M-Sacco Services

This is a mobile banking product that enables customers to transact using their mobile phones. MSACCO was launched way back in 2009 and has since grown to offer real and diverse ‘Banking’ solutions.

How to use M-Sacco:

One has to be registered by filling application forms available online (downloads) or from your nearest branch and attach copy of Identity Card (ID). Registration applies to M-Pesa registered Safaricom lines only.

Once registered, you will receive an SMS from M-SACCO containing a four digit number known as Start PIN. This PIN MUST be changed for you to access M-Sacco menus. Dial *346# to change the Start PIN and enter new PIN (4 digit number). Many members tend to forget their M-Sacco PIN; we advise that you use your M-Pesa PIN so that you don't forget easily.

After changing the PIN, you will receive an SMS informing you that you have successfully changed your M-Sacco PIN. You can now dial *346# to access the service.

How to use MSACCO

Press *346# to access the MSACCO menu

Input your PIN. You will then get the following menus.

1. Withdrawal
2. Balance enquiry
3. Deposit to account
4. Pay Loan
5. Request Loan
6. Deposits/Shares Transfer
7. Inter FOSA Transfers
8. Mini statement

1. MORE send 98 to access additional MENUs
2. Other servicessend 9 to access other services

Please select one of the options below;

1. ATM
2. Cheque
3. Change Pin
   1. Salary must pass through FOSA
   2. Competitive interest rate.
   3. Repayable in one month.
   4. Amount given together with interest shall be equal or less than one monthly withdrawable amount.
   5. Insurance of 2%
   6. A maximum of Ksh. 40,000.

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1. Withdrawal

Through this service, the customer is able to get money from his/her savings account and credit it to the mpesa account.

Press *346# to access the MSACCO menu, Input your PIN.

Type the number against it i.e 1 to select withdrawal

Then send, ok, Answer based on the phone type.

Select A/c to withdrawal from i.e 1 to select the account number:

      1.682602****** or 682604******* or 682608******* based on the registered account type.

Enter amount to withdrawal.

Then send, okay.

Wait for MSACCO to reply

2. Balance enquiry

Registered MSACCO users can make balance enquiry . FOSA and BOSA balances are displayed.

Press *346# to access the MSACCO menu, Input your PIN.

Type the number against it i.e 2 to select balance enquiry

Then send, okay.

‘Wait for MSACCO to reply’

3. Deposit to Account

Type the number against it i.e 3 to select Deposit to Account

Select A/c to Deposit to i.e 1 to select the account number:

      1.682602****** or 682604******* or 682608******* based on the registered account type.

2. Enter the amount

Then send, okay.

The amount will be moved from your mpesa to your FOSA Account.

4. Pay Loan

You can equally pay your BOSA loan direct from your savings account.

Press *346# to access the MSACCO menu, Input your PIN.

Type the number against it i.e 4 to select pay loan

Then send, okay, answer

Select loan A/c (A listing of all outstanding loans will be displayed)

      1. ********

2.********* etc

       Enter amount to pay, then send, okay.

       Wait for MSACCO to reply

       5. Request Loan

A. M-Okoa

Customers who have registered for MSACCO can now access Okoa advance via their mobile phones. The maximum amount is Ksh. 40,000 subject to once ability on the basis of the net pay.

Conditions

For one to qualify for M-Okoa, he/she must be a member with shares/deposits equal to or more than the requested loan amount. The following is the procedure for Okoa advance application;

Press *346# to access the MSACCO menu, Input your PIN.

• Type the number against it i.e 5 to request for loan.
• Select a/c to link to your loan
• Select 1. For OKOA Advance
• Then send, okay, answer (The minimum and the Maximum amount will be displayed)
• Enter amount to borrow, then send, okay, answer
• Wait for MSACCO to reply
• Type the number against it i.e 5 to request for loan.
• Select a/c to link to your loan
• Select 2. For Dividend Advance
• Then send, okay, answer (The minimum and the Maximum amount will be displayed)
• Enter amount to borrow, then send, okay, answer
• Wait for MSACCO to reply
• Type the number against it i.e 5 to request for loan.
• Select a/c to link to your loan
• Select 3. For INUA Biashara
• Then send, okay, answer (The minimum and the Maximum qualified amount will be displayed)
• Enter amount to borrow, then send, okay, answer
• Wait for MSACCO to reply

B. Dividend Advance

This is a product available to members with deposits in BOSA and who qualify to be given dividends at the end of the year. The dividend advance rate is determined every year by the board of directors. The product will now be available from 1st September 2019.

Press *346# to access the MSACCO menu, Input your PIN.

C. INUA Biashara

This is a product designed by the SACCO for small scale traders i.e traders in the open air market, employees in the informal sectors etc.

Press *346# to access the MSACCO menu, Input your PIN.

6. Deposits/Shares Transfer

With the new platform, it’s now possible to pay for your BOSA deposits or share capital direct from your savings account to your BOSA account.

Press *346# to access the MSACCO menu, Input your PIN.

Type the number against it i.e 6 to select Deposits/Shares Transfer

Select FOSA source A/C

1.682602****** or 682604******* or 682608******* based on the registered account type.

Select destination type. Type the number against it i.e 1 for shares

      1. Shares

Enter amount to save, then send, okay, answer

Wait for MSACCO to reply

7. Inter FOSA Transfers

It’s now possible to make internal cash transfer direct from your savings account to other savings accounts i.e Tusomeni, Teens, Pamoja and others

Press *346# to access the MSACCO menu, Input your PIN.

Type the number against it i.e7 to select Inter FOSA Transfers.

Select FOSA source A/C

1.682602****** or 682604******* or 682608******* based on the registered account type.

Then send, okay, answer

Type in the destination account number. Ensure you input the whole account number.

Enter amount to transfer, then send, okay, answer

8. Mini Statement

For mini statement, Press *346# to access the MSACCO menu, Input your PIN.

Type the number against it i.e 3 to select Mini Statement

Select A/c to enquire from i.e 1 to select the account number.

1.682602****** or 682604******* or 682608******* based on the registered account type.

Then send, okay, answer

Wait for MSACCO to reply

9. Other services Menu

ATM

Cheque

Through this menu, customers are able to request for ATM cards or even stop ATM         cards. Customers can further request for cheque books and also stop any cheques issued.

     Press *346# to access the MSACCO menu, Input your PIN.

Type 98 and click on send to access additional menus. Type 9 to access other services.       The following will be displayed;

Please select one of the options below;

10. Change PIN.

Customers can also do airtime top ups to their mobile phones through the MSACCO   service.

How to deposit cash/pay loans/shares via M-PESA

Cash deposit to the account

• Go to M-PESA
• Lipa na M-PESA
• Paybill
• Enter Business no. (507900)
• Enter the account No. i.e 6826********01
• Enter the amount that you want to deposit
• Then send

Loan repayment and share/Deposit contribution

• Go to M-PESA
• Lipa na M-PESA
• Paybill
• Enter Business no. (507900)
• Enter the account No. i.e ID Number + Key word
• Enter the amount that you want to deposit
• Then send

Note:

For loan repayment and share/Deposit contributions, key in the ID No as the account number then input immediately after the ID no the keywords below based on what you want to pay for. i.e Assuming your ID no is 12345678 and you want to make share contribution, then the account no should be indicated as 12345678D. If making a loan repayment and the loan product is special then the account no should be indicated as 12345678SLN