Back-to-School Runaround: Are You Wasting Hours and Money on Unnecessary Financial Circles?

It is back-to-school season, and Brian has a list that seems to get longer every time he looks at it.

Two uniforms. Shoes. Books. A school bag. Stationery. Then there are school fees to clear before his child reports. His first thought is simple: I need cash.

So, Brian heads to an ATM. From the ATM, he goes to the uniform shop. Then the supermarket. Then the shoe shop. After shopping, he remembers the school fees. Another trip follows.

By lunchtime, Brian has spent hours moving between ATMs, shops, payment points and the school. The actual shopping was straightforward. Paying for everything is what created the runaround.

For many parents, this is an overlooked part of the back-to-school cost. We tend to calculate what the uniforms, books and fees will cost, but rarely calculate the time and money spent accessing cash, travelling to payment points and queuing to complete transactions.

The smarter approach is to make payment part of the journey, rather than creating another journey just to access your money.

How to pay for back-to-school shopping using Equity

You do not necessarily need to be an Equity customer to pay through an Equity merchant. An Equity Till can accept payments from both Equity and non-Equity customers, making it possible to pay participating merchants directly instead of withdrawing cash first.

For Equity customers, available payment options include the Equity Card, Equity Mobile App, Equitel and *247#, depending on the transaction and merchant.

If you have an Equity Card, you do not need to withdraw cash before heading out for back-to-school shopping. You can pay directly by swiping or tapping your Equity Card where card payments are accepted.

How to pay an Equity Till using M-Pesa, Airtel Money

You can pay an Equity merchant Till from Safaricom M-Pesa using Equity’s cross-platform payment route. Here is how:

1. Open the Safaricom SIM Toolkit or dial *334#.
2. Select Lipa na M-PESA.
3. Choose Pay Bill.
4. Enter 247247 as the Business Number.
5. Enter the merchant’s Equity Till number as the Account Number.
6. Enter the amount you want to pay.
7. Enter your M-Pesa PIN and confirm the transaction details.

If you are using Airtel Money, you can pay an Equity merchant directly through the Airtel Toolkit or USSD. Here is how:

1. Open the Airtel Toolkit or dial *334# on your Airtel line.
2. Select Airtel Money or Make Payments.
3. Choose Pay Bill.
4. Enter 247247 as the Business Number.
5. Enter the merchant’s Equity Till number as the Account Number.
6. Enter the amount you want to pay.
7. Enter your Airtel Money PIN to confirm the transaction.

How to pay school fees through Equity

School fees payment should not be the source of unnecessary travel during the back-to-school season.

Equity customers can use available Equity channels, including the Equity Mobile App and *247#, to make school-related payments where the school supports the relevant payment option.

For other customers, payments to Equity can be made using the playbill number 247247, then input the relevant number e.g. school account number + Admission number, input the amount, then the PIN and send your request.  You will then get a confirmation SMS from Equity Bank, which you can present to the school. Parents can also pay school fees through Equity Agents if the school has an Equity account.

The important thing is to check the payment instructions provided by your child’s school before making the transaction. Use the school’s designated account or collection details to ensure the payment is correctly allocated.

Where a school accepts card payments for fees, the same applies. You can pay directly using your Equity Card rather than withdrawing cash and making a separate trip to a payment point.

What if you need extra money for back-to-school?

Planning your payments can reduce unnecessary movement, but some families may still need additional funds to meet school-related expenses.

Eligible customers can access Equity financing solutions such as Boostika, Equiloan and other applicable credit options, subject to the relevant eligibility requirements and terms. The important principle is to understand the cost of borrowing before taking credit and only borrow what you can comfortably repay.