This is a paperless banking service offered through M-PESA that will;
• Enable you open and operate an M-Shwari bank account through your mobile phone, through M-PESA, without having to visit any bank to fill out bank account opening forms.
• It provides you the ability to move money in and out of your M-Shwari savings account to your M-PESA account at no charge.
• It gives you an opportunity to save as little as Ksh.1 and earn interest on your saving balance. This cash is moved into the savings account using your handset via the M-PESA Menu.
• Enable you access micro credit product (loan) of a minimum of Ksh.100 anytime and receive your loan instantly on your M-PESA account.

To get an M-Shwari account, you need to be:
• A registered Safaricom Subscriber.
• A registered Safaricom M-PESA customer.
• Have an active Safaricom M-PESA account/line.
• You need to hold any of the following identification documents; Kenya National Identification Document (ID); Kenyan Passport Document ; Alien ID (resident Permit) registered by the Government of Kenya.

• Go to the Safaricom menu
• Select  “ M-PESA”
• Select “Activate or Wezesha”
• The new M-PESA menu with M- Shwari menu will be sent to your line. Select the M-Shwari link.

A message will appear requesting you to read and accepted the Terms & Conditions ( English: Visit www.cbagroup.com/m-shwari www.safaricom.co.ke and Swahili: Tembelea www.cbagroup.com/m-shwari  www.safaricom.co.ke)

• After accepting the terms; an SMS will be sent informing you that you are now activated on the M-Shwari service.

No. Your M-PESA PIN is the same PIN that you will use for your M-Shwari account. Always remember PIN YAKO SIRI YAKO.

On the customer's M-PESA menu:-
• Select M-Shwari.
• Select show balance.
• Enter PIN.
• Wait for SMS confirmation with the message.
• Bank account Balance message for customers without an outstanding loan - {M-PESA Receipt Number} Confirmed. Your M-Shwari Deposit Accountbalance is Kshs***** on {TransactionDate:d} at {TransactionTime:t}.
• Bank account Balance message for customers with an outstanding loan- {M-PESA Receipt Number} Confirmed. Your M-Shwari Deposit Account balance is Kshs******. Your outstanding loan balance is Kshs**** on {TransactionDate:d} at {TransactionTime:t}

• There are no ledger fees, no limit on the frequency of withdrawals, no minimum operating balance and no charge on deposits (M-PESA to M-Shwari Account).
• The standard M-PESA limits apply; however you can deposit as low as ksh.1 in your M-Shwari savings account.

• Go to 'M-PESA' menu and select 'M-Shwari
• Select 'Withdraw from bank'
• Enter Amount
• Enter PIN
• Confirm these details then press OK
• Wait for a confirmation SMS message
• Sample message: X-HS580 Confirmed. You have transferred Ksh. XXXX from your M-Shwari account on DD/MM/YY at 00:00pm. M-Shwari account Balance is KshXXXX. M-PESA Balance is KshXXXX

The minimum amount that you can keep in your account is Ksh 0 (zero) balance.

You cannot move money from your M-Shwari account directly into another person's M-Shwari account. However, you can transfer money from your M-PESA into their M-PESA account.

No. Your account is only accessible through your mobile phone via the M-PESA menu on your Safaricom line.

The normal M-PESA limits apply.

No. You can transfer money from your M-Shwari account into M-PESA. Inter account bank transfers is not possible on the M-Shwari service.

Currently, you can get 5 recently completed transactions through your mini statement. You can also request printout statements from all Safaricom retail centers. You can also view the M-Shwari transactions from the M-PESA statement available on web self-care.

You can earn Bonga Points on M-PESA transactions; currently the M-Shwari service will not earn Bonga points, but this is being considered in the near future.

Deposit to M-Shwari Account

• Go to 'M-PESA' menu and select 'M-Shwari.
• Select 'Send to Bank.
• Enter PIN.
• Confirm the message displayed "send money to bank Kshs 2000" then press OK.

Sample message:

Confirmed. Ksh.XXXX transferred to M-Shwari account on DD/MM/ YY at 00.00pm. M-PESA Balance is KshXXXX, new M-Shwari account balance is KshXXXX.

Withdraw from M-Shwari Account

• Go to 'M-PESA' menu and select 'M-Shwari
• Select 'Withdraw from bank'
• Enter Amount
• Enter PIN
• Confirm these details then press OK
• Wait for a confirmation SMS message.

Sample message:

X-HS580 Confirmed. You have transferred Ksh. XXXX from your M-Shwari account on DD/MM/YY at 00:00pm. M-Shwari account Balance is KshXXXX. M-PESA Balance is KshXXXX'

You can move a minimum of Ksh.1 from your M-Shwari account into your M-PESA account.

You can send money to bank as savings as many times as possible at NO charge.

The minimum amount you can deposit is ksh.1 (one shilling).

You can withdraw as many times as you like at NO charge.

You will be able to transact on your M-PESA and M-Shwari account wherever you can roam and send/receive SMS to M-PESA. However, you will only be able to cash in/cash out your M-PESA balance at M-PESA Agents in Kenya.

Your money is safe because your M-Shwari account is protected by your M-PESA PIN. Replace your SIM card at any of our Safaricom Retail Centres or agent outlets. Once you activate your M-PESA menu, using your current M-PESA PIN you will be able to access your M-Shwari account.

You do not need to opt-in again, the system will automatically update your M-Shwari account and all the money in your account will be reflected as soon as you reactivate your M-PESA account using your current M-PESA PIN.

You will receive the full loan amount requested if you qualify. You will however be required to pay back Kshs 1,075 within 30 days because each loan attracts a 7.5% facilitation fee.

Yes, it is possible to activate more than one M-Shwari account. Each M-Shwari account is linked to a mobile number. However if you want another M-Shwari loan on another M-PESA line you will be required to first pay the outstanding loan on the M-PESA account from which you borrowed.

• The customers will earn interest paid on savings balances (Interest will be accrued/calculated daily but paid out quarterly).
• The product offering will have tiered savings amounts as below subject to KYC validation.

In order to qualify for a loan you will have to be an active M-PESA user for at least 6 months, save regularly on M-Shwari account and continuously use other Safaricom services such as Voice, DATA and M-PESA.

• From 'M-Shwari' menu, select 'LOAN'
• Select 'Request Loan'
• Enter Amount
• Enter PIN
• Confirm the message displayed for example "request loan Kshs 2000" then press OK.
• An initial SMS message will be sent immediately on confirmation of request for loan.
• A second SMS message is sent on successful or unsuccessful request.

• Please dial *234*6# you will get a notification asking you if you have read and accepted the terms and conditions.
• This will also give you information on whether you are eligible for a loan and the loan amount limit that will be awarded to you.

• From 'M-Shwari' menu, select 'LOAN'
• Select 'Pay Loan'
• Enter Amount
• Enter PIN
• Confirm the message displayed for example "pay loan Kshs 2000" then press OK.
• A SMS message is sent on successful or unsuccessful request.

The loan is payable within 30 days. However, you can repay the loan before the due date and borrow again. If you pay the loan in less than 30 days your loan limit qualification will increase.

The M-Shwari loan DOES NOT attract any interest. The 7.5% charged is a loan facilitation fee payable only once for each loan taken.

The loan amount is dependent on your loan amount limit, previous loan repayment behaviour and usage of other Safaricom services such as Voice, DATA and M-PESA.

• When you borrow the Ksh 2,000, the money in your savings account will be frozen to the loan amount and the loan fee (loan amount Ksh 2,000 loan plus a facilitation fee of Ksh 150).
• You will only be able to access any balance above the frozen amount. The frozen amount will be accessible once you pay the loan. However you can continue to deposit money. Note: During the period the frozen savings will continue to earn interest which will be paid into your M-Shwari at the end of calendar quarter.

For you to qualify for your initial loan you must deposit money in your savings. The amount you can borrow will depend on your usage of Safaricom Voice and DATA as well as your M-PESA usage.

No. You have to repay your outstanding loan first before you can borrow another loan.

You can send money to their M-PESA account and they can pay the loan.

Your loan repayment period will be extended for an additional 30 days and you will be charged an additional 7.5% facilitation fee on your outstanding loan balance.

The outstanding loan balance will be paid off and the extra amount will be moved to your M-Shwari savings account.

Yes, the 7.5% is a facilitation fee charged on the cost of processing the loan. Early repayment will increase your future loan limit qualification. Remember your loan limit is dependent on your previous loan repayment behaviour and usage of other Safaricom services such as Voice, DATA and M-PESA.

• In other banks, interest is calculated daily but paid out annually while M-Shwari interest is paid out quarterly.
• The daily average deposit balance will earn the customer interest even with the minimum balance amount.
• M-Shwari has competitive interest rates on savings, better that the other banks.

You need to write to the credit reference bureau that issued the report and inform them that the information contained in the report is disputed. The credit bureau is required to conduct an investigation within 21 days. During this time, the credit bureau will get in-touch with the institution that provided the information and require them to investigate and resolve the matter. Upon completion of the investigation and it is found that the information is either erroneous or incorrect, the credit reference bureau will rectify the information. If after 21 days the bureau is yet to complete the investigation, then it is required to delete such negative information from its records.