NAIROBI, Kenya, May 9 – Faulu Microfinance Bank has officially joined the Kenya Bankers Association (KBA) clearing house, a key step in enhancing transaction efficiency for its customers across the country.
The move follows the bank’s integration into the Automated Clearing House (ACH), a system developed in partnership with KBA and the Central Bank of Kenya (CBK) to streamline interbank payments.
With the integration, Faulu customers will benefit from faster money transfers, reduced cheque clearance times, and improved processing of bulk payments.
Local cheques will now be cleared by the next working day, while foreign cheques in currencies such as the US dollar, Euro, and British pound will be processed within two working days, an improvement from the previous waiting period of up to three weeks.
Faulu CEO Julius Ouma said the upgrade reflects the bank’s commitment to offering modern, reliable banking services.
“These improvements are about giving our customers more control, more convenience, and more confidence in their day-to-day banking,” he said.
The bank also expects the changes to support institutions such as schools, churches, and county governments by making bulk payments more seamless.
