Absa Prepaid Card

For employers and employees alike, a prepaid card is all you need. It takes the hassle out of making and receiving payments. This means when it comes to paying your employees, you can do it safely and conveniently and travelling becomes simpler with all your forex on a single multi-currency card accepted internationally.

What you get
Manage all your foreign exchange on a single debit card. Load up to 9 different currencies at once

Using your prepaid card is the simplest and most convenient way to pay and be paid

Get and spend money without needing a bank account

Built-in fraud protection – no overspending and you can block card remotely

Complete audit trail and detailed electronic reporting

Card can be reloaded on demand

Simply log in to your prepaid card to manage it
How does it work
Card issue and card replacement fee: KES465

Get a Chip-and-PIN card (multicurrency prepaid card can bank in these currencies: US dollar, British pound, euro, South African rand, Canadian dollar, Australian dollar, Indian rupee, Japanese yen, Kenya shilling)

Card loading fee: KES126 (per load including sms alert cost)

Point-of-sale transactions: free

Online transactions: free

Foreign currency fees are subject to a commission of 3.2% (This applies if transaction currency is different from wallet currency.)

ATM services and charges are as follows
-Absa Bank ATM – KES50 + duty
-Non ABK/International ATM – KES200 + duty
-Foreign currency fees – subject to a commission of 3.2%
Note: Foreign banks may charge additional fees to dispense services

Cancellation or redemption is free
Documents required
What limited companies need to apply

Certificate of incorporation or certificate of compliance if not locally incorporated

Memorandum and articles of association/CR8, CR12

Company PIN certificate

National identification card (for Kenyan citizens)/Passport (for foreigners) for all directors (plus ultimate beneficiary owners if company is owned by other companies) and signatories/known agents

1 passport size photo each for all the signatories and directors/known agents

Board resolution specifying the signing powers on the company letter head sealed with the company seal

Signed Absa account opening pack (sealed)

Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)

Company physical address confirmation (can be found in the new PIN certificates)

 Annual returns (for companies registered over one year ago)

Revenue stamp – KES100

What sole proprietors need to apply

Certificate of registration

National identification card (for Kenyan citizens)/Passport (non Kenyans)

1 passport size photo

KRA PIN

Signed Absa account opening pack (sealed)

Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)

Company physical address confirmation

Personal return

Revenue stamp – KES100