ENTREPRENEUR BUSINESS ACCOUNT1. What are entrepreneur accounts?
These are a range of contemporary business accounts that provide a customized business solution for your business needs. There is a wide range of banking products to suit your business, regardless of the industry in which you operate.
2. What type of Entrepreneur accounts are there?
There are 2 broad types of Transactional Current Accounts Flat Fee & Pay as You Go Accounts
1. Flat fee accounts
These are bundled accounts that are designed for business customers
who want predictable monthly charges on their business accounts.
Customers have a choice of these 4 accounts;
Entrepreneur Business Direct : Fee of KES 800 per month
Entrepreneur Business Gold : Fee of KES 1,400 per month
Entrepreneur Business Platinum : Fee of KES 2,000 per month
Entrepreneur Business Platinum Plus : Flat Fee of KES 3,000 per month
2. Pay As you go Account
These are non-bundled accounts aimed at the business customers who prefer
per transaction charging on their business accounts. Customers have a choice
Zero fee business current account
Standard pay-as-you-go business current account
3. Can the customer be charged more than the flat fee?
Yes, if a customer does more than 20 transactions in a month, they will be charged KES 30 per additional transaction.
4. Is there any joining fee to be a member of the NIC Entrepreneur Club?
NO, there is no joining fee, however, membership to the club is by invitation.
5. Who qualifies to be a member of NIC Entrepreneur Club ?
All Entrepreneur Account holders qualify to become members of the Club
6. Do you get any preferential treatment as a member of the NIC Entrepreneur Club?
Yes, you are issued with a membership card which allows you access to services offered by partners, access to future workshops which focus on capacity building, identifying opportunities in emerging markets etc
7. What is the difference between Platinum and Platinum Plus Accounts?
All the features are the same except for the cash handling feature which is negotiable for Platinum Plus.
8. Who qualifies for the Platinum Plus Account?
Customers who have a turnover of about Ksh 10 m per month .
9.Are Flat Fee customers charged for Mobile banking transactions and notifications?
No,. However, they will pay for M-PESA, Funds transfer and Stop Cheque Transactions