BUSINESS

Co-operative Bank of Kenya Raises Daily ATM Withdrawal Limit to Ksh60,000 in Response to Economic Conditions

This adjustment marks an enhancement from the previous daily withdrawal limit of Ksh40,000.

Co-operative Bank of Kenya has implemented a significant change, allowing its customers to withdraw up to Ksh60,000 per day from Automated Teller Machines (ATMs) nationwide, following a recent review.

In a statement to its clientele, the bank explained that the decision to increase the withdrawal limit was influenced by the prevailing economic conditions and the imperative to meet customers’ evolving needs.

This adjustment marks an enhancement from the previous daily withdrawal limit of Ksh40,000.

The bank’s statement read, “Dear client, for your convenience, we have increased the total amount of money you can withdraw on our ATMs from Sh40,000 to Sh60,000 per day.”

This development proves advantageous for Kenyans engaged in significant financial transactions, including business operations and bill payments. Moreover, it offers greater convenience for the millions of Co-operative Bank customers, eliminating the necessity to queue at the bank for withdrawals ranging between Ksh40,000 and Ksh60,000.

The last revision to ATM withdrawal limits was undertaken in February 2015 when customers were restricted to a maximum daily withdrawal of Ksh20,000. At that time, the bank justified the move by emphasizing the efficiency gained in reducing customer numbers within branches, thereby enabling staff to provide more personalized attention, particularly for those seeking financial advice.

Co-operative Bank of Kenya currently operates a network of over 608 ATMs throughout the country, serving a customer base exceeding 9 million account holders who access banking services across its extensive network of over 100 branches nationwide.

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Abdul

Abdul is a journalist by profession having graduated from St.Paul University.

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