Tag Archives: receiverships

Chase Bank to Reopen Part II

Since the announcement, more service have become available to the customers of Chase Bank that reopened. This past week, more services became available. Here’s a summary

Services That Have Resumed

  • Mfukoni (the bank’s mobile phone app)
  • ATM cards (but only at Chase Bank ATM’s)
  • Xpress branches (open from 10 a.m. to 6 p.m.)
  • RTGS outgoing and incoming
  • Foreign exchange (forex)
  • Inward and outward cheques
  • SWIFT transfers
  • Trade finance products
  • customer can repay existing loans to Chase Bank (in receivership)
  • New accounts can be opened
  • customer can get payments via mpesa paybil (mpesa to bank)
  • Withdrawals of up to Kshs 1 million (from every account)
  • SWIFT/ telegraphic  transfers (money from foreign countries) (Edit)


Not Yet Back

  • No interest is accruing on funds in savings accounts
  • No new loans are being issued yet
  • Credit card services
  • Online card purchases/Point of Sale
  • Access to fixed deposit accounts (that have not yet matured)
  • Funds that were in transit on April 6 & 7 (the day the bank close – and it seems these are being dealt with an a case by case basis)
  • No new ATM cards and no Pin re-generation

Most info from the very active Chase Bank responses to customers via Twitter 

As more services become available, the outcome of the bank from receivership, access to large deposits, the possible sale to new investor, the matter of insider loans taken by directors that led to the bank run and close are yet to be concluded.

EDIT: On August 15, Chase Bank announced that they had received approval to resume lending and taking long-term deposits.