Equitel multiple approval is a product of the Equity Bank launched in the Kenyan market. Equitel multiple approval is for investment groups, chamas and joint account holders. It enables the investment groups and joint account holders to easily transfer and withdrawal money from their account.
This enables all the members to save time that they could have used in the banks. This is time wasted in the long queues for the signatories of the group to withdrawal the money.
Equity Bank is one of the fast growing banks in Kenya. It is the best choice for the entrepreneurs and the various growing businesses. Equity Bank provides the best banking services to its customers. This is because its charges are low compare to the other banks in the market.
To make withdrawal and send money, all the signatories must approve the transaction by entering their pin. This is their signature anywhere and anytime. With Equitel multiple approval, each signatory must have his or her own Equitel line. Their Equitel line must be linked to their group or chama account in the Equity Bank.
How to withdrawal money from Equity Agent using Equitel Multiple Approval
Once they have successfully set up their joint or chama account, then they can easily check group or chama bank balance. In addition, they can also pay bills, send money to Equity Bank and also to the other banks. Finally, they can also Withdrawal money from any Equity agent or Equity branch.
- Go to my money
- Choose withdrawal money
- Agent withdrawal
- Select account
- Enter the agent number
- The amount you want to withdrawal
- Confirm that the details are correct
- Enter PIN then OK
Once the withdrawal process has started, all the other signatories receive a request on their Equitel lines. A message then appears in the form of a pop up in all the signatories Equitel phones.
This requires them to approve or reject the request. To do so they have to use their own secret PIN for withdrawal to be successful. When all the officials and the signatories have approved, a cash code is sent as a message to the Equitel line.
Hence this will enable the process to withdrawal form agent to be possible. Equitel mobile banking is very secure as there are no cases of frauds. In case one of the signatories’ losses ones phone, they can easily replace their Equitel lines in any of the Equity branch.
Equitel multiple approval enables the Equity bank account holders to manage shared savings. As a result, they avoid the long and tiresome meetings to sign the various documents involved in investment groups.
No one can initiate a withdrawal without the pin which is the signature. Equitel multiple approval is very convenient and fast. Furthermore, it is a secure way of doing Equity Bank transactions for the investment groups and the joint account holders.