Loop

Looking to transfer funds from M-Pesa to Loop account but unsure how to do it? Here’s a straightforward guide to ensure a smooth and swift transfer:

Prerequisites:

  • An active M-Pesa account
  • Loop mobile app

How to Deposit Money from M-Pesa to Loop:

  1. Open M-Pesa: Access your Mpesa menu on your phone or through the M-Pesa app.
  2. Select “Pay Bill” Option: Choose the “Pay Bill” option from the M-Pesa menu.
  3. Enter Business Number: Input NCBA Loop’s Pay Bill number: 714777.
  4. Enter Account Number: In the “Account Number” field, enter your mobile phone number. It’s crucial to ensure accuracy to avoid any delays.
  5. Enter Amount: Specify the amount of money you wish to transfer from your Mpesa account to your Loop account.
  6. Enter Mpesa PIN: For security purposes, enter your M-Pesa PIN to confirm the transaction.
  7. Review and Confirm: Double-check all the details – Pay Bill number (714777), your mobile phone number, and the transfer amount. Once everything is accurate, confirm the transaction.
  • You’ll receive a confirmation SMS from M-Pesa acknowledging the transaction.
  • Loop will also send you an SMS notification confirming the successful deposit into your Loop account.
  • The funds should be reflected in your Loop account balance almost instantly.

Transaction Fees:

  • M-Pesa: As of May 2024, Mpesa charges no fees for sending money to Lipa na Mpesa pay bill services like NCBA Loop. via Safaricom
  • Loop: However, Loop imposes transaction charges while withdrawing TO M-Pesa

Alternative Top-Up Methods (Optional):

While M-Pesa is a popular and convenient option, Loop offers other top-up methods for your convenience:

  • Cash Deposit: Visit any NCBA branch and deposit cash directly into your Loop account.
  • Cash Deposit Machine (CDM): For faster cash deposits utilize NCBA’s Cash Deposit Machines located at select branches.
  • EFT, RTGS, or PesaLink: Transfer funds directly from your bank account to your Loop account using Electronic Funds Transfer (EFT), Real-Time Gross Settlement (RTGS), or PesaLink (interbank money transfer service).
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With these options at your disposal, you can choose the method that best aligns with your needs and preferences.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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