Diaspora FAQs Archives - Family Bank Limited, Kenya

The following products and services are available for Diaspora clients:

• Mkenya Daima Savings Account
• Mkenya Daima Current Account
• Visa ATM Card
• Internet Banking
• Mobile Banking
• Fixed/Call Deposits
• Trade in the Stock Market
• CBK treasury bill
• Mortgages;
  • Plot Purchase
  • Commercial Residential Purchase/Construction
  • Personal Residential Purchase/Construction
  • Equity Release

Online Registration

• Visit our Internet Banking Portal
• Click "Register" and complete the registration form with the required information
• Ensure you have read and agreed to the terms and conditions provided
•  Click "Submit"

Offline Registration

• Download and fill in our Internet Banking Form
• Ensure you have read and agreed to the terms and conditions provided
• Scan and send a copy of the signed and duly completed form to diasporabanking@familybank.co.ke

Follow the steps below to open an account:

• Download the account opening form(s)
• Complete the application details
• Upload and scan a copy of the filled out form and the required documents duly authorized and signed via email to diasporabanking@familybank.co.ke
• If you filled hard copy form, send scanned documents in PDF format to diasporabanking@familybank.co.ke
• Family Bank will open the account and notify you regarding your account status

Scan and send all documents in PDF format to: diasporabanking@familybank.co.ke

Send all hard copies to the following address:

Family Bank Limited

Diaspora Banking - Family Bank Towers

P O Box 74145-00200

Nairobi, Kenya

Read the Mkenya Daima Checklist

A KRA PIN is a personal identification number which identifies you for purposes of transacting business with the Kenya Revenue Authority, other Government agencies and service providers. For more information, visit the Kenya Revenue Authority website.

The Foreign Account Tax Compliance Act (FATCA) is a U.S. law intended to promote better tax compliance by ensuring that U.S. persons (citizens and residents) with assets held outside of the U.S. are compliant with U.S. tax laws.

• Request for Taxpayer Identification Number and Certification
• Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities)
• Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals)

Our Diaspora accounts can be opened in KES, EUR, USD or GBP currencies. The benefit of opening an account in a different currency other than KES is that you would have control when you would like your funds to be converted, since they remain in the account in the currency they are remitted in.

We have several investment options, which include:

• Trading in the stock market – you can trade in the stock market as long as you have a CDS account and valid Family Bank account
• CBK treasury bills and bonds – We help you apply for CBK bonds, dissemination of successful applications and payment for successful bonds are done
• Fixed and call deposit accounts – We offer competitive interest rates on these accounts

To qualify for diaspora financing, the following requirements must be fulfilled:

• You must be residing abroad
• Have an active Family Bank account
• Pay slips for the last 3 months
• Letter from employer confirming employment status (whether on permanent or contract basis)
• Spousal consent – form provided by Family Bank
  • If single – sworn affidavit (notarized)
• Bank statements for the last 6 months on your salary account
• KRA PIN
• Copies of your Kenyan ID and passport
• 2 passport size photos
• Provide a sale agreement witnessed by a lawyer (It is advisable to appoint a power of attorney in Kenya to sign on your behalf)
• Copy of title to property being purchased/charged (notarized)
• Valuation report with photographs of property being financed and/or charged together with certificate of official search from Land Registry (this will be carried out after assessing applicant)
• Filled in insurance form (to be provided by Family Bank)