Go digital with your chama. MobiChama allows your investment group to pay, save and borrow conveniently. It also provides accountability of deposits, withdrawals, and approval of loan requests by chama officials. What is KCB MOBI Chama?
KCB Mobi Chama is accessible on KCB’s Mobile Platform USSD code *522# It is available and visible ONLY to Members already registered on KCB Mobi Chama hence if one is not registered on the service, they will not view the Chama menu.
This can be done either by the group officials or at the branch. It is however recommended that group officials should add all new members to the group on KCB Mobi CHAMA. For a new member to be added, they must open an individual KCB account and register for KCB Mobile banking. Once this is done, one of the signatories will initiate the request to add the new member and the other two officials will approve the request. Upon approval, the member will be successfully added to KCB Mobi Chama and will receive an sms notification to confirm successful addition. For this to be done in the branch, written instructions which have been signed as per the group account signing mandate must be presented to the customer service for execution. KCB MOBI Chama
The proposed charges for transferring the funds from the group account to member account (Borrow Loan) is Kshs 10. This is in the process of implementation and will only apply to the groups that have opened TUUNGANE account. However, normal mobi charges will apply for all the other financial transactions. NB/: Addition and Removal of a member from a Chama are non – financial transaction that are offered free of charge. What is the Maximum loan granted to members on KCB Mobi Chama? The loan granted on KCB Mobi Chama is NOT a bank loan hence the limit will vary from one group to another. However, daily Mobi transfer limits will apply.
As earlier stated, this is not a bank loan hence the decision on the interest rate or repayment period is specified by the group in their group constitution which is submitted to the Registrar of societies during the registration process.
Just like any registered account, amendment of roles on KCB Mobi Chama will only be done at the branch upon provision of the necessary change of account signing mandate documents. This will have to be changed on T24 before implementing on KCB Mobi Chama. Existing change of account mandate processes and procedures for Tuungane account MUST be adhered to. KCB MOBI Chama
Mobi Chama is based on a Funds transfer financial model which is straight forward. Any queries on this service can be handled at branch level by the micro-banker or Mobi Checker & Maker, Customer Experience Unit or Head office units (Digital Financial Services Unit & Micro banking unit). KCB MOBI Chama
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