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This is a pay as you go current account for businesses, that allows your business to only pay for the service used. Pay for what you need when you need it.

Why choose the Baraka Collection Account

No minimum opening balance is required to open the account

No minimum operating balance is needed to keep the account running

Carry out seamless branchless banking through ATMs, POS and mobile, online and agency banking

Send cash through multiple money transfer channels: Telegraphic Transfers (TTs), RTGS, MoneyGram, Transfast, Zoom, Mukuru and Xpress Money

Eligibility / Documents Required

  • Original and copy of certificate of Incorporation/Certificate of Registration.
  • Compliance Certificate issued by Registrar of Companies (for companies incorporated outside of Kenya)
  • Original and copy of the Memorandum & Articles of Association (CR1, CR2, CR8)
  • CR 12 (valid for 90 days ) or annual returns
  • Most recently audited financial statements
  • Duly signed and sealed Board of Directors’ Resolution to open an account, signatories & signing mandate
  • Company & Directors’ KRA PIN certificates
  • Copy of original National ID/Passport of directors & signatories
  • Passport size colored photos of director and account signatories.
  • Valid business permit
  • License from a governing body (e.g. mining, IRA, SASRA etc.)
  • Fully completed and signed Foreign Account Tax Compliance Act & Common Reporting Standard certification forms for Kenyans residing abroad
  • Additional documents may be required as per the nature of the institutions. 

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Rates & Fees

  • Corporate Debit Card issuance/replacement fee - Kes. 500
  • Standing order - Kes. 300
  • Banker’s cheque - Kes. 400
  • Counter withdrawal fee - Kes. 200

** All fees and charges are subject to 20% excise duty

Find out more about SBM Products

Visit any of our Branches

Find a Branch

Reach us on

+254 (0) 709 800 000

Send an email

atyourservice@sbmbank.co.ke
Baraka Collection Account