Top 5 Most Pay Slip Friendly Pay Points For Teachers and Other Civil servants
Teachers, in all cases, earn through banks and SACCOS. In our country, there are several banks and SACCOS, from which a civil servants can choose a pay point. Choice of pay point depends on a number of factors that are not limited to:
- Earlier payments
- Ease of withdrawal
- Easy accessibility to salary advance at cheaper interest rates.
- Proximity to areas of residence
- Satisfactory services by the staff
- Timely Notifications whenever salary lands on the accounts.
With all those factors in mind and from thorough analysis of various pay points, elimupedia staff sampled five of the best pay points that teachers should try.
1. Equity Bank Limited
Equity bank is usually among the first two pay points to deposit money into members’ accounts. Immediately equity receives payroll from employers, it deposits money into accounts, irrespective of day and time of the week. As early as 22nd, members of equity bank have always earned and spent their money. This saves them the agony of surviving up to end month.
Equity has the easiest means by which clients can withdraw their cash. Each equity client is entitled to an equitel line that they can use to transfer money to their MPESA accounts. Those without equitel lines can register for mobile banking services and transact from their accounts using USSD code *247#.
Members can also install equity bank app from play store and use it to access their accounts.
Equity bank gives members salary advance at an interest rate of 1.125 per month.
Read also: How to change your TSC Pay Point
2. Kenya commercial bank (KCB)
KCB also does quite well when it comes to paying salaries. It does not wait till end month to pay members their dues.
KCB members can also operate their bank accounts any where any time, so long as they have mobile phones and an active MPESA account. Sending money from your KCB account to MPESA is absolutely free.
KCB also offers salary advance at reasonable interest rates.
3. Kenya Women Finance Trust (KWFT)
When it comes to timely payment of salaries, KWFT is always among the first banks to pay salaries. It may not be known widely but the few members associated with it praise it for its better services.
4. Co-Operative Bank
Cop bank is also a good bank when it comes to timely payment of salaries. It has an app that members can use to access their accounts and to check account balances.
Read also: Top 10 Banks with Most Affordable Interest rates on SME and Other Loans
With USSD, *667#, members can withdraw money at any time without spending so much.
5. Mwalimu SACCO
Members of this pay point are mostly teachers. Though Mwalimu SACCO delays to pay teachers salaries, it is among the better pay point options for teachers. The fact that it reminds teachers once money is deposited in their accounts earns it a score.
It has an app and a USSD, though it is among the pay points that charge most expensively for mobile banking transactions. Mwalimu SACCO charges ksh. 14 to check account balance and ksh. 70 to withdraw any amount less than ksh. 70,000.
