Equity Bank and M-PESA, two prominent financial services in Kenya both ensure that you can access and manage your funds with a few simple steps. In this article, we will walk you through how to make an Equity Bank to MPESA transaction and vice versa.
How to Make an Equity Bank to MPESA Transaction
To initiate a bank-to-M-PESA transaction, you can use a USSD (short) code. Here’s a step-by-step guide:
1. Register for mobile banking or Internet banking
Before you can use the USSD code, you need to register for mobile banking or Internet banking through your branch. Once you’re registered, you’ll receive the unique short code, which will be essential for this process. For Equity Bank it’s usually *247#.
2. Dial the USSD number
Dial the provided USSD number on your mobile phone.
3. Follow the instructions
The USSD menu may vary from bank to bank, so it’s essential to follow the specific instructions given. Generally, you will be prompted to select the option for transferring money to M-PESA. Follow the on-screen instructions to enter the required details, such as the recipient’s M-PESA number and the amount you wish to transfer.
After you’ve completed the steps, you will receive a confirmation message, verifying the successful transfer of funds from your bank account to your M-PESA wallet. This confirmation ensures that your money is securely moved, and you can now use it as needed.
How to make an MPESA to Equity bank transaction
Transferring money from your M-PESA wallet to your bank account is equally easy. Here’s how to do it:
1. Go to the M-PESA menu
On your mobile phone, access the M-PESA menu.
2. Choose Lipa na M-PESA
From the menu options, select “Lipa na M-PESA.”
3. Enter the bank’s business number
To proceed, you’ll need to enter the bank’s business number. It’s crucial to consult with your bank or check their website for the accurate business number.
4. Enter your bank account number
After entering the business number, you’ll be prompted to input your bank account number. Double-check this number to ensure accuracy.
5. Specify the amount sending money between Equity Bank & MPESA 2023
Enter the amount you want to transfer from your M-PESA wallet to your bank account.
6. Enter M-PESA PIN
To complete the transaction, you will need to enter your M-PESA PIN, ensuring the security of your funds. You should receive an SMS once the transaction is successfully processed.