I never thought it would be easy.
My plan was to suggest to the employees in our house that they open a bank account, then I could pay their salaries directly to each individual. It's also time for a pay rise, so I would welcome not having to make covert trips to the bank to withdraw fistfuls of 1,000 shilling notes.
In spite of my initial fears, on making preliminary enquiries, I was pleasantly surprised.
'Oh, Equity, I have one of those accounts, no problem.' One said.
Another, 'I opened an account some time ago, I just need to go to Westlands to collect the card.'
'I have a Postbank account, will that do?'
This is what normally happens. I throw out what I think might be a complex task for others to complete, then find it immediately flips back onto me to make the next move. Hang on a minute, I thought, just how do I get these salaries paid into these various accounts when from month-to-month, depending on personal loans taken for trips home/funerals etc, the amount I pay out is always different.
One lady (the one who used to keep cash in her room on our plot - that is, until recently when it got stolen by the night watchman) had to go off work early to visit Postbank (banking hours 9am to 4pm) where she found she does indeed have an account, though they do charge an annual fee of around 450 shillings. This was fine.
The second lady wanted a lift to Westlands so that she could pick up her Equity card. I thought I'd swing by on a round trip via school this afternoon but I tell you, today the traffic was terrible! On arrival at the Westlands Branch, she was unsurprisingly informed that her card (which apparently had been waiting for her since last August) had been sent back to the hidden depths that is HQ. As far as I understand it, she now has to apply for a new card.
It seems that launching ourselves into the 21st (even 20th!) century here in Nairobi is, like everything, going to take time and patience. I think I might just risk it and do cash again this month.....
The diary of a British expat living in Kenya. News, views, debate and a healthy dose of trivia.
Hey there -- this is Matt, I recommended looking at Equity (especially since I work there) last post. :)
ReplyDeleteWe use our mobile (yes mobile phone!) to pay directly into Equity accounts... so that is very convenient as far as transferring the money, no matter if there are adjustments that need to be made (for loans, advances, etc).
Happy to discuss more if any questions!
Also, not sure why she needs a card...? It is good if she wants to be able to go to an ATM... but she can also withdraw cash from an agent which are popping up all over the place. :)
Is there any chance that they would be willing to all get accounts with the same bank? Then you just have to make one trip and one deposit each month.
ReplyDeleteHi Matt, Thanks for your patience! Just to clarify, where are your Equity agents located, or do you use the MPesa system?
ReplyDeleteso why not just mpesa them their salaries? and then they can deal with whatever bank they prefer without involving you at all.
ReplyDeleteI thought about Mpesa, our neighbour does salaries this way. But when I mentioned it to one of our staff, they said that there was a small charge each time you withdraw, relative to the amount cashed.
ReplyDeleteequity bank has m-kesho, where you send money to an account: in this case for an employee and then they can access it in their fones like the mpesa money in your phone for free. they have to go to the bank and rgister for mkesho, its free. mkesho is a savings account so will earn you and them interest for any deposit starting from one bob. swing by equity and inquire its very easy, safe, fast and amazing.
ReplyDeletegoogle wants to start mobile money too. will safaricom survive the impending onslaught? i dont know but im gearing my self for slashed down prices again. im rubbing my hands in glee!
peculiar kenyan.
hi
ReplyDeletejust stumbled across your blog trying to find some information on kenya. What a great job you are doing!
We shall be moving to nairobi by august this year. Can one do any horse riding in the city?? My son and husband are keen riders.
we were told by braeburn school we should get places - is it ok or shud we try for hillcrest or brookhouse or st andrews. My kids are still in primary.
I have been an expat for about 15 years (we are originally from india but british citizens). kenya is going for be our last - we decided this is it. our son will move into secondary in three years and i think thats the time to call it quits.
look forward to hearing from you! luv, G
I think Mpesa would work well for you. You can check the withdrawal rates on the Safaricom website. It could work as a halfway bank account for now.
ReplyDeletefor mpesa, i think charges are like 25/= for small withdrawals - under 2500/=, it does increase with the amount they are withdrawing - i think it's 75/= for 10k, but still is quite cheap compared to the transaction and other fees you'll pay with most bank accounts..
ReplyDeleteThanks for the Mpesa tips! I think that is definitely the way forward.
ReplyDeleteGargi Habib - Braeburn and Brookhouse are both excellent schools. Braeburn more focus on sports, Brookhouse more on theatre/drama/art etc.
Riding is mostly done extracurricular and many riding schools are based around Karen.
Look at websites for other Nairobi schools, ISK, Banda, Kenton, Hillcrest and Peponi Primary too.
For more info on schools, look at the Africa expat forum (you will find link on the blog title page, just click through - follow moving to Kenya topic).
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hey thanks a lot for your answer - i checked out banda and hillcrest. nice schools unfort not going to work for my son who is borderline aspergers.I think they feel he might go into a tizzy and start hitting his head on the wall - however he is only mildly on the asperger's spectrum... anyway brookhouse and braeburn are willing to work with my son. so i might go with brookhouse actually even the whole building thing leaves me a bit cold... maybe i saw it on a wrong day, another day i might love it... thanks a lot gargi
ReplyDelete