Frequently Asked Questions

How can we assist you today?

What is an ATM and Cash deposit machine?


How do I apply for the SBM Platinum Saver Account?

To apply for SBM Platinum Saver Account, visit any SBM (K) Branch to fill in an account opening form with the following:

  1. Original Kenyan national ID card and copy or
  2. Original and copy of valid passport
  3. Valid VISA for immigrants
  4. Alien Certificate, work permits/dependent pass/student pass/internship or research pass/certificate of permanent residence
  5. KRA PIN
  6. 1 passport size colored photo
  7. FATCA completed forms for qualifying persons or entities. Any person who responds in the affirmative to this question MUST complete the FATCA forms:

Are you a US resident? (Y/N)

Are you a US citizen? (Y/N)

Are you holding a US permanent resident card (Green card)? (Y/N)

Were you born in the US? (Y/N)

Have you ever granted power of attorney or signatory authority to a person with a US address? (Y/N)

Do you have a US residential address? (Y/N)

Do you have a correspondence, C/O or hold mail address in the US? (Y/N)

Do you have a standing order to a US Bank account? (Y/N)

Do you have a US telephone no? (Y/N)

  1. Fully completed and signed Common Reporting Standard (CRS) certification forms. The following are Member Countries of CRS Reporting.

What is the account opening balance?

The recommended account opening balance is KES. 100,000. We however encourage customers to take up the solution by depositing any amount and grow their balances to Kes.100,000 or more to enjoy the 6% p.a interest.

What happens if my balance is below Kes 100,000.00, but I have committed to building the balance to Kes 100K?

You will earn an interest of 3% p.a until such a time when your balances will get to Kes 100,000 threshold or more.

Does the account require minimum operating balance?

The minimum operating balance is KES 100,000.00.

What happens when I withdraw funds more than once within a quarter?

Your account will earn an interest of 3% for all the days within the month of breach and will be tracked for a period of 90 days. The 6% interest rate will resume in the new month post the 90 day breach period provided account balance is maintained at KES. 100,000 and above.


Can I open an SBM Platinum Savings Account for my business?

The SBM Platinum Savings Account is open to individual customers only. We encourage business owners to open this account for their personal savings.

How can I send money to the account once operational?

The options available to send money to your Platinum Savings Account are:

  1. SBM (K) Branches - visit a branch to physically deposit cash to the account over the counter (additional documentation on source of funds may be required)
  2. M-Pesa Paybill: go to Lipa na M-Pesa > Select Paybill > Select Enter Business Number > Input 552800 > Select Account Number > Enter your 13 digit Account Number > Enter Amount > Enter M-Pesa PIN and the transfer will complete to your account
  3. Real Time Time Gross Settlement (RTGS)/EFT - transfer money via RTGS/EFT as per account details below, whether from an SBM (K) account or any other bank account:


BANK: SBM (K) Limited
Account Name: Your Account Name
Account Number: Your 13 digit account number  
Bank Code:


Swift Code: SBMKKENA


  1. Telegraphic Transfer (TT) – to send funds in USD, GBP, EUR, ZAR, INR, MUR currencies, kindly access TT Corresponding Bank Details depending on the international bank where funds will be transferred from. Funds transferred in other currencies will be converted using the days’ exchange rates (The customer may elect to negotiate for a rate directly with treasury)
  2. You can also write or deposit a cheque with your account name being the payee. Please note that the funds will only earn interest based on cleared balances. It takes one business day for a cheque to clear in addition to the day the cheque is deposited.

Can I withdraw funds from the account?

Withdrawals on the account are restricted to one every quarter. The account will earn an interest of 3% if the number of quarterly withdrawals are more than 1.

Can I view the account balance and access statements online or via mobile banking?

SBM Bank will provide you with free monthly e-statements to your email to be able to track account balances. You can call your account manager at the branch or SBM contact center to request for account balance for ad hoc requests.