“Co-op Bank Breaks the Mold: Boosts ATM Withdrawal Limits by 50% to KES 60,000, Surpassing Local Giants in Response to Shifting Economic Realities.”
In a strategic move to align with changing customer spending patterns, Co-operative Bank of Kenya (Co-op Bank) has raised its daily ATM withdrawal limit by 50% to KES 60,000. This significant increase brings Co-op Bank ahead of local banking giants like Kenya Commercial Bank (KCB) and Equity Bank, which currently maintain a daily withdrawal limit of KES 50,000.
With approximately 600 ATMs nationwide, Co-op Bank customers can now access higher withdrawal limits, eliminating the need to visit banking halls for transactions below KES 60,000. The decision reflects a proactive response to the economic landscape, where the Kenyan shilling has faced continuous depreciation over the past two years. Co-op Bank’s adjustment mirrors similar moves by mobile money platforms, including Airtel Money and Mpesa, which raised their daily transaction limits to KES 500,000 and per transaction limit to KES 250,000 after approval from the Central Bank of Kenya last year.”
