Safaricom will deduct their charges from your Mpesa Account, while Co-operative Bank deducts their charges in your bank account therefore after the transfer, your new Bank account balance will be less the transaction fees.

Transaction charges are:

Range M-Pesa Charges (Charged in your M-pesa Account) Coop Bank Charges (Charged in your Bank Account) Total
Ksh.100 – Ksh. 2,499 Ksh. 30 Ksh. 30 Ksh. 60
Ksh. 2,500 – Ksh. 4,999 Ksh. 50 Ksh. 50 Ksh. 100
Ksh. 5,000 – Ksh. 9,999 Ksh. 75 Ksh. 75 Ksh. 150
Ksh. 10,000 – Ksh. 19,999 Ksh. 100 Ksh. 100 Ksh. 200
Ksh. 20,000 – Ksh. 35,000 Ksh. 150 Ksh. 150 Ksh. 300

Go to the Mpesa menu on your phone and select Pay Bill option.
Enter business no. 400200 (Please confirm with your bank in-case of any change)
Enter your Cooperative Bank Account no.
Enter the amount to transfer (maximum amount per transaction 1s Ksh. 35,000, and Ksh.70,000 maximum within 24 hours)
Enter your M-PESA PIN number
Confirm your details and press OK/Send
Next, you will receive and SMS from M-PESA showing the amount has been transfered from your account, it reads: “XC12FSA7 confirm <amount > sent to Co-operative Bank Money Transfer for accounton 05/12/10 at 11:30 am.New M-PESA balance is”

You will receive an SMS from Cooperative Bank confirming that the money has be transfered to your account: “M-Pesa Paybill Amount =will be transferred to bank A/c,, shortly. Co-operative Bank K Ltd.”

In one hours time, the money will be available in your account for any other transaction e.g online transaction using your ATM card.

HOW TO TRANSFER MONEY FROM CO-OPERATIVE BANK TO M-PESA:
Now, to Access money in your bank account for different services, You need to have registered for M banking at any Cooperative Bank Branch.

Then on your phone press *667#. A menu will appear on your phone from which you select what M banking service you need as follows :

5. Mpesa
4. Airtime (Pre-paid only)
3. Utilities
2. Alerts
1. Banking
0. Call center Number

Press the number against the service you need. In our case you press 5 and follow the intuitive wizard. However, you need to be fast in keying in information in each step, if you delay for more than say 60 seconds in a single step, the system does not complete your request and you have to start afresh.

As at the date of this post, Cooperative bank charges a flat fee Ksh. 60 to transfer money to your MPesa account regardless of the amount. You are however limited to transfering a total of Ksh. 75,000 within 24 hours.