By Dickens
Mobile money banking has made accessibility to banking services reachable to a large population of Kenyans. Withdrawals, deposits and opening a bank account can be done from authorized agents.
But what are the requirements for applying to become an Equity Bank agent in Kenya? This article lists for you all the requirements.
To become an Equity Agent, you need the following:
An existing business that has been operating successfully in the same location for a minimum of 12 months prior to application
Valid business permits for the existing business
A strategic business location – accessibility, visibility and security
A good reputation and high moral standing
An excellent reach and catchment area
Brief description of commercial activity- 12 months
Current statements for the last 6 months
Also Read: Equity Agent Withdrawal Charges, Paypal Charges And Other Transaction Fees
Agency Banking Documentation
Agency Banking application duly completed and signed by the applicant
National ID and copies for principal applicant(s)
A certificate of good conduct
A brief description of commercial activity for the past 12 months (business profile)
Bank and/or Loan statements from any other institution for the past 12 months
Three (3) copies of pre-signed Equity Agent Contract to accompany the application
Copy of certificate of incorporation or certificate of registration of business name as applicable
Articles and memorandum of association/Partnership deed where applicable
Board resolution (applicable to companies and partnerships)
Valid business licence or permit for any lawful commercial activity carried on by the entity
Audited financial records for the past 12 months
Sketch map for business and home location
Credit Reference Bureau report (CRB)
Two passport size photos for every applicant
Curriculum vitae (CV) of all the applicants
Three coloured photos of the business outlet showing:
(a) Interior view of premises from the door
(b) Interior view showing stocks
(c) Outside view – 15 metres from the door showing nearby premises
Services Offered By Equity Agents
An Equity Agent outlet. Equity Bank has over 40,000 agency outlets offering services such as account opening; cash deposits and withdrawals; NHIF registration; bill payment – KPLC, Water, DSTv; airtime; money transfer; third party payments to schools, rent etc