7 Cheque Discounting Companies In Kenya

    January 05, 2017   No comments

Cheque cashing points in kenya
Cheque Discounting also called Cheque Cashing helps Kenyans access immediate cash from lenders against current or post dated cheques.The cash obtained is normally lower than the cheque face value.The dueducted amount ranging between 3 percent to 10 percent acts as commission.

An individual or a company may seek cheque discounting services to settle emergencies. Some commercial banks do give cheque cashing services but to only individuals or businesses who opened bank accounts with them.The banks I know currently are ABC Bank,Faulu MFB,Equity Bank,DTB and Family Bank.

What will happen if you wanted to cash a cheque and you don't have a bank account with any of the banks mentioned above?Don't panic because I have already found 7 credit-only(non deposit taking) Cheque Cashing companies for all.

1.Mwananchi Credit 

Mwananchi Credit Limited gives quick cash against current and post dated cheques at a competitive commission rate

Contacts

Pension Towers Mezzanine2,Lolita Street,Nairobi OR Eco bank Towers 2nd floor,opposite Six-Eighty Hotel,Muindi Mbingu street, Nairobi.
Call:020 2221882,0701 396 027,0731 888 825

2.Jijenge Credit

Jijenge Credit Limited purchases current cheques issued to individuals by reputable companies at a favourable commission.

Contacts

0722 843 770 or 0717 282 727

3.New Bridge Capital

New Bridge Capital accepts individuals' current and post dated cheques drawn by reputable companies in exchange for cash at a competitive commission.

Contacts

New Bridge Capital Ltd|Tigoni Acceptances Ltd,Auto Galaxy compound, Opposite Kwacha House Westlands Nairobi.
Call:020 4400477

4.Discount Capital Ltd

Discount Capital will discount current and post dated cheques for businesses only and must be drawn from reputable companies.

Contacts

International Life House, Mama Ngina Street, Nairobi.
Call:0713 383 855

5.Metropol Capital

Metropol Capital will pay cash against current cheques from reputable companies at a favourable commission.

Contacts

Tom Mboya Street,Nairobi
Call:020 2224290 or 0710 145 166

6.Leaston Credit

Leaseton credit cashes current cheques for individuals drawn by reputable companies.

Contacts

Trance Towers ,5th floor,Tsavo Road,Off Mombasa Road.
Call:0700 867 053


7.FSI Capital

This microfinance company gives out 97% of the current cheque face value as cash.This means they charge a 3% commission.

Contacts

Eco Bank Towers,8th floor,Muindi Mbingu Street,Nairobi.
Call:0792 788 956 or 0792 788 959

As usual,if there are other Cheque Cashing Points I left out,just add them as comments.


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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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