Solutions for Schools

Our Solutions for Educational Institutions (SEI) suite is a comprehensive proposition targeted at private educational institutions nationwide. The proposition looks to take care of the needs of the school as a business and that of the stakeholders comprising of the parents, staff, students and proprietors of the school.

• This product carries all benefits which suits the school for fee collection account:
• Ability to make payments to vendors
• Cheque books
• Overdraft facility: To meet your temporary working capital requirement. A Business Overdraft is a revolving credit facility that allows you to draw funds, up to an agreed limit, from your account. You have the flexibility to draw money as you need it. You only pay interest on the money you use, making an overdraft one of the cheapest ways to borrow from us.
• Salary distribution: Following instruction for salary payment, the school does not need to give several cheques. One cheque of the total salaries to be paid will suffice alongside a list of the employees to be paid, the amount they need to be paid and the account number. Against these requirements, the Bank will ensure that salaries are disbursed to the individual accounts in a timely manner.

• This product can be tailor-made to fit your needs;
• Accounts can be opened in SSP, USD, Euro, GBP and KSH
• Earn Interest on Current Account
• SSP 4% per annum
• Foreign currency (US$) currently 0.50% per annum
• Cheque book facility available
• Anywhere banking
• SWIFT or WIRE transfer
• We provide regular statements of accounts of the school upon request;
• Customized bank slips with the school logo (free of charge)
•  
• Statement of accounts contains the name of the students and their class/roll numbers for easy reference.
• Overdraft facility available on request for current accounts against school fees collection
• Payment of the school fees can be made at any branch across the country
• Fee collection charge at nominal cost
• Facility for payment of fees through Mobile Money *** coming soon***

• Minimizes the risk of loss of money through conmen and unscrupulous people
• Improves operational efficiency of banks as it removes long queues in banking halls.
• Less deployment of security and staff to handle the influx of periodic payments.
• Modern and safer process of making payments.
• Eliminates the presentation of forged / fake bank slips by students to parents / guardians (inflated amount)
• Fees are collectable at any MTD Bank branch