Chase Bank clients will begin to access their accounts online from today as receiver manager Kenya Commercial Bank attempts to manage a backlog of transactions ahead of reopening tomorrow.
The KCB Group CEO Joshua Oigara said the lender which was closed two weeks ago will begin clearing cheques next week. Chase Bank’s mobile banking service Mfukoni will also be availed today. However, customers will only be able to check their balances and not withdraw cash.
KCB, which will avail cash to facilitate the mid-tier bank’s reopening together with regulator Central Bank, is staggering the revival process to manage the bank’s operations and liquidity ahead of full reopening of Chase Bank’s 62 branches.
Oigara said that once the chasebank is opened on Wednesday customers engage in transacting business but not withdrawal of their money.According to KCB and CBK, depositors will access up to Sh1 million immediately. This means 97 per cent of its clients or six per cent of total deposits, will have their funds available in full.
KCB will retain most of Chase Bank’s staff, said the CEO, although some employees will be subjected to an audit.
Oigara said an audit on 10 top level managers is ongoing and will be complete by the time the bank reopens.