SBM Bank is a Mauritian bank that got into the Kenyan market in the year 2018 through the acquisition of Chase Bank. It is a subsidiary of SBM Group, a financial services conglomerate based in Mauritius. SBM Group has subsidiaries in Mauritius, India, Madagascar, and Kenya. In Kenya, the bank has a network of branches, serving customers in Nairobi, Mombasa and other areas.
The bank has invested in technology to make banking easier for its customers. If you are a customer, you can easily transfer money between your bank account and your M-Pesa number.
Here is a guide on how to deposit and withdraw money to and from your SBM bank account using their M-Pesa Paybill number, 552800:
How to deposit money from your Mpesa account to your SBM Bank account
For you to make the transfer from Mpesa to your SBM bank account, it is crucial that you know their Paybill number, 552800.
- Open your Mpesa Menu
- Select Lipa na Mpesa
- Choose Paybill Option
- Enter SBM Bank’s Business Number, 552800
- Key in the SBM account number that you want to deposit the money to as your M-Pesa Paybill account number
- Enter the amount you want to send to your bank account.
- Enter your Mpesa pin and Confirm the transaction
How to withdraw money from SBM Bank account to your M-Pesa number
You can withdraw money from your bank account to your M-Pesa account through their USSD code, *275#. To do so, dial *275# on your phone and enter your password. Select “Withdraw funds” on the menu that pops up. Choose whether you want to withdraw money to your number or another number, then enter the number you want to withdraw money to, followed by the amount and the pin.
If the transaction is successful, you will receive confirmation messages from both M-Pesa and SBM bank.
