How Equity is addressing fraud

Fraud instances targeting banks have spiked in recent months and Equity Bank has not been left out. But it faces the greatest ire in the public as many of their instances are raised online, which however get solved by refunding customers their monies.

The bank has christened itself as mwananchi, with its roots embedded in a building society and this has seen it more closely associated with the downtrodden, sneaking through the remotest of locations, capturing every bankable individual.

This has seen the old, often vulnerable, banking with them, providing the fodder for young, energetic and tech-savvy people to pounce on them. They have succeeded in creating pain to customers, dirtying the bank’s name, and running away with thousands, if not millions. For some, their 40 days were nigh, while others remain at large, looking to pounce on their next catch.

But as they continue to create havoc, the bank has been instituting security measures to address the menace.


The bank upgraded the EazzyBanking App, introducing a one-time PIN (OTP) ensuring customers will receive a verification code sent to their registered mobile number for every transaction they initiate. This is in-line with what is often called a two-step verification that is globally used on emails and social media accounts.

In addition, customers can log in using their fingerprint for devices that support biometric authentication. It is an additional option of using a PIN for login. One just needs to update or download the EazzyBanking App.


On Equitel, customers need to reconfirm a transaction before finalizing it. At the final leg of a transaction, Equitel prompts you to confirm a transaction by typing 1 TO SEND and typing 2 TO CANCEL. This is synonymous with Safaricom’s “hakikisha” that indicates the name of the receiver before you send monies to them.


To log onto the EazzyNet channel of banking, which is basically internet banking for retail customers, one gets a One Time Pin (OTP) that they use to be able to transact successfully. The OTP is sent to the mobile number registered at the bank.

ONE Equity Number

It launched ONE Number that customers will be receiving communication from. The phone number, 0763 000 000 will allow them to reach customers 24/7.

The rollout of the One Equity number is part of the Bank’s recent rebranding, where Equity now presents itself as a unified brand, a one-stop-shop offering integrated financial services under one roof.

All Equity staff, whether it is your branch manager, relationship manager, account opening officer, credit or loan officer, insurance officer, agriculture officer, procurement manager, investment advisor, shares buying or selling, they will ALL call you using one number; 0763 000 000.

In addition, official bank notification SMS will only come from Equity or Equitel.

However, customers can talk to them 24/7 by calling 100 if using Equitel, or 0763 063 000 from any mobile network.

It is important for customers not to receive instructions on phone through a phone call or SMS from people purporting to be Equity Bank staff to commit any banking transaction on your phone. If you receive such a call or SMS, report by forwarding that number to 333 immediately. You can also visit the nearest Equity branch or Equity Agent for assistance.

If you receive an SMS that is not from “EQUITY” or “EQUITEL” and you suspect to be fraudulent, report by forwarding that SMS and number to 333. Always remember, your PIN is your secret. No Equity staff will ever call to ask for your PIN.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.