Agency banking is improving banking efficiency in Kiambu Town and this is proved by the presence of numerous major local bank agencies offering their services.
Speaking in Kiambu town, Joyce Njeri, an agent in the town says these services have attracted more customers to banking.
“Every month, up to 15 new customers open an account. Many customers prefer agents because services are provided in less than ten minutes,” she notes.
She points out the reduction of the traditional long queues in banking halls since the introduction of agents.
Agnes Nyambura, another agent says the services provided are no different from those in the banking halls which has increased the appreciation by customers.
“Just like in banks, customers can transact conveniently. Customers can pay school fees and other bills and get access to bank statements. There is no need to queue for a whole hour just to know how you’ve been banking,” she says.
Even with such conveniences, Nyambura is quick to point out that some customers still prefer the traditional banking halls.
“Some locals are resistant to change and find it hard to trust the new system,” she explains this as a challenge to the agents as it slows down business.
Apart from this, John Waiganjo, a customer in one of the local banks complains that withdrawal costs in agencies are high.
“Withdrawing with an ATM card stands at a fixed price regardless of the amount,” he notes comparing this to costs that vary when withdrawing through an agent.
Waiganjo says the charge which may cost upto Sh255 in some banks often affects a customer’s budget.
“I may desperately need the whole amount but will have to part with extra shillings,” he says.
For Alex Keino, an agent, language barrier as a hindrance as many customers are only fluent in vernacular.
“On several occasions I have misunderstood the service needed only realizing when a customer comes complaining with an interpreter,” he says.
He has however termed bank agents as a helping hand to the industry as the benefits as outweigh the setbacks in the new system.