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ABC bank rally Saccos to get cheque books to ease banking

BUSINESS
By Patrick Vidija | December 9th 2021
By Patrick Vidija | December 9th 2021
BUSINESS

Bandari Sacco issued with cheque books.

 

The African Banking Corporation (ABC) bank has urged Saccos operating in various parts of the country to partner with them in a new deal that will see them get issued with Cheque books.

The move comes just days after the bank signed a deal with Bandari Sacco in Mombasa County which saw them get a number of cheque books with the aim of making financial flow easy.

Bandari Sacco and ABC Bank agreed to work together, with the members embracing the idea of using the cheque books to pay debts or make other payments.

In a statement, ABC Bank General Manager Peter Kinyanjui said that it will benefit over 15, 000 members of the Sacco.

“We are out to collaborate with our partners on financial solutions in order to achieve their goals plus attain our target of reaching more Saccos in the country,” Kinyanjui said.

According to the manager, the move will benefit members of the Sacco in a number of ways which include making payments and doing other financial settlements in any financial bank operating in the country.

“It will also assist members to make deposits drawn on any commercial bank in Kenya directly into their Bandari Sacco accounts. This cheque, clearing solution opens doors to other financial and business opportunities to Bandari Sacco members,” he said in the statement.

Such partnership usually links banks and their members access to the national payments system and this is a benefit to the economy.

“This move amplifies the board’s commitment to providing more relevant financial services to small and medium enterprises who are the key drivers of the economy,” said Kinyanjui. 

ABC bank joins other banks in such partnership with the aim of providing financial services to all its members.

It enters a list of the first banks in the country to agree to work with Saccos with the aim of ensuring that banking is made easier.

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