Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Thursday, Feb 21, 2019
SME
To contribute to these and use other features, please register.
LATEST DISCUSSIONS
Alternative Poultry Feeds [4]
Relocating an SME to Nairobi, Kenya [16]
GoldenScapes [1]
Matatu Business [936]
Best bank for a small,Growing business [25]
Graduate Salaries in Kenya : A Review [145]
Starting a Poultry Farm [1]
Short-let Business Investment [5]
Kenyan negotiation tactics are backward and evil [4]
AirBnB [10]
Poultry Farming Section [150]
Best SME bank [23]
Nipe Lift [103]
Random business idesas [18]
Advert of the year...FAIBA [15]
 
Forum Jump


Welcome Guest Search | Active Topics | Log In | Register

2 Pages12>
Best SME bank
BambooProductsKe
#1 Posted : Monday, May 13, 2013 10:21:50 AM
Rank: New-farer


Joined: 5/13/2013
Posts: 14
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?
lindachepp
#2 Posted : Monday, May 13, 2013 1:15:00 PM
Rank: Hello


Joined: 5/13/2013
Posts: 1
Hi, if you wouldn't mind, kindly provide me with your email address or phone number we can keep in touch
mawinder
#3 Posted : Monday, May 13, 2013 1:46:28 PM
Rank: Elder


Joined: 4/30/2008
Posts: 6,009
lindachepp wrote:
Hi, if you wouldn't mind, kindly provide me with your email address or phone number we can keep in touch

Multiple threads!!!!Keep off wazua!!!!
washiku
#4 Posted : Monday, May 13, 2013 3:46:25 PM
Rank: Chief


Joined: 5/9/2007
Posts: 13,061
BambooProductsKe wrote:
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?


Chase Bank, Consolidated Bank. I can give you a contact in Chase who can ensure u r sorted faster faster
BambooProductsKe
#5 Posted : Monday, May 13, 2013 4:23:02 PM
Rank: New-farer


Joined: 5/13/2013
Posts: 14
washiku wrote:
BambooProductsKe wrote:
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?


Chase Bank, Consolidated Bank. I can give you a contact in Chase who can ensure u r sorted faster faster



HI!

Kindly provide me with the contact person's number/name or email me at hautelifestyle.KE@gmail.com
washiku
#6 Posted : Wednesday, May 15, 2013 10:59:57 AM
Rank: Chief


Joined: 5/9/2007
Posts: 13,061
BambooProductsKe wrote:
washiku wrote:
BambooProductsKe wrote:
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?


Chase Bank, Consolidated Bank. I can give you a contact in Chase who can ensure u r sorted faster faster



HI!

Kindly provide me with the contact person's number/name or email me at hautelifestyle.KE@gmail.com


I have asked him to contact you. If they dont let me know so that I can whip them up to action.
maka
#7 Posted : Wednesday, May 15, 2013 12:49:07 PM
Rank: Elder


Joined: 4/22/2010
Posts: 10,877
Location: Nairobi
washiku chase bank...really?
possunt quia posse videntur
mawinder
#8 Posted : Wednesday, May 15, 2013 2:12:39 PM
Rank: Elder


Joined: 4/30/2008
Posts: 6,009
maka wrote:
washiku chase bank...really?

For SME's the banks to use are Family Bank,Consolidated Bank,Chase Bank,DTB,Equity,KCB but it is prudent to have more than one account as a bank may not be all round good eg Family bank does not have internet banking but is good in its loans and bidbonds.I have 27 accounts and these enable me receive payments immediately if the cheque is from the same bank,instead of waiting for 4 working days but the main accounts are 3.It also depends on your race eg if you are Mhindi the above may not apply to you.
You should also note that Nakumatt is an SME.
kryptonite
#9 Posted : Wednesday, May 15, 2013 3:25:03 PM
Rank: Member


Joined: 2/1/2010
Posts: 272
Location: Nairobi
I'd recommend Chase Bank. I've also heard good things about Bank of Africa.
The harder you work, the luckier you get
dunkang
#10 Posted : Wednesday, May 15, 2013 4:58:54 PM
Rank: Elder


Joined: 6/2/2011
Posts: 4,764
Location: -1.2107, 36.8831
mawinder wrote:
maka wrote:
washiku chase bank...really?

For SME's the banks to use are Family Bank,Consolidated Bank,Chase Bank,DTB,Equity,KCB but it is prudent to have more than one account as a bank may not be all round good eg Family bank does not have internet banking but is good in its loans and bidbonds.I have 27 accounts and these enable me receive payments immediately if the cheque is from the same bank,instead of waiting for 4 working days but the main accounts are 3.It also depends on your race eg if you are Mhindi the above may not apply to you.
You should also note that Nakumatt is an SME.

@Mawinder, 27 a/c? Are you CBK?
Receive with simplicity everything that happens to you.” ― Rashi

mawinder
#11 Posted : Wednesday, May 15, 2013 5:10:08 PM
Rank: Elder


Joined: 4/30/2008
Posts: 6,009
dunkang wrote:
mawinder wrote:
maka wrote:
washiku chase bank...really?

For SME's the banks to use are Family Bank,Consolidated Bank,Chase Bank,DTB,Equity,KCB but it is prudent to have more than one account as a bank may not be all round good eg Family bank does not have internet banking but is good in its loans and bidbonds.I have 27 accounts and these enable me receive payments immediately if the cheque is from the same bank,instead of waiting for 4 working days but the main accounts are 3.It also depends on your race eg if you are Mhindi the above may not apply to you.
You should also note that Nakumatt is an SME.

@Mawinder, 27 a/c? Are you CBK?

This ensures I don't wait for 4 working days for the cheques to clear.
mmarto
#12 Posted : Wednesday, May 15, 2013 6:49:51 PM
Rank: Member


Joined: 4/20/2010
Posts: 401
Location: nairobi
mawinder wrote:
dunkang wrote:
mawinder wrote:
maka wrote:
washiku chase bank...really?

For SME's the banks to use are Family Bank,Consolidated Bank,Chase Bank,DTB,Equity,KCB but it is prudent to have more than one account as a bank may not be all round good eg Family bank does not have internet banking but is good in its loans and bidbonds.I have 27 accounts and these enable me receive payments immediately if the cheque is from the same bank,instead of waiting for 4 working days but the main accounts are 3.It also depends on your race eg if you are Mhindi the above may not apply to you.
You should also note that Nakumatt is an SME.

@Mawinder, 27 a/c? Are you CBK?

This ensures I don't wait for 4 working days for the cheques to clear.


From June 16th 2013 cheques will clear after 1 daysmile
The only time you should be looking down on others is when you are helping them up.
washiku
#13 Posted : Thursday, May 16, 2013 4:07:29 PM
Rank: Chief


Joined: 5/9/2007
Posts: 13,061
washiku wrote:
BambooProductsKe wrote:
washiku wrote:
BambooProductsKe wrote:
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?


Chase Bank, Consolidated Bank. I can give you a contact in Chase who can ensure u r sorted faster faster



HI!

Kindly provide me with the contact person's number/name or email me at hautelifestyle.KE@gmail.com


I have asked him to contact you. If they dont let me know so that I can whip them up to action.


Bamboo, he says u write to him on: wwaiganjo@chasebank.co.ke
SonOfGod
#14 Posted : Thursday, May 16, 2013 4:24:59 PM
Rank: Member


Joined: 11/15/2007
Posts: 22
"Excellent" and "bank" in the same sentence? Not in Kenya.

Same monkeys, different forests!!
BambooProductsKe
#15 Posted : Sunday, May 19, 2013 11:36:59 AM
Rank: New-farer


Joined: 5/13/2013
Posts: 14
THANKS. I did. Signing up for DTB as we speak. Will open another with chase!

Many thanks.

washiku wrote:
washiku wrote:
BambooProductsKe wrote:
washiku wrote:
BambooProductsKe wrote:
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?


Chase Bank, Consolidated Bank. I can give you a contact in Chase who can ensure u r sorted faster faster



HI!

Kindly provide me with the contact person's number/name or email me at hautelifestyle.KE@gmail.com


I have asked him to contact you. If they dont let me know so that I can whip them up to action.


Bamboo, he says u write to him on: wwaiganjo@chasebank.co.ke

Banker
#16 Posted : Sunday, May 19, 2013 11:20:42 PM
Rank: New-farer


Joined: 4/1/2013
Posts: 20
@Bamboo, you have posed a very intriguing question whose answer would be all banks. When we talk of an SME account, what comes to mind is a business current account which across all banks would have no minimum balance requirement. The trick would be in the monthly ledger fees and maintenance fee. And how easy would it be to get an overdraft. If you drew a cheque of Kes.900K while your account balance is 895K, would your bank clear it for you or return it to the drawer with those two words that are every entrepreneur's nightmare; "Insufficient funds". Would your bank take note if your monthly turnovers started growing from say Kes.500,000 p.m to Kes.2M p.m ? And would your bank be willing to stand with you before you get your footing or would they rather watch from a distance until your risk profile drops to an acceptable level ?
mkeiyd
#17 Posted : Tuesday, May 21, 2013 12:58:07 PM
Rank: Veteran


Joined: 3/26/2012
Posts: 1,182
mawinder wrote:
maka wrote:
washiku chase bank...really?

For SME's the banks to use are Family Bank,Consolidated Bank,Chase Bank,DTB,Equity,KCB but it is prudent to have more than one account as a bank may not be all round good eg Family bank does not have internet banking but is good in its loans and bidbonds.I have 27 accounts and these enable me receive payments immediately if the cheque is from the same bank,instead of waiting for 4 working days but the main accounts are 3.It also depends on your race eg if you are Mhindi the above may not apply to you.
You should also note that Nakumatt is an SME.


That is comforting for me,no more worries.
chiaroscuro
#18 Posted : Wednesday, May 22, 2013 2:42:28 PM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,023
Location: Nairobi
What's the definition of SME in Kenya?

In terms of turnover.

In terms of employees.
mawinder
#19 Posted : Wednesday, May 22, 2013 3:27:29 PM
Rank: Elder


Joined: 4/30/2008
Posts: 6,009
chiaroscuro wrote:
What's the definition of SME in Kenya?

In terms of turnover.

In terms of employees.

Definition of an SME in Kenya

An SME is defined as an entity that,

a) Does not have public accountability
b) Publishes general purpose financial statements for external users eg owners not involved in day to day management; Kenya Revenue Authority; existing and potential creditors; credit rating agencies.
c) Whose debt and equity instruments are NOT traded in the public market (A domestic or foreign stock exchange or over the counter market)

AND

d) Does NOT hold funds in a fiduciary capacity for a broad group of outsiders as one of its primary businesses such as banks, credit unions, insurance companies, securities brokers/dealers, mutual funds and investment banks

SMEs will have the option to use IFRSs for SMEs or the full IFRSs



Non SMEs are Publicly Accountable entities that,

a) Have their debt and equity instruments traded in the public market (A domestic or foreign stock exchange or over the counter market)

AND/OR

b) Hold funds in a fiduciary capacity for a broad group of outsiders as one of its primary businesses such as banks, credit unions/Saccos, insurance companies, securities brokers/dealers, mutual funds and investment banks
washiku
#20 Posted : Thursday, May 23, 2013 5:04:40 PM
Rank: Chief


Joined: 5/9/2007
Posts: 13,061
All the best!

BambooProductsKe wrote:
THANKS. I did. Signing up for DTB as we speak. Will open another with chase!

Many thanks.

washiku wrote:
washiku wrote:
BambooProductsKe wrote:
washiku wrote:
BambooProductsKe wrote:
Hi Entrepreneurs!

We are looking for an Excellent bank for SME with minimum account balance and extremely fast account opening time.

Which bank would you recommend?


Chase Bank, Consolidated Bank. I can give you a contact in Chase who can ensure u r sorted faster faster



HI!

Kindly provide me with the contact person's number/name or email me at hautelifestyle.KE@gmail.com


I have asked him to contact you. If they dont let me know so that I can whip them up to action.


Bamboo, he says u write to him on: wwaiganjo@chasebank.co.ke


Users browsing this topic
Guest
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2019 Wazua.co.ke. All Rights Reserved.