Introduction
Family Bank, established as a fully-fledged commercial entity in May 2007, epitomizes the dynamic evolution of financial services in Kenya. Regulated by the Central Bank of Kenya (CBK) and scrutinized under the rigorous CAMEL rating system - which evaluates Capital adequacy, Asset quality, Management, Earnings, and Liquidity—Family Bank has upheld robust standards in banking governance. Being a member of the Deposit Protection Fund (DPF) further reassures its customers by safeguarding their deposits, thus enhancing trust and reliability within its financial operations.
From its humble beginnings with just one branch in 1985, Family Bank has burgeoned into a substantial network comprising 92 branches across the country. This expansion narrative is complemented by its pioneering introduction of paperless banking in Kenya through smart card technology, allowing customers seamless transactions without the hassle of traditional deposit or withdrawal slips. The year 2013 marked a milestone for the bank as it reached the one billion Shilling mark in pre-tax profits for the first time, registering a remarkable 108% growth to 1.78 billion Shillings.
By 2015, Family Bank continued to demonstrate its financial prowess, increasing its pre-tax profits to Ksh 2.9 Billion, up from Ksh 2.62 Billion the previous year, driven by a robust increase in lending, aggressive deposit growth, and an expanding customer base. Now serving over 1.7 million customers, Family Bank has not only significantly grown its balance sheet and deposit base but also established itself as a leader in market innovation and customer satisfaction in Kenya's banking sector.
What Kind of Loans Does Family Bank Offer?
Family Bank has crafted a diverse array of loan products tailored to meet the varied needs of its customers, reinforcing its position as a comprehensive provider of financial solutions in Kenya. These loans are designed to accommodate different segments of the economy, including individuals and businesses, ensuring accessibility and financial inclusion.
Personal Loans
Family Bank's personal loans are structured to provide immediate financial relief and flexibility, catering to urgent and routine financial needs of individuals. The offerings include:
Mobile Loans: This digital solution allows customers to access loans conveniently through their mobile devices, ensuring that financial support is just a few clicks away, anytime and anywhere.
Salary Loan: Tailored for employed individuals, this loan provides a lump sum based primarily on the borrower's salary, helping to meet larger personal or family expenses.
Salary Advance: For those moments when customers need an advance on their salary, Family Bank provides a bridging solution to cover immediate costs without disrupting personal cash flow.
Check-Off Loan: Particularly designed for employees whose employers have a check-off arrangement with Family Bank, this loan facilitates easier loan repayments directly deducted from the borrower's salary.
Mortgage Loans
Understanding the significance of real estate investment, Family Bank offers a comprehensive suite of mortgage products aimed at facilitating property ownership and development:
Brick by Brick: Ideal for individuals looking to gradually build their homes, this loan supports phased construction, making it easier for homeowners to manage costs effectively.
Estate Development: This loan is aimed at developers seeking to construct residential estates, providing substantial capital for large-scale property developments.
Company Schemes: Tailored for corporate entities, this mortgage product allows companies to provide housing benefits to their employees through structured financing.
Construction Loans: For those looking to oversee their building projects from start to finish, Family Bank offers construction loans that finance the creation of new structures.
Owner Occupier: Specifically designed for those who intend to live in the properties they are purchasing or constructing, ensuring that homeowners can invest in their future residences.
Plot Loans: Catering to the initial stage of property ownership, these loans assist customers in purchasing land as a foundation for future development or investment.
Exploring Family Bank's Internet Banking Platform
Family Bank has embraced the digital age with a robust internet banking platform that allows customers to manage their financial affairs seamlessly and efficiently from anywhere in the world. This commitment to technological innovation underscores the bank's dedication to providing convenient, secure, and comprehensive banking solutions.
How to Access and Register for Internet Banking
The process to engage with Family Bank's internet banking begins with a simple registration:
Log on to Internet Banking: Existing users can easily log into their accounts through the bank's website
Register for Internet Banking: New users can register through a self-registration portal available on the bank's website. This user-friendly interface ensures that setting up internet banking is a straightforward process, requiring just a few steps.
Available Services
Once registered, customers can access a wide array of services designed to enhance the banking experience:
Mass Payments: This service is ideal for businesses that need to handle multiple transactions such as salary remittance, dividend payouts, and bulk M-Pesa transfers.
Direct Messaging: Customers can communicate directly with bank representatives for inquiries or support, enhancing the customer service experience.
Statutory and Government Payment Module: This includes integrated modules for payments to critical government services like the Kenya Revenue Authority (KRA) and National Hospital Insurance Fund (NHIF), among others.
Money Transfer: The platform facilitates easy and secure transfers of money between accounts or to other recipients.
Password Reset Feature: Users can reset their passwords directly through the internet banking portal, ensuring continued access to their accounts.
Benefits of Using Family Bank's Internet Banking
The benefits of using Family Bank's internet banking are manifold and cater to the needs of a modern banking customer:
Convenience: Users can access their accounts at any time and from any location worldwide, not restricted by traditional banking hours.
Cost-Effectiveness: Transactions performed via internet banking are generally cheaper than those conducted through conventional banking methods.
Self-Management: The platform allows customers to manage their financial dealings actively, such as setting up regular payments, viewing detailed reports, and querying transactions.
Requirements for Internet Banking
To utilize Family Bank's internet banking, a customer must meet the following prerequisites:
Account Holder: The applicant must have an existing account with Family Bank.
Contact Information: A valid email address and mobile number are essential to facilitate secure and efficient communication and transaction confirmations.
Family Bank Paybill: Simplifying Payments and Banking
Family Bank's Paybill number is a cornerstone of its mobile banking services, offering an easy and convenient way for customers to manage their finances without the need for physical bank visits. This service is part of Family Bank's commitment to leveraging technology to enhance customer experience, making banking more accessible and hassle-free.
Channels for Mobile Banking
Family Bank provides several channels that cater to the varied preferences and needs of its customers:
- Pesapap Mobile App: A comprehensive mobile application that allows customers to access a wide range of banking services on the go.
- USSD Code: For customers without access to internet services, the USSD code offers a simple and effective way to carry out banking transactions via mobile phones.
- Mobile Money Paybill Number: This feature integrates seamlessly with mobile money services, allowing customers to transfer funds easily between their bank accounts and mobile wallets.
Key Features of Family Bank Paybill
The Paybill number, integral to Family Bank's mobile banking offerings, enables several practical functions:
- Deposit Money: Customers can deposit money directly into their Family Bank accounts using the Paybill number. This is especially useful for those who wish to avoid queues at bank branches.
- Balance Check and Transfers: The Paybill service also allows users to check their account balances and transfer money to mobile money wallets, enhancing the flexibility of financial management.
Special Paybill Number for School Fees
In addition to general banking transactions, Family Bank has introduced a specific Paybill number (222115) designed to facilitate the payment of school fees:
- School Fees Payment: Parents and guardians can use the Paybill number 222115 to directly deposit school fees into a Family Bank school account via M-PESA. This specialized service aims to simplify the process of school fee payments, making it more convenient and less time-consuming for families.
Family Bank Customer Care: Ensuring Support Around the Clock
Family Bank is dedicated to providing exceptional customer service, ensuring that every customer receives personalized assistance whenever needed. The bank's customer care framework is designed to cater to both local and international clients, reflecting its commitment to excellence in service delivery.
24/7 Customer Support
Understanding the need for constant access to banking support, Family Bank's customer service is available 24 hours a day. This around-the-clock availability ensures that customers can receive help at any time, whether it’s for urgent inquiries, transactional issues, or general banking questions.
Call Centre Accessibility
For immediate assistance, customers can reach the Family Bank call centre at any time through the following numbers:
- Kenya-Based Numbers:
- +254 (0) 703 095 445
- +254 (0) 703 095 000
- 020 3252 445
- 020 3252 000
These numbers connect customers directly to the bank’s customer service team, who are trained to offer swift and effective solutions to various concerns or inquiries.
Specialized Support for Diaspora Customers
Recognizing the unique needs of its diaspora customers, Family Bank has set up a network of specialized diaspora agents. These agents are strategically positioned across the globe to provide tailored banking solutions to Kenyans living abroad. This service ensures that diaspora customers can manage their banking and financial needs with ease, no matter where they are in the world.
- Diaspora Customer Support: Customers can find more information and connect with diaspora agents by visiting Family Bank's diaspora page . This dedicated resource helps bridge the gap between the bank and its international clients, providing a direct line to assistance familiar with their specific circumstances