Equity Bank stands as one of the most profitable and prominent banks in Kenya and partnering with them as an agent can be a good move to earn an income at the end of the month. In this article, we focus on how to become an Equity Bank Agent, the Requirements, and the Commissions that you earn after making transactions.
Equity bank has opened its doors to all dedicated traders who are ready for a partnership in bringing the banking services closer to the people. As an agent every transaction you make counts and you’ll be paid through commission which is normally paid at the end of the month.
However, for you to be awarded the agent role you need to have a physical business address that has been operating legally under the Kenyan Law for a period of at least one year. The best part as an agent is that the bank doesn’t limit you, you can also serve as an agent for other banks.
In addition, numerous documents are required while applying for the job. Below we highlight all the necessary requirements along with the amount of commission you’ll earn for every transaction you make.
Equity Bank Agent Requirements
- Have original and copies of the National ID card
- Acquire a Certificate of good conduct
- The physical business address also is also a must-have, the business should be operational for at least a year
- Also, have a valid business permit
- You should also indicate clearly where your business is located
- Have a CRB certificate of clearance
- Bank statement for the last 6 months
- Also business financial statement for the last 12 months
- Attach two passport photos and your curriculum vitae (CV)
Once you have provided all the necessary requirements, you will be given an Equity bank form to fill in all your details. In the same form you’ll be provided with terms and conditions of being an agent, please ensure you go through the terms and conditions before signing and submitting the form.
Equity Bank Agent Commission
Once you are approved by the bank, you’ll be given the go-ahead signal to brand your business with an Equity Agent theme. In addition, you will also be given the Agent record book as well as the transaction machine. On top of that, you also be given a short training on how you’ll be handling transactions to avoid being coned.
As an agent some of the services that you’ll be offering include, cash withdrawal, deposit, fee payment as well as other bill payments. Here is the amount of commission you’ll earn for each transaction.
Withdrawal Commission
Transaction Amount (KSH) Commission Earned (Ksh)
1. 100 to 2500 15
2. 2,501 to 5,000 25
3. 5,001 to 10,000 35
4. 10,001 to 20,000 60
5. 20,001 to 35,000 70
6. 35,001 to 50,000 90
7. 50,001 and above 120
Deposit Commission
Transaction Amount (Ksh) Commission Earned
1. 100 to 5,000 10
2. 5,001 to 10,000 15
3. 10,001 to 20,000 20
4. 20,001 and above 30
This shows the more you transact the more you earn, meaning your monthly salary will be determined by the number of transactions you’ll have made.