The Kenya Post Office Savings Bank (Postbank) was established in 1910 regulated by the Kenya Post Office Savings Bank Act Cap 493B.Similar Savings services were offered across the East Africa region. When the East African Community broke up in 1977, the Kenya Government established its own savings bank.
Postbank is primarily engaged in the mobilization of savings for national development. The Bank is wholly owned by the Government of Kenya and reports to the Ministry of Finance. The Government is represented at the board of directors by the Permanent Secretary, Treasury.
Governance of the bank is vested in the Board of directors and the office of the Managing Director, supported by Directorates and departments. Postbank is committed to the standards of corporate governance as set by the government and the Central Bank of Kenya for the public sector.
The Board of Directors is responsible for the long term strategic direction for profitable growth for the bank while being accountable to the shareholder for ensuring that Postbank complies with the law and the highest standards of corporate governance and business ethics. The Kenya Post Office Savings Bank’s registered headquarters is at Postbank House, Banda Street, Nairobi Kenya
How to open a Post Bank M-sawa account Via M-pesa.
- Go to M-PESA menu
- Select the Lipa na M- PESA option
- Select Pay Bill
- Enter the business number as 200999
- Enter the account number
- Enter the letters ID followed by your National identification number eg ID12645678 without any spaces.
- Enter the amount of money that you wish to transfer from your M-PESA account to your Postbank account.
- The minimum is Kshs 10
- Enter your M-PESA PIN.
- You will receive an M-PESA message to confirm that money has been sent to Postbank.
- Once your identification details are verified you will receive an SMS from Postbank confirming your account number and PIN number.