Send Money to Kenya

Western Union
Margin Rate: 4%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
CurrencyFair
Margin Rate: 3%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
VoltrexFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
RationalFX
Margin Rate: 0.8%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Kenya

Send money transfer to Kenya

While the Kenyan authorities reserve the right to intervene in the countries exchange markets in effect the country has been free of exchange controls since 1993. As such there are no restrictions on transfers to and from Kenya. The government has sort to overhaul its handling of business transactions in order to support foreign investment in the country.

For simple transfers to Kenya, there are different options available:

Provided the recipient has a bank account in Kenya a bank transfer will be the easiest method of sending cash. All institutions including banks that operate in foreign exchange markets are regulated by the Kenyan authorities.

If you want to send cash without using your bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. Until 2003 these services were unlicensed in Kenya and operated under a system called ‘hawala’. This was outlawed to curb money laundering and prevent transfers to terrorist organisations. These establishments found in major cities around the world and they allow you to transfer money to Kenya. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online. Once this procedure is done, the recipient can pick up the money at another office simply by showing his or her own ID. With the transaction number you receive, you can track the status of your transfer online.

Bank Note System
The Central Bank of Kenya issues banknotes in values of KSh50, KSh100, KSh200, KSh500 and KSh1,000, and coins in values of 50 cents and KSh1, KSh5, KSh10, KSh20 and KSh40.

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