How to Open an M-shwari account.
M-Shwari is a paperless banking service offered through M-PESA. It will:
- Enable you to 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 microcredit 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.
To activate your new line:
- 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.