Money Transfers to Kenya: The Best Practice

As time goes by, borders dividing countries seem to be fading away. That’s why we’re seeing people move to other parts of the world for business or education. Today, many Europeans seem to be fascinated with business opportunities and the lifestyle of African countries, especially Kenya.

Inevitably, it means they need a money transfer service to keep their business and education flowing. However, many are reluctant to wire funds via banks because they charge hefty fees and take forever to send the money. But the question is, “how do you choose the best one?” Here below, we’ll provide you with the top three money transfer companies to Kenya. 

Wise (Formerly TransferWise)

Wise is a traditional, safe choice for online money transfers. It supports a wide range of currency pairs and countries, including Kenya, making it a suitable candidate for sending money overseas. Wise charges transparent fees and doesn’t add any margin to its cost.

That being said, you still need to pay £2.7 + 1% of the transfer amount. In terms of the exchange rate, If you send £100 to Kenya, your family member or business partner will receive 14,843 KES, a bit lower than the market norm. You can send money with various methods, including credit/debit cards, and the money will arrive in Kenya after 2-3 days.

Small World

The next option on the list is Small World, not nearly as well known as Wise. Still, it’s a top-rated service for money transfer to Kenya because it specialises in Asia, South America, and Africa. With Small World, you get competitive rates and don’t have to deal with any hidden fees.

But, the whole transfer process can drag on a bit, and customer support is not always available. For a money transfer to Kenya, you need to pay a £1.99 fee, but a £100 will convert to 15,062 KES, better than Wise. Plus, the delivery timeframe is usually 2-3 days for international transfers.

Lycaremit

Lycaremit is also another popular service that has been in the remittance game for almost seven years. A significant upside to Lycaremit is the uniqueness of its features and offerings. For example, in addition to charging minimum, transparent fees, Lycaremit is one of the few companies with 24/7 customer support. If you use Lycaremit for a money transfer to Kenya, your £100 will convert to 15,480 KES, the highest rate on the market. In addition, Lycaremit will secure every transaction with RSA 256-bit encryption. Not many money transfer companies can give you what Lycaremit offers.

Bottom Line

The costly, laborious process of banks and other traditional transfers have turned many people off. Therefore, many have decided to use money transfer exchanges because they are cheaper, faster, and support various payment/pickup options. With all the options available, it may be confusing to figure out the perfect one.

Some companies act fast but lack transparency. Some are transparent and fair but take forever to send the money. Here, Lycaremit can give you the best of both worlds. Not only does Lycaremit offer you speed, security, and 24/7 customer support, but it also provides you with transparent fees and top exchange rates. Therefore, contact us right away and let Lycaremit help you with wiring funds to Kenya.

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