Send Money to Kazakhstan

GCEN
Margin Rate: 1.5%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
HIFX
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
IFX
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
World First
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Currency Solutions
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: Not FCA Regulated

Countries in Kazakhstan

Send Money Transfer to Kazakhstan

The Kazak currency is the Kazakhstani Tengé (KZT) although a number of sources report business done more swiftly in this largely cash based country in US dollars. There are currently no restrictions on movements in or out of the country though businesses who will seek repatriation of funds should take care. The current outflow of funds has increased dramatically and is ten times the inflow which may cause the Government to act in the future. The country ranks poorly in international measures for corruption and money laundering so care should be taken when sending cash to the country. The banking sector in Kazakhstan has also suffered significantly in the past few years. An economic crisis coupled with poor state management has left many of Kazak banks with very significant non-performing loans and risk therefore of insolvency. It is however possible to implement a wire transfer to the country provided an account is held in the country.

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. These establishments are found in major cities around the world and are extremely common across Kazakhstan. 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
Banknotes: 200, 500, 1000, 2000, 5000, 10000 Tengé

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