Faulu Microfinance Bank joins Kenya Bankers Association (KBA) clearing house.
Faulu Microfinance Bank has taken a major step to improve its customer services by officially joining the Kenya Bankers Association (KBA) clearing house. This new development is expected to bring faster and more reliable transaction processes to users across the country.
Now Part of the Automated Clearing House
Faulu’s inclusion in the Automated Clearing House (ACH), developed in partnership with KBA and the (CBK), means the bank can now process interbank transactions more efficiently. This system allows money to move between banks faster and more smoothly, giving customers better service overall.
Faster Transfers and Cheque Clearance
With the ACH system in place, Faulu customers will enjoy shorter waiting times for transactions. Local cheques will be cleared by the next working day, while foreign cheques in major currencies like the USD, Euro, and Pound will now take only two working days, a big improvement from the previous three-week delay.
A Boost for Bulk Payments and Institutions
This new upgrade is expected to help not only individuals but also institutions like churches, schools, and county governments. These groups often handle large amounts of money, and the enhanced system will help them make bulk payments more quickly and securely.
CEO Highlights Customer-Centered Innovation
Faulu CEO Julius Ouma welcomed the transition, calling it part of the bank’s plan to offer modern and trusted banking solutions.
“We are focused on giving our clients more control, easier access, and improved confidence in how they manage their money,” he said.
