SHOCKING DOCUMENTS REQUIRED BEFORE OPENING A BANK ACCOUNT IN KENYA

Requirements to open a bank account from any bank in Kenya guides you on what you need or what you should have to be able to own a bank account in Kenya.

With banking sector in Kenya having grown tremendously, many banks are making it easy for clients to own a bank account and be able to transact easily. This has been necessitated by the adoption of internet banking by most banks.

With internet banking you can now open a bank account with the bank of your choice at the comfort of your home. However, the bank must first be offering the internet banking services for one to be able to open a bank account online.

With the internet banking in place many Kenyans still opt for physical presentation at the banking halls to open a bank account. This is the best way as apart from getting an account, you will be able to ask questions and get answers on the spot. It will also be easy for you to present the relevant documents needed in real time. So what are the requirements to open a bank account in Kenya?

Regardless of the bank you will visit, below are some of the documents you will be asked by most of the bank to be able to open a bank account.

Requirements to open a bank account in Kenya

• Original National ID or Passport and its copy
• A copy of KRA PIN Certificate
• Initial deposit amount eg Ksh.200
• If you wish to apply for a debit or credit card, you will need to have Ksh.720 to be deposited into your account before the card is processed and handed to you.

Once you are at the banking hall, the following will happen during the processing of your a account number;

• Your details will be taken from the documents presented
• You will fill an account opening form with your details
• Append your signature on the application form.
• Your fingerprints will be taken and attached to your application
• An account number will be processed for you.
• You will then be presented with a card containing your bank account number together with the name of the bank.
• If you wish to apply for a debit card, it will be processed within the same day and handed to you.

So which is the best bank to open an account with in Kenya?

Well, this might be a difficult question to answer. However, the type of account you want, accessibility, charges and safety of your money might be some of the factors to consider before you open a bank account with any bank.

Below is a list of some of the best banks to open an account with.

Best banks to open an account with in Kenya.

• KCB bank
• Equity bank of Kenya
• Cooperative bank
• Family bank
• National Commercial Bank of Africa (NCBA)
• Standard Chartered Bank
• Absa Bank
• Bank of Africa
• Access Bank
• National Bank
• Post Bank
• Eco Bank

And the list is endless. Owning a bank account can be one step in the right direction as it open opportunities for you to apply for loans or get access to various  financing options.

Sourced from Majira.co.ke