Diaspora Banking WORK GLOBALLY. BANK LOCALLY.

Transcription

1 Diaspora Banking WORK GLOBALLY. BANK LOCALLY.

2 Equity Centre, Equity Group Holdings Headquarters Thika Super Highway, one of the most advanced road network systems in East Africa

3 3 Table of Contents EQUITY BANK Diaspora Banking 3 1 Eazzy Banking Solutions Diaspora Self Service Portal EazzyNet Online Banking Eazzy Banking App EazzyChama Eazzy API 9 2. Diaspora Bank Accounts Diaspora Current Account Diaspora Eazzy Save Account Diaspora Business Account Diaspora Junior Member Account Diaspora Jijenge Account Fixed Deposit Account How to Open an Account Diaspora Self Service Portal the Application Forms Eazzy Banking App Debit Cards Credit Facilities Mortgage Loan Construction loan Plot Purchase Loan Equity Release Money Transfer Solutions Equity Direct PayPal Western Union MoneyGram Visa Direct SWIFT Insurance Services _ Equimed Diaspora Last Expense Cover Diaspora Return Ticket Insurance Custodial Services Equity Diaspora Agents 33

4 4 EQUITY BANK Equity Bank is one of East Africa s leading banks whose purpose is to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern, inclusive financial services that maximize their opportunities. The Bank has evolved to become an all inclusive bank, with over 11 million accounts which make over 50% of all bank accounts in Kenya making it the largest bank in customer base in the region. Equity Bank Kenya is a subsidiary of Equity Group Holdings which has banking subsidiaries in Uganda, South Sudan, Rwanda, Tanzania and DRC. The Group is listed at the Nairobi Securities Exchange, The Rwanda Stock Exchange (RSE) and Uganda Securities Exchange.

5 5 Diaspora Banking We offer a wide range of services to suit your banking needs while you are living and working abroad. At Equity Bank Diaspora Banking, you are guaranteed the following; Dedicated, qualified and professional staff A 24hr contact centre to handle your queries Quick resolution of queries World class service that is tailored to suit your unique needs 1) Eazzy Banking Solutions We have now made banking easier, more secure and convenient. You can now do your banking with a few clicks and taps. Experience convenience in life; 1.1 Diaspora self service portal Our self service portal enables you to access your account easily and also transact from your account anywhere any time. You can also access the following services: Banking services; Open an account Link your existing account for online banking Check your account balance Access EazzyNet -online banking that enables you to transact from your account Apply for loans Stocks Link your CDS account to your bank account Initiate buying and selling of stocks and shares Insurance Buy Insurance cover for you or your loved ones back home PayPal Link your PayPal account to your Equity Bank account Access PayPal withdrawal services Check PayPal account balance Equity Direct Send money from Europe to Kenya, Rwanda and Uganda Send service request To access the self service portal visit

6 EazzyNet-Online Banking EazzyNet is a secure online banking platform for individuals & retail customers.

7 7 EazzyNet gives you: Better Online Experience Our new look and improved features enhances your online banking experience, making it easier to navigate through the platform. Bank Anywhere, Any Time Transfer funds to accounts within Equity Bank, to other banks as well as international funds transfers via SWIFT. You can schedule recurring transactions and funds transfers i.e. initiate transactions to happen at a later date View and print account statements, request for full statements, bankers cheques and stop cheques Pay bills like Water, DSTV, Zuku, KPLC among others Airtime top up and funds transfer to other mobile wallets e.g. Equitel, Orange Money, Airtel Money and Mpesa. Robust Security We have introduced a two-factor authentication (log in and transaction authentication) to protect your banking transactions, which require a One-Time-Pin (OTP) to be sent to your mobile number as an SMS You can now reset your own password, eliminating the need to visit or contact your branch in order to do so No annual charges There is no annual fee on EazzyNet How to register Visit and log in Click on Banking services Click on EazzyNet-Online banking and follow the simple registration process.

8 Eazzy Banking App Eazzy Banking App is your Bank anywhere, anytime. Everything you do at the bank is now on Eazzy Banking App. From sending money to paying for goods and services, paying bills, checking the status of your account or saving for your future goals, it is all in your hands.

9 9 Who can use the Eazzy Banking App? The App is accessible to any Equity Bank customer What do I require to get the Eazzy Banking App? Visit our diaspora self service portal to open an account A smart phone Download the Eazzy Banking App Eazzy Banking

10 EazzyChama This is an online solution that allows Joint, Group or Chama account holders to manage their group activities like record keeping and banking transactions, while maintaining transparency and accessibility among all group members. This solution allows group members to; Monitor group transactions such as withdrawals, funds transfers and deposits that are performed on the chama s bank accounts through a single window dashboard Track personal transactions in the group; monthly contributions, chama lifetime contribution, penalties, their group statements and all other financials pertaining to each member Easily track activities It has a reminder management functionality Save time and work efficiently. No need for paper work To access Eazzychama, all you need is an Internet enabled device with a good Internet connection i.e. a computer or a mobile phone Link your Joint, Group or Chama account to EazzyChama Visit to sign up today

11 Eazzy API With Eazzy API, application developers, businesses, institutions and payment providers can now leverage the full capabilities of a digital bank. We have exposed the bank s capabilities in the form of APIs for direct integrations to your systems or customers with bank grade security at the heart of such implementations. These APIs include: Funds transfer (within and outside Equity) Airtime top up from any telco at a discount Pay bills, goods and services Instant Equity account opening and much more With Eazzy API, you can now open your business or application to a whole new online market segment, accept electronic payments and cut transactional costs to your business. For more information on Eazzy APIs visit

12 12 2) Diaspora Bank Accounts We offer you a convenient way to open an account and easily manage your finances while you are abroad. Our accounts are available in both Kenya shillings and Foreign currency Diaspora Current Account This account gives you the flexibility to perform your day to day transactions fast and efficiently. Features: No minimum balance required to open or operate the account Free monthly E-statements No monthly account maintenance fee No limit on the frequency of withdrawals You will be issued with a cheque book on request Access to debit card Convenient- One can access the account through our agents, EazzyNet-Online banking, Eazzy Banking App and the Diaspora Banking Portal

13 Diaspora Eazzy Save Account This account gives you a convenient and affordable way to manage your finances. Features: No account opening and minimum operating balance No Ledger fee One free withdrawal in a month Free internal standing orders Interest paid annually for savings above Kshs 20,000 Benefits: Easy to open Affordable- No account maintenance balance or monthly charges Convenient- One can access the account through our agents, EazzyNet-Online banking, Eazzy Banking App and the Diaspora Banking Portal Free E-statement Eligibility: Account can be opened by individual/joint persons Requirements: Copy of the National ID or valid Kenyan Passport Coloured passport size photo Proof of address document Filled in indemnity form 2.3. Diaspora Business Account This account enables a business owner to conveniently manage their finances while away from home. To find out more, kindly contact us through Kenyans.abroad@equitybank.co.ke

14 Diaspora Junior Member Account This account seeks to cultivate a savings culture in children while at the same time teaching them how to manage their finances. Parents can also save for their children s future through this account. Features: No account opening and minimum operating balance Free internal standing orders One free withdrawal in every three months (Quarterly) Interest paid quarterly for amounts above Kshs 10,000 Benefits: Affordable- No account maintenance balance or monthly charges Convenient- One can access the account through our agents, EazzyNet-Online banking, Eazzy Banking App and the Diaspora Banking Portal Free E-statements Account opening requirements: Parent s/ guardian copy of national ID or Passport Photocopy of child s birth certificate Proof of address document Coloured passport size photo Filled in indemnity form 14

15 Diaspora Jijenge Account This account allows you to save small fixed amounts to build a lump sum towards achieving your goals. It also allows you to earn interest on your savings. Features: Account opening balance of Kshs 300 Minimum monthly contribution of Ksh. 300 per month No partial withdrawal Minimum operating lock period is six months Benefits: Easy to open Convenient- One can access the account through our agents, EazzyNet-Online banking, Eazzy Banking App and the Diaspora Banking Portal Flexible- Determine your amount and saving period from six months onwards It encourages disciplined savings that can allow saving of small fixed amounts to build a lump sum Savings can be used as cash cover security for a loan Eligibility: Can be opened by individuals, joint or groups Requirements: Original and copy of National ID or valid Kenyan Passport Coloured passport size photo Proof of address document Filled in indemnity form

16 Fixed Deposit Account This account gives you an opportunity to invest a lump sum amount of money for a certain period of time and earn interest. Features: Allows immediate borrowing of up to 80% of money in the account The customer with an existing Fixed Deposit Account can use this to get a secure letter of credit The call account is for a flexible period of time and can be terminated upon your request The Fixed Deposit Account is opened for a predetermined period of time

17 17 3) How to Open an Account There are various ways a customer can open an account. These are; 3.1 Diaspora Self-Service Portal To open an account through the diaspora self-service portal follow the below simple steps; 1) Visit our website at 2) Click on self-service portal and log in 3) Under Banking services click on open new account 4) Select your preferred account 5) Fill the application form and submit 6) You will receive a notification of the status of your account Requirements A passport size photo A scanned copy of a Kenyan Identification card /Passport (first page, second page, last page and the renewal page if the passport has expired) A scanned utility bill or drivers license (for address verification) A signature card (to be downloaded from the portal, signed and scanned) Download a copy of an indemnity form from our website, fill, sign and send the original copies via post to the address below: Diaspora Banking. P.O. Box , Nairobi Kenya Note For persons residing in the United States of America, click the following link to access a W9 Form Fill, sign, scan and send it to kenyans.abroad@equitybank.co.ke The attachments above should have the following dimensions; 1) A width of at least 400mm 2) A height of at least 300mm. 3) Maximum size should be 2mb The Application Forms 1) Download the application forms from our website 2) Complete the form 3) Attach the documents listed in requirements above 4) Send the forms and supporting documents to kenyans.abroad@equitybank.co.ke 5] Send the original indemnity form via post to the address below: Diaspora Banking. P.O. Box , Nairobi. Kenya

18 Eazzy Banking App To open an account through the Eazzy Banking App follow the simple process below: 1) Download the Eazzy Banking App from Google Play store or Apple App Store 2) Launch the App and select the option I do not have an Equity Bank account 3) Enter your first name 4) Enter your last name 5) Enter your Kenyan ID number/passport Number 6) Enter your mobile number 7) Accept the terms and conditions 8) You will receive your account number and mobile banking PIN by SMS to the number provided in step 6 4) Debit Cards Access your funds 24/7 at any Visa or MasterCard branded ATM, shop at any location that has a Visa or Mastercard enabled point of sale and shop online at no extra cost. You can also use your card to shop online or at a Visa or MasterCard enabled point of sale at no extra charge. Take advantage of this safe and convenient service by applying for the Equity Visa or Equity MasterCard Debit card today. How do I apply for card? Go to our website at ke.equitybankgroup.com Click on downloads at the bottom of the page Go to electronic banking and select Card application form Fill the form Scan and it to your relationship officer or to kenyan.abroad@equitybank.co.ke

19 19 5) Credit Facilities Our credit facilities are available to all our customers living and working abroad. We will process your requests to completion while you are abroad Mortgage Loan This is a loan facility that enables you to borrow funds towards purchasing a building. The building can be for residential use or a commercial premise. Features Fast loan processing Flexible repayment terms Benefits The building is insured The building is capable of generating income via rental income Value added services such as negotiated legal fees, valuation services and competitive commitment and entry fees Investment advisory services Repayment period Home purchase - up to 15 years. Commercial property purchase - up to 10 years

20 Construction Loan This is a loan facility that enables you to access funding towards construction of residential and commercial buildings. Features: Fast loan processing Flexible repayment terms Benefits: Value added services such as insurance cover, negotiated legal fees, valuation services and competitive commitment and entry fees Investment advisory services Repayment period Home construction - up to 15 years Commercial property construction - up to 10 years

21 Plot Purchase Loan This is a loan facility that enables you to access funding towards purchase of undeveloped land. Features Fast loan processing Flexible repayment terms Benefits The loan is insured Repayment period Plot Purchase - up to 10 years

22 Equity Release This is a loan facility that enables you to borrow funds against an income generating property. The funds can be used for renovating a building, acquisition of a new property or completion of a construction. Features Fast loan processing Flexible repayment terms Benefits The property is insured Value added services such as negotiated legal fees, valuation services and competitive commitment and entry fees Investment advisory services Repayment period Equity Release products up to 10 years. Eligibility for Plot Purchase, Mortgage, Construction and Equity Release loans Any Equity Bank Diaspora customer who intends to invest in Kenya and has the ability to meet the expected repayment terms.

23 23 6) Money Transfer Solutions We have entered into partnerships to provide you with fast, effective, convenient and secure ways to transfer money to Kenya. Equity Direct is an online, real time, cross border, multi-currency service that enables the transfer of money from Europe into an Equity Bank account in Kenya, Uganda and Rwanda, any other Bank Account or mobile wallet in Kenya (Equitel, Orange, Money and M-PESA). Equity Direct is operated exclusively by Equity Bank in partnership with VFX Financial PLC UK.

24 24 Why should I use Equity Direct? Instant: Money is deposited into the beneficiary s account or mobile wallet in real time. Convenient: You can send money from Europe any time including weekends and public holidays. Choice: You can send money in world major currencies (USD, GBP and EUR). The receiver can receive in foreign currencies or in Kenya Shillings. Secure: The online transfers are secure. Affordable: It costs as little as 1 Euro. How do I send money using Equity Direct? Visit to register. You can also download the Equity Direct mobile App on your phone/ tablet register. How do I receive money using Equity Direct? Simply provide the sender with your account name and number and the money will be sent directly into your bank account or mobile wallet. *All transaction fees are paid by the sender at the time of sending the money.

25 25 The Equity Bank PayPal Withdraw service is a service that allows PayPal account holders to withdraw funds from their PayPal accounts into their qualifying Equity Bank account. The PayPal Withdraw service is exclusive in Kenya to Equity Bank customers. Why should I use PayPal? Safe You do not need to reveal your financial information online while transacting. Convenient You can conveniently withdraw funds from PayPal into your Equity Bank account. How do I use the Equity Bank PayPal Withdraw service? If you already have a PayPal account and you would like to withdraw money to your Equity Bank Account, visit

26 26 If you do not have a PayPal account, you will be required to: 1. Create a Kenyan PayPal account: Visit and follow the simple process to open an account. Select your country as Kenya. 2. Verify your PayPal account You will need a debit card or credit card to verify your PayPal account. Log into your PayPal account and click on Get Verified and follow the simple process to verify the account. 3. Link your PayPal account to your Equity Bank Account? i. With your portal user name and password, log into the site. If you are new, click on register and follow the process of registration (the registration process is a one-time process) ii. On the menu click Banking Services iii. Enter your nominated bank account and click Link Account iv. A One Time Pin (OTP) will be sent to the official cell phone number maintained by Equity Bank for the nominated account v. Enter the OTP and click Confirm OTP vi. Click on the PayPal Tab and link your PayPal Account to your Equity Bank Account You can then do business online, get paid via PayPal and access your money through your Equity Bank account

27 27 Western Union Money Transfer enables you to send and receive money globally. Why should I use Western Union? It is a fast, safe, easy, reliable and convenient way to send or receive money in minutes around the world. How do I send money using Western Union? Four simple steps to make sure your money gets where it s needed: 1. Bring some identification to a Western Union Agent, e.g., a passport and fill in a short simple form. 2. Pay the amount of money you want to send plus the Western Union service fee. 3. You will be given a Western Union reference number. 4. Contact the person receiving the money and give them this number.

28 28 What is the receiver required to have to receive money via Western Union? a) Receiving through the Branch or Agent 1. Request for the money transfer reference number from the sender. 2. Visit an Equity Bank agent with the acceptable identification. 3. Provide the reference number and complete a simple form. 4. Issued with the money in local currency. b) Account Based Money Transfer Service (ABMT) This service enables receivers to receive funds sent through Western Union directly into their accounts. The receiver will be required to visit the nearest Equity Bank ATM and select Western Union and follow the simple process. The money will be credited into their account and receipt issued.

29 29 MoneyGram is a person-to-person money transfer service that allows consumers to send or receive money around the world in minutes. Why should you use MoneyGram? It is a fast, safe, easy, reliable and convenient way to send or receive money in minutes around the world. How do I send money using MoneyGram? Four simple steps to make sure your money gets where it s needed: 1. Visit a MoneyGram agent with some identification, e.g., a passport and fill in a short simple form. 2. Pay the amount of money you want to send plus the MoneyGram service fee. 3. You will be given a MoneyGram reference number. 4. Contact the person receiving the money and give them this number. What does the receiver require to have to receive money via MoneyGram? 1. Request the money transfer reference number from the sender. 2. Visit an Equity Bank branch with the acceptable identification. 3. Provide the reference number and complete a simple form. 4. Issued with the money in local currency

30 30 Visa Direct is a cost effective, fast, convenient and secure way of transferring money. Equity Bank Visa cardholders can now receive funds domestically and internationally from any Visa sending partners worldwide. Why should you use Visa Direct? It is a fast, safe, easy, reliable and convenient way to send or receive money. Money sent through Visa Direct is credited into the recipient account. How do I send money using Visa Direct? Visit our website through to see the banks that allow Visa direct transfers What does the receiver require to have to receive money via Visa Direct? Provide the sender with the16-digit Equity Visa card number on the front of your Visa card. Funds will be made available in your account as soon as you complete the transaction. Swift Transfer is service that enables you to transfer money from your bank account abroad directly to your account or any account at Equity Bank. Note: CBK has set strict guidelines to safeguard against money laundering or terrorism financing which mandate us as a foreign exchange dealer to obtain and retain appropriate documents for all transactions above the equivalent of US $ 10,000.

31 31 7) Insurance Services We offer you various Insurance products and services for you and your loved ones in Kenya. This includes: 7.1. Equimed This is a comprehensive inpatient and outpatient medical insurance package offered to individuals, families, groups and SMEs. The cover is reliable, affordable and flexible to suit your needs. Product features Kidney dialysis, cancer, HIV/AIDS and related conditions/arvs are covered in full under outpatient and highest sublimit under inpatient cover Pre-existing, chronic, congenital conditions covered in full under outpatient and highest sublimit under inpatient cover Accidental cases are covered in full under inpatient or outpatient limit Dental, Optical, Post hospitalization and Maternity are covered under various sub limits depending on the choice of option limit Lodger fees for children aged 7 years and below.

32 32 Home nursing under doctor s recommendation under inpatient cover. Alternative medicine (acupuncture, chiropractor, homeopathy, herbal medicine) if referred by a General Practitioner Treatment abroad on scheduled flights both in India and South Africa for treatment not available locally. Treatment is on reimbursement basis. Flexibility to see your own doctor on reimbursement. Access specialist in the panel directly without being referred by a general practitioner. Benefits Maximum joining age limit of 74 years renewable up to 75yrs Access a wide Panel of service providers. Access to a Biometric cards for easy benefit management and convenience No medical examination/report required. A strong medical team available to advice on any medical issues at any time. No waiting periods for the outpatient benefit Country wide Equity Bank Branch network support. Waiting peroids No waiting peroids for accident cases 120 days for non-accident surgery, Gynecological and ENT surgery. 6 months for disclosed pre-existing, chronic, congenital and HIV/AIDS & related conditions. 2 months for Maternity related conditions. 12 months for cancer related conditions The above waiting peroids will also apply to new dependants being added to the scheme.

33 Diaspora Last Expense Cover This is an insurance cover that caters for the last expense to ensure that Kenyans living in the Diaspora return home and receive a dignified funeral in the unfortunate event of death. Product features A death benefit is payable to the beneficiary to provide cover for: 1) Transportation 2) Funeral expenses 3) Unforeseen expenses The cover commences immediately in the event of accidental death. There is an initial 6 month waiting period for death as a result of natural causes. Minimum joining age is 18 years old; Maximum age on cover is 60 years old Exclusions: Self-inflicted death, alcohol and substance abuse, involvement in illegal activities. 7.3 Diaspora Return Ticket Insurance This is an insurance cover that enables people living abroad travel back home in the event of the unfortunate death of a declared next of kin. Product Features The sum assured provided can be used to purchase a travel ticket and for contributions towards the funeral expense for the departed. The cover provides a shared cover in case of the death of either of parents, spouse, children or siblings who live in Kenya. The amount is payable once on the first demise of any of the above dependents during the insurance period. For additional Insurance products such as:motor Insurance for your vehicles back home or those of your loved ones, property insurance for your investments back home and marine insurance cover for your goods on transit, kindly visit our Equity Insurance Agency website for more information

34 34 8) Custodial Services Open a custody investment account and get guidance on how to invest in Shares,Treasury Bills, Bonds an other securities. Enjoy the following benefits: One stop solution for every investment need Timely collection of dividends, interest, bonuses and rights Regular investment valuation reports How to open a CDS account Visit Click on stocks and follow the simple process

35 35 9) Equity Diaspora Agents We have agents in various countries all over the world. A list of these agents can be accessed under the Quick links section on our website via the following link; We work with our agents to offer the following services; Account origination Loan origination Money transfers Marketing of Bank financed real estate investment projects Marketing activities General inquiries

36 36 Notes

37 37 Notes

38 38 Notes

39 Celebrating Achievements for the Year Thank you for believing in us Equity Bank Ranked: Fastest Growing Large Bank in Africa No. 34 Globally on Profits on Capital No. 8 Globally on Return on Assets No. 43 Globally on Soundness/ Stability (Capital Assets Ratio) (Equity Bank) Africa s Best Bank Kenya s Best Bank Africa s Best Bank for SMEs 2016 Equity Bank AA Credit Rating (very high credit quality) Most Innovative Bank (Equity Bank) Best Mobile Banking Service Most Innovative Bank 1st Runners Up (Equity Bank) Financial Reporting Standards 2016 Catalyst Awards 2016 Bank (Equity Bank) Case Study on Bank Operations - 3rd place Best Practice in Sustainable Finance - 3rd place Equity Investment Bank/Exotix Partners Best Performing Broker in Africa Multiple Award Winner at the 2016 Think Business Awards (Equity Bank) Sustainable Social Impact Investments Overall Best Bank in Kenya (4yrs running) Winner Best Bank Tier 1 (4 yrs running) Best Bank in Agency Banking (2yrs running) Best Bank in Micro-Finance (2 yrs running) Best Bank in Retail Banking (2 yrs running) Best Bank in SME Banking (2yrs running) Best Bank in Product Marketing 1st Runner Up Best Bank in Mortgage Finance 1st Runners Up Best Bank in Internet Banking 1st Runner Up Best Bank in Asset Finance 1st Runners Up Best Bank in Customer Satisfaction 1st Runners Up Best Bank in Mobile Banking 2nd Runners Up Fastest Growing Bank 2nd Runners Up EDUCATION AND LEADERSHIP DEVELOPMENT FINANCIAL INCLUSION AND LITERACY Fanikisha Knowledge for Africa for Women and Youth (FIKA) 2016 AGRICULTURE 12,488 3, 405 Total Wings to Fly Scholars 1.4 Mn youth and women completed financial literacy education 500,000 small scale farmers supported University Scholars KSh 5 Bn in savings circulation 329 Scholars/ Alumni attending global universities Over KSh. 32 Bn to women KSh. 18 Bn to youth in Loans disbursed KSh 6.3 Bn in agribusiness loans disbursed ENTREPRENEURSHIP ENVIRONMENT HEALTH Over 25,836 MSMEs trained Over 14,000 18,281 cumulative MSEs trained Kenyans reached with renewable energy products 1.8 Million people enrolled in affordable and comprehensive health insurance Equity Bank Consistent Growth in: Network Infrustracture: Customers 11 Million Deposits Ksh Billion Loans Ksh Billion Total Assets Ksh.468 Billion Shareholders Funds Ksh.81.6 Billion Regional Presence 6 countries Branches 267 ATMs 686 Agents 28,743 Eazzy Pay Merchants 21,077 Merchants 9,320 We are honored by the trust of our 11 million customers and by the recognition and accolades from various local and international institutions who measure excellence in banking performance. We shall endeavour to continue championing the socio-economic transformation of the people of Africa. Tel: KeEquitybank Equity Bank (Kenya) Limited is regulated by Central Bank of Kenya

40 Diaspora Banking, Global Center, 4th Floor, Argwings Kodhek Road, opposite Yaya Centre P.O. Box Nairobi, Kenya. Tel , ;