Credit Bank Unveils Cash Pickup Portal to Boost Rural Financial Access -

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Credit Bank Plc has launched the Sacco Cash Pickup Portal Remittance Service, a groundbreaking solution designed to make overseas remittances faster, more affordable, and accessible for Kenyans in rural areas.

In partnership with Skyline SACCO, the service enables recipients to collect money sent via RIA at any of 14 SACCO branches across Nakuru, Baringo, Trans Nzoia, and Nandi counties in the first phase. This initiative, backed by the International Fund for Agricultural Development (IFAD) and other key partners, aims to reduce high transaction costs, improve financial literacy, and expand investment opportunities for Kenyans in the diaspora.

Transforming Remittances for Rural Kenya

Credit Bank CEO Betty Korir emphasized the importance of supporting Kenya’s diaspora, stating:

“Our diaspora community plays a vital role in Kenya’s economic growth, and sending money home should not be a costly burden. Partnering with RIA and leveraging digital solutions significantly reduces remittance costs, making financial services more inclusive—especially in underserved communities.”

By integrating remittance services with SACCO networks, Credit Bank is ensuring that even remote communities can receive funds conveniently. Recipients can withdraw cash instantly at Skyline SACCO branches using a valid ID and transaction reference number. Additionally, Skyline SACCO members can opt to have funds deposited directly into their accounts, providing a seamless and secure banking experience.

Making Cross-Border Transfers More Affordable

Currently, remittance costs to Kenya average 10.72%, far exceeding the global average of 6.65% and the United Nations Sustainable Development Goal (SDG) target of 3%. Credit Bank and RIA’s partnership offers a cost-effective solution, with mid-market exchange rates ranging from just 2% to 4%, with no hidden fees—making cross-border transactions more affordable for Kenyans worldwide.

Bridging the Financial Inclusion Gap

Despite the widespread adoption of mobile money, many Kenyans—especially in rural areas—still rely on cash-based transactions. According to the 2024 FinAccess Household Survey, while 91.3% of urban residents have access to financial services, only 80.2% of rural residents do. To bridge this gap, Credit Bank, Interswitch Kenya, and RIA are enabling select SACCOs to facilitate both inbound and outbound remittances, further enhancing financial accessibility.

Beyond remittance services, Credit Bank is also providing financial literacy programs covering budgeting, savings, and wealth management to help recipients make informed financial decisions and achieve long-term financial stability. The bank also supports investment decisions for diaspora customers through its Diaspora Information Hub, offering:

High-interest savings accounts

Vetted investment opportunities

Bank-approved commercial properties

Dedicated relationship managers for personalized financial support

The Nyumbani Account, originally designed for Kenyans abroad, now features digital onboarding via e-KYC, allowing diaspora members to open and manage accounts remotely, access remittances, and explore tailored financial services.

Through these innovations, Credit Bank is redefining remittance services, ensuring that Kenyans—wherever they are—can send, receive, and grow their finances with ease and affordability.