Equity Bank agent application. How to become an Equity bank agent and the commission you will earn
Applying and becoming an Equity Bank agent can be the best deal as you stand to earn a commission on every transaction you make. Have you ever asked yourself, how much commission do equity agents earn per transaction?
Well the answer to that question depends on the amount being transacted. Equity agents earn a commission on every deposit or withdrawal transactions they make.
Equity Bank agent application. How to become an Equity bank agent and the commission you will earn
Requirements of becoming an Equity bank Agent
- An existing business that has been operating successfully in the same location for a minimum of 12 months prior to application.
- Valid business permits for the existing business
- A strategic business location – accessibility, visibility and security
- A good reputation and high moral standing
- An excellent reach and catchment area
- Brief description of commercial activity- 12 months
- Current statements for the last 6 months
How Much Commission Do M-Pesa Agents Earn Per Transaction? All You Need To Know
An Equity Bank Agent offers the full range of financial services found at an Equity Bank branch in the community.
- Cash deposits
- Cash withdrawals
- School fees payments
- Rent payments
- Bill payments
- Funds transfer
- Balance inquiries
- Mini statement requests
- Account opening
- NHIF, NSSF and KRA payments
Equity Bank Agent Commission
Equiuty Bank Agent Commission On Deposit
| Deposit amount | Commission |
|---|---|
| Ksh 100 to 5,000 | 10 |
| Ksh 5,001 to 10,000 | 15 |
| Ksh 10,001 to 20,000 | 20 |
| Ksh 20,001 and above | 30 |
As an equity bank agent, you will also earn a commission on every withdrawal transaction you make
| Amount | Agent Commission |
|---|---|
| Ksh100 to 2500 | 15 |
| Ksh 2,501 to 5,000 | 25 |
| Ksh 5,001 to 10,000 | 35 |
| Ksh 10,001 to 20,000 | 60 |
| Ksh 20,001 to 35,000 | 70 |
| Ksh 35,001 to 50,000 | 90 |
| Ksh 50,001 and above | 120 |
Other Services offered by equity bank agents
Apart from withdrawals and deposits, the agent also earns commission on:-
- Account Opening = Ksh 100
- Eazzy 24/7 = Ksh 30
- Account Reactivation = Ksh 50
- Beba = Ksh 50
- E hapo hapo = Ksh 50.
Required application documents
Before you can apply and become an Equity agent, there are various documents one must have. Below are some of the documents you will need to have
- Agency Banking application duly completed and signed by the applicant
- National ID and copies for the principal applicant(s)
- A certificate of good conduct
- A brief description of the commercial activity for the past 12 months (business profile)
- Copy of certificate of incorporation or certificate of registration of the business name as applicable
- Bank and/or Loan statements from any other institution for the past 12 months
- Three (3) copies of pre-signed Equity Agent Contract to accompany the application
- Articles and memorandum of association/Partnership deed where applicable
- Sketch map for business and home location
- Board resolution (applicable to companies and partnerships)
- Valid business license or permit for any lawful commercial activity carried on by the entity
- Audited financial records for the past 12 months
- Credit Reference Bureau report (CRB)
- Two passport size photos for every applicant
- Curriculum vitae (CV) of all the applicants
- Three colored photos of the business outlet
As an Equity agent, you stand a chance to make good money every month. If your business is located in a busy area, then you will sail through easily.
Equity agency banking can as well be incorporated with other services such as, Mpesa, KCB Mtaani, Co-op Kwa Jirani and so on.
Also Read:How To get An Aggregated M-pesa Line And Become An M-Pesa Agent
