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