Equity bank has always been regarded as the ‘people’s bank’ owing to its continuous efforts in promoting financial inclusion by targeting middle-low income earners via its wide range of products and services.

As a result, Equity has experienced significant growth in its customer-base over the years and as such, currently holds more than 16.9 million customers across Africa and a market share with nearly half of bank accounts in Kenya.

Some of the products and services offered range from deposit services, credit/loan facilities, savings/investments, payment services, money transfer services, insurance, overdraft services such as boostika etc

Therefore, in-order to provide convenience to its large consumer-base, Equity has integrated various platforms such as Eazzy App, USSD code *247#, Equitel SIM, Eazzy Net, with which its clients can utilize to access the various services offered.

Similarly, the availability of several options also provides alternatives in instances whereby network/system issues may occur such as delayed OTP authentications/SMS ALERTS or the much common deduction of balance despite transaction not going through when transferring money from Equity bank to MPESA.

In addition, most of the affected decry the lack of sufficient customer support from Equity bank when faced with the above transaction error with some claiming that calls/DM messages go unanswered for prolonged periods.

If you are facing such a situation, you can successfully manage it individually by following the below steps;

1. Don’t Panic

It is very understandable that the very initial response to the above scenario would be to panic due to the perception of loss of funds especially if it involves a substantial sum of money.

2. Verify Deduction Using Alternative Platforms

If you initiated the transaction using Eazzy app and it does not go through but your balance reflects the deduction, it is advisable to do a balance inquiry using the alternative channels such as *247#, Equitel SIM or online platform (EazzyNet) as at times, a specific platform may be malfunctioning thus resulting in false alarms.

3. Confirm Receipt Of Confirmation SMS

One sure way of determining whether the transaction has gone through is via SMS confirmation from both Equity and Safaricom. If you do not receive either of the two then it signifies that the transaction is unsuccessful.

4. Check Online For Official Announcements

Another foolproof method is to simply check online for any other user(s) in a similar situation. Good places to begin your search is on Equity’s social media pages such as Facebook or X (formerly twitter) for any official announcement regarding the issue.

If no announcements, then the other places to look is the comments section (Facebook) or replies section (X) for any complaints raised by other users.

Our Verdict

All-in-all, Equity has in the past acknowledged the above issue and has always attributed this phenomenon to a temporary system hitch whereby the deducted funds are automatically reversed within 24 hours.

In the event that your funds are not reversed within this time period, you are advised to officially reach out to Equity for assistance by;

• Visit your nearest Equity branch
• Call 100 from your Equitel line for free. Call 0763 000 000 from any other mobile network.
• Reaching out through official Equity Facebook
• Reaching out through official Equity X

Categories: Bank To M-PESA