Co-op Bank Boosts Daily ATM Cash Limit to Sh60,000 from Sh 40,000

Co-operative Bank of Kenya has some good news for its customers! They’ve decided to increase the amount of money you can take out from their ATMs every day. It’s now Sh60,000, which is 50% more than before. This change is happening because banks are looking at how much money people have these days.

You know, the value of money has been going down, and it’s affecting everyone. For example, a Sh1,000 note doesn’t buy as much as it did ten years ago – only about half as much. Co-op Bank realized it’s time to make things easier for you, so they’re letting you take out more money without having to go to the bank.

If you used to take out Sh40,000 a day, now you can take out Sh60,000. They sent a message to customers, saying, “Hey, we’ve made things more convenient for you! You can now take out up to Sh60,000 in a day from our ATMs.”

This change is the first one in almost ten years. Back in 2015, Co-op Bank already doubled the limit to Sh40,000 to make things less crowded at the bank branches. But now, they want to give you even more flexibility.

Remember, you can still only take out Sh40,000 in one go at the ATM. So, if you need Sh60,000, you’ll do two transactions. Also, if you use their digital platform, M-Co-op Cash, you can take out up to Sh70,000 in one go.

Co-op Bank isn’t the only one making this kind of change. Other banks, like Standard Chartered, raised their limit to Sh60,000 too. KCB Bank and Equity Bank let you take out up to Sh50,000 each day. Stanbic Bank keeps it at Sh40,000.

But why are banks doing this? Well, it’s not just about you. It’s also about making things smoother for everyone. If you can take out more money at the ATM, there won’t be so many people at the bank branches. They want to use the branches for advice and help, not just for putting in or taking out money.

This change is good for people who might not feel comfortable doing big transactions at the bank or in areas where it’s not so safe. So, thanks to Co-op Bank, getting your money just got a bit easier!