account reconciliation, which is essential for group saving.
Furthermore, groups can use the savings to qualify for a loan, which they can use to attain their short-term or long-term goal.
Here’s how to set it up:
- Download the Stanbic Chama App from App Store or Google Play
- Set up your profile (include your identification details and selfie)
- Tap on ‘Create Chama’ and follow the prompts
After setting up Stanbic Chama, you can fund your account using any of these ways:
- Paybill number 600100
- Pesalink transfer
- Direct transfer from a Stanbic bank account
In all three cases, you should use 555 as your account number. For example, if your phone number is 0723232424, the account number will be 5550723232424.
Option 3 – Stanbic Internet Banking
Stanbic Internet Banking allows you to use your smartphone, tablet, or computer to securely log into your Stanbic Bank online account and bank with CFC Stanbic. You can open a savings account and manage it, make real-time payments, top-up your account for free, transfer funds, and access bank statements.
Here are the applicable charges for Stanbic internet banking and mobile banking:
| Amount (Ksh) | Transaction Fee (Ksh) |
| Up to 500 | 0 |
| 501 – 5,000 | 32 |
| 5,001 – 10,000 | 50 |
| 10,001 – 30,000 | 62 |
| 30,001 – 70,000 | 72 |
| 70,001 – 140,000 | 112 |
| 140,001 – 500,000 | 172 |
| 500,001 – 999,999 | 200 |
Option 4 – Stanbic Agency Banking
You can now bank conveniently at your nearest CFC Stanbic Bank agent. These agents employ secure systems to protect your financial information and allow you to transact in real-time. Furthermore, you can monitor your deposits, balances, and withdrawals, conveniently pay bills, inquire about your balances, and obtain mini-statements.
Option 5 – Stanbic Automated Teller Machine
Stanbic Bank allows you to bank with them at a designated CFC Stanbic Bank automated teller machine (or ATM). You can withdraw cash from your Stanbic Bank account or MPESA wallet at the ATM, request mini-statements, check balances, and change your ATM card PIN conveniently and securely.
About SimbaPay International Fund Transfer Using Paybill Number
Stanbic Bank and SimbaPay, a UK-based remittance service that allows cash transfers from the UK to Africa, partnered with MPESA to allow fund transfers using the Paybill number 4012867.
Here’s how to go about the transfer:
- Go to MPESA on your phone, then ‘Lipa Na MPESA’
- Select ‘Paybill’ and enter the business number 4012867
- Enter the recipient’s number under the account number starting with the country’s code +254 phone number
- Input your MPESA pin and confirm the transaction
- Wait for SMSs from SimbaPay and Stanbic Bank
Concluding Thought:
Generally, you must use the Stanbic Paybill number 600100 to transfer funds from MPESA to Stanbic Bank. That includes depositing funds from your MPESA wallet to your own Stanbic account and paying for goods or services rendered via MPESA into a merchant with a Stanbic Bank account.
For inquiries, contact the Stanbic Bank help desk using the helpline at +254 203 268 888 or 0800 720 044. Alternatively, email them at customercare@stanbic.com or visit any CFC Stanbic Bank branch near you to air your concerns.
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