Every business needs a bank account to manage its finances efficiently, process payments, receive funds and maintain accurate financial records.

A dedicated business account helps organisations separate corporate transactions from personal finances, improve financial transparency, and provide a reliable foundation for managing cash flow.

For institutions that handle large transaction volumes and frequent supplier payments, a current account offers the flexibility and banking services needed for smooth operations.

Equity Bank’s Business Current Account is one such solution, designed to support institutions and state corporations with substantial transaction volumes and working capital needs.

Equity Bank Business Current Account: Features and Benefits

Equity Bank’s Business Current Account is a cheque-operated account tailored for institutions and state corporations that require efficient payment processing and reliable financial management.

The account provides businesses with the tools to manage supplier payments, contractor transactions, and other financial commitments efficiently.

Key Features of Equity Bank’s Business Current Account

The account provides several banking facilities to support institutional financial management, including:

  • Cheque book facility: Enables businesses to make payments to suppliers, contractors and other service providers through cheques.
  • Overdraft and working capital facilities: Provides access to overdrafts and working capital credit lines
  • Digital banking: Offers access to Equity Online for Business, allowing institutions to manage their banking transactions digitally.
  • Standing orders and bulk payments: Supports automated recurring payments and the processing of multiple transactions efficiently.

Benefits of Equity Bank’s Business Current Account

One of the key advantages of Equity Bank’s Business Current Account is its flexibility in managing business payments.

Organisations can pay suppliers and contractors through different banking channels, helping streamline financial operations.

The account also offers access to credit facilities linked to account performance. This allows businesses to build a banking relationship that may support their working capital needs and other financing requirements.

Requirements for Opening an Equity Bank Business Current Account

Institutions seeking to open the account must provide the necessary documentation to establish their legal identity and confirm the authority of individuals operating the account.

The requirements include:

  • Certificate of registration or incorporation, or an establishing Act or Gazette notice.
  • Kenya Revenue Authority (KRA) PIN.
  • Identification documents and KRA PINs of authorised signatories.
  • Board or council resolution authorising the opening of the account or application for a banking facility and appointing signatories.
  • Specimen signatures of the authorised signatories.

Equity Bank Business Current Account Charges

Equity Bank’s Business Current Account has no account opening balance requirement and no minimum operating balance, making it accessible to institutions without the need to maintain a prescribed minimum amount.

The applicable charges include:

Transaction Charge
Account opening balance Nil
Minimum operating balance Nil
Inter-branch cash withdrawal Sh100
Counter cash withdrawal Sh100
Cheque book Sh17.50 per leaf, inclusive of stamp duty
Stop cheque instruction Sh1,500