CBA loop app is an internet banking solution created by the Central Bank of Africa with the aim of making banking fun, easy and comfortable. CBA believes you do not have to leave your house to visit a bank hall in order to get banking services. That is where the whole motivation for creating loop banking started.
People out here earn huge salaries but they have little to show for it. Have you ever wondered where your money goes and the loopholes that suck up your finances?
Well, I guess no one can help you reconcile your finances better than the CBA loop banking app.
What is CBA LOOP banking?
Loop banking is the newest way of banking via the phone. It is like a more advanced mobile banking platform that allows you to perform more queries and functions.
With CBA loop, you will be able to reconcile your monthly receipts hassle-free and account for your spending by the tap of a button.
The CBA loop app allows you to analyze your spending habits to establish where you stand financially.
The app even compares your spending habits with your peers so you are able to adjust your financial management skills and stay ahead of the pack.
If you need to challenge yourself financially in order to achieve greater financial goals, the CBA loop app is a handy app to have.
Financial management is not the only thing that the app does, you can also apply for overdraft loans, term loans, and salary advance loans from the loop app.
You do not have to visit any office or talk to anybody in order to qualify for these loans. The app automatically tells if you qualify for the loans.
About CBA Loop Banking
The inspiration behind the development of CBA bank was to eliminate the need of visiting a physical bank in order to get basic services.
As such, the app has been designed and developed to offer almost all the service you would get in a bank. All core banking services from CBA bank can easily be accessed via the CBA loop banking app.
See also | How to qualify for loans from SENTI LOAN APP
CBA bank claims that the app is targeted to the youthful population in Kenya who can benefit a lot from the mentorship tools available in the app.
CBA Loop paybill
Loop banking from CBA combines the web and other mobile money transfer platforms like Mpesa. If you wish to deposit money into your loop bank account, use the following procedure to deposit via Mpesa.
- Go to your Mpesa Menu
- Select Lipa na Mpesa
- Paybill option [Enter Loop paybill number 714777]
- Account number [Enter your mobile number as Account Number]
- Press OK
- Amount [Enter the amount you want to deposit]
- Enter your M-PESA PIN and press “OK”
- Confirm all the details and complete transaction
- You will receive a confirmation SMS from M-Pesa immediately.
Loop will then send you a confirmation SMS but you can check your loop account for confirmation of deposit.
You can register for CBA loop banking by visiting www.cbaloop.com for registration. The registration is done online but you will have to visit a Loop Store to collect your Mastercard.
Loop to loop money transfer
Loop to loop money transfer is like a wallet to wallet or peer to peer transfer. Think of it like sending money from your Mpesa to another person’s Mpesa account.
Important | How to pay your NHIF contributions using Mpesa
It allows you to send and receive money from other loopers via the Loop app. Here is a simple guide on how to send money using the loop to loop option.
- Log in to your CBA Loop account
- Click on the Menu Icon on the left side of the app
- Select the send money option
- Select send money to mobile
- Send via Loop
- Fill in the recipients’ details, amount to send
- Click send
How to contact CBA
CBA loop banking is a trend that will gain traction since it is fashionable and convenient at the same time. If you have any questions regarding loop banking with CBA, you can contact them using the details provided below.
Head Office Address| Commercial Bank of Africa, Mara and Ragati Roads, Upperhill, Nairobi, Kenya
- Tel| +254 20 2884000, +254 20 2884444
- Mobile| +254 711 056444, +254 732 156444
- Fax| +254 20 2734616
- Email| email@example.com