Mobile and bank deposits and withdrawals have become part of day to day life of almost every Kenyan.
People always depositing money into their M-PESA, Airtel Money, Telkom T-Kash, Equity bank, Co-operative bank, and KCB accounts, among other mobile wallets.
In equal measure, others are always withdrawing money they just received into those accounts.
Does that in any way sound as if mobile and bank money deposits and withdrawals are vanishing anytime soon?
Definitely not!
The interesting bit of it all is that those money deposits and withdrawals are done via Mobile Money and Banking agencies who carry out such transactions every day.
An agent comes in the gap to provide the medium for depositing and withdrawing money and in return, they earn commissions for both services.
Now that you know that an agent will earn commissions to mediate deposits and withdrawals concerning Mobile and Bank Money, can’t you be that agent and tap in on those awesome commissions on the Mobile Money and Banking Agency business?
Interestingly, the banking agency business is one of the profitable businesses in Kenya.
You can locate your Mobile Money and Bank Agent business along a busy street or a strategic corner where people are always passing by and can clearly see from afar.
That way, you will attract passersby and people from far away all alike.
Equity Bank has one of the best agency banking services. Requirements to become an agent are provided for anyone intending to become an agent. One advantage of becoming an agent of Equity is that there are ready customers who will flock into your business for deposits and withdrawals. In addition, the commissions paid to agents are decent.
KCB Agents earn commissions. The commission structures are determined by the amount of money a customer withdraws or deposits via his account.
M-Pesa business is one of the profitable small capital businesses in Kenya. In a good month, you can make as much as Ksh.30,000 to Ksh.50,000 or more depending on location and traffic flow. These statistics, coupled with the immense profits generated from M-Pesa tells how a lucrative business opportunity M-Pesa is.
According to Safaricom M-pesa Commission Rates/Charges For 2020, the minimum amount of commission an agent can earn is Ksh.4 after transacting Ksh.50 to Ksh.100. The highest amount of commission, on the other hand, from a single transaction, is Ksh.190
Just imagine having 10 withdraws and 6 deposits totaling to 16 transactions a day each and each transaction carries a minimum of Ksh 100 that is Ksh 1600 a day which is not a bad deal for a day so you can start one today and enjoy your profits
*Written By*: Justine Nyachieo
Business Man & Mentor
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