Sending Money from MPesa to CBA Loop
Loop is a digital banking service (read debit card) that helps you manage your money better anytime, anywhere. Here at Tech Magazine we’ve been using Loop to make all sorts of purchases online (and swiping it at Java) right after NationHela went under.
With Loop, you can make payments to mobile money or to a bank account. Loop also allows you track and analyze your spending patterns. In general it’s much more stable and reliable than NationHela.
So here’s a step by step guide on how to send money from MPesa to CBA Loop
1) Open the M-Pesa app or SIM Toolkit
2) Choose “Lipa na M-Pesa” option
3) Select “Paybill”
4) Choose “Enter business no.”
5) Enter 714777 as the business number
6) Press “OK”
7) Enter your CBA Loop mobile number as the Account Number (or the CBA Loop account number that you’d like to top up).
8) Input the amount you want to deposit to the account.
9) Enter your M-Pesa PIN and press “Ok”
10) Confirm the transaction details and press “Ok”
If the transaction is successful, you’ll receive a text message from both M-Pesa and CBA Loop confirming the transaction.
You can load money to your Loop account through these other methods:
1) Get another Loop user to send you money from their account to your loop account free of charge.
2) Transfer from any other bank directly into your Loop Account via Pesalink, EFT or RTGS.
3) Make a Cash Deposit at any CBA Branch.
How to open a CBA Loop account
If you’d like to find out how, check out this video below: