How To Exchange Money In Kenya

When it’s time to convert cash for trips abroad, many people only think about currency exchanges. However, the exchange rate is also highly significant whenever you send money to Kenya because it will tell you how the value of your current currency stacks up against Kenyan shillings.

How To Exchange Money In Kenya

Kenyans who are abroad may be able to convert Kenyan shillings to the local currency in a number of ways. You could:

  • Purchase local currency over the counter at a currency exchange or bank
  • Convert the Kenyan shillings online and have the banknotes and/or coins posted to you
  • Use your Kenyan debit or credit card at local ATMs

Many people abroad tend to look to currency exchange desks to purchase local money. They aren’t hard to find, after all, and you can often simply turn up and make your request, or order the currency online. Banks, too, are a traditional go-to for travellers. The possible drawback with these options is that you may end up spending a large amount on fees.

Similarly, while using your bank card to make purchases or draw cash at local ATMs is a lower-effort way to pay your way in another country, this may incur international bank charges that can get very steep very quickly. All in all, you might think of opening a bank account in the country if you’re staying for an extended length of time.

How to Convert to shillings: Sending money to Kenya

When you’re converting GBP, USD, EUR, or any other currency to KES, you have a choice. You can make the transfer through your bank, or use a money transfer company. Let’s consider these in turn.

Bank: On the face of it, sending money to Kenya through your bank is an obvious solution. Your money is already sitting right there in your bank account, and all you’ll have to do is instruct the bank to make the remittance, with no need to set up an account with another company. What you should keep in mind, however, is that this may not be the cheapest way to send money abroad.

Money transfer company: By doing some research online, you may see that using a dedicated remittance company could be the right choice. Companies that are based entirely online can be a particularly good choice. They don’t have to spend lots of money on brick-and-mortar premises, which means they can often afford to offer their customers lower transfer fees and highly competitive exchange rates.