USD to KES

About USD and KSH

It is easy to send money from US to Kenya whether it is for business purposes, trade deals, sending money to relatives residing in Kenya or giving out a token to a loved one. Kenya boasts the largest GDP in East and Central Africa. This makes it much easier to send money to the country.

You need to compare the exchange rates as well as the transfer fees of the various options you have. This is what we have done for you here at Exchange Rate IQ. Find out how we reveal the various options that you can use when sending money from the US to Kenya.

Best way to send money from the US to Kenya

Banks Transfers/Deposits

Despite banks offering relatively more transfer fees as compared to other money transfer options, they are reliable. This is because they are safe and keep track of your money with the guarantee that it will reach its destination on time.

You, however, have to look at the exchange rates and the various fees charged between the banks and choose which one fits you best. If you are lucky that you and the recipient share the same bank that operates in both countries then you can count yourself luckier.

Direct Money Transfer Service Providers

These include services companies like Western Union and Travelex that offer better rates than banks but slightly more costly rates than the affordable money transfer companies. These services are fast and can convey your transfers within 10 minutes or less.

Online Money Transfers Companies

There are a lot of money transfer companies that you can use when transferring your funds from US to Kenya. Such are XE Money Transfers, Xoom, World Remit, Remitly and Money2anywhere that offer different rates to suit your preference. These companies offer more affordable rates than most banks do and are a good outlet if you want to cash out.

Post Office

Post offices are common in Kenya and enable your recipients to receive money easily. They are however relatively costly as compared to money transfer agencies. With the impact of online money transfer services and mobile money transfer services like M-pesa, post offices are becoming less popular way for transferring money from US to Kenya.

6 Things to consider when sending money from US to Kenya.

You should look at several factors when choosing the best transfer option to send your money from the US to Kenya. These are:

• Hidden fees: You should ask whether the provider charges a flat fee or a percentage of your transfer plus if there is any other hidden fee. Many people don’t have a problem with paying for money transfer but the hidden charges can cause a great inconvenience. 
• Method of Transfer: Some of the common methods of transferring money from the US to Kenya are through banks, online, mobile apps or well-known agent locations.
• Hedging options: This method involves scheduling your payments ahead of time or even protecting your transfer against market fluctuations with a forward contract or a limit order.
• Transfer speed: You need to consider how much it takes for your transfer to reach its destination. Companies like Western Union take a matter of minutes to deliver your cash. Independent providers take more time to convey your cash, but you will have to sacrifice the time it takes.
• Transfer limits: Providers offer relatively low rates when transferring large amounts of sums as incentives for more and large transactions. Your best option depends on how much you want to send.
• Customer Service: The support you need when making your transactions matters a lot.