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Top 3 Money Transfer Providers for UK to Kenya

Provider Amount Received Fee Exchange Rate Speed
WorldRemit WorldRemit KES 33,605.56 No Fee 168.0278 0-0 days more...
Azimo Azimo KES 33,742.73 No Fee 168.7136 1-5 days more...
MoneyGram MoneyGram KES 32,598.25 £5.00 162.9913 more...
FXcompared Country Guides
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
Kenya keeps tight control over its foreign exchange resources, but abandoned its exchange controls in 1993 Read More

UK Money Transfer Guide

Daniel Webber
Daniel is Founder and CEO and has 20 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely quoted as an expert within the money transfer industry including by The Economist, The Wall Street Journal, Reuters, CNBC and Bloomberg. Daniel is passionate about helping consumers and businesses find the best and most efficient ways to transfer money internationally.

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Each provider goes through a full vetting and is regulated by the relevant authority (FCA in the UK, FinCEN in the USA, ASIC in Australia)

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  • Summary
  • Kenya’s money transfer regulations
  • Kenya’s regulatory authority
  • Kenya economic background
  • Currency
  • Summary

    Kenya keeps tight control over its foreign exchange resources, but abandoned its exchange controls in 1993. The Kenyan shilling (KES or KSh) is maintained on a free-floating exchange rate, and money transfer to Kenya or sending money out of Kenya is not restricted. The Kenyan government has also ensured that international business payments are easy to make to support foreign investment.

    Kenya’s money transfer regulations

    The shilling floats freely and is fully convertible to foreign currencies, the government imposing very few restrictions on capital flows. The central bank reserves the right to intervene in the monetary market to avoid price volatility, but it refrains from intervening except in the case of disruptive changes in the market.

    All foreign exchange dealers, including commercial banks and forex bureaus, are licensed and regulated by the central bank. As of September 2014, the central bank counted 94 licensed forex bureaus, most of which are located in the capital, Nairobi. Bureaux deal primarily in smaller cash exchanges, while larger transactions are handled by the commercial banking network. Under its Foreign Investment Promotion Act (FIPA), the government ensures that foreign investors are free to repatriate capital and transfer other investment income abroad, including profits, dividends and interest. Kenya’s anti-money laundering and terrorism financing legislation requires transfers over a value of KSh500,000 to be declared to customs authorities. There are no restrictions on the amount of cash that may be brought into the country, but travellers may carry a maximum of KSh100,000 out of the country at one time.

    Kenya’s regulatory authority

    The Central Bank of Kenya (CBK) conducts national monetary policy so as to ensure the health of the financial system, preserve a healthy level of foreign exchange reserves, and maintain price stability.

    Kenya is a founding member of the East African Community (EAC), a regional association established in 2000 that also includes Tanzania, Uganda, Rwanda and Burundi. EAC members benefit from a customs union, common market and double taxation treaties today; in November 2013, member countries signed a protocol to develop a regional monetary union, which is expected to lead to the adoption of a common currency in the next 10 years. In the buildup to a full union, regional governments are strengthening the coordination of their fiscal and monetary policies. Progress has been slow, however, and the propsect of a common currency remains distant.

    Kenya economic background

    Kenya’s economy, the largest in East Africa, relies on foreign exchange receipts from tourism and from agricultural and horticultural exports, primarily tea, coffee and cut flowers. The country also benefits from the largest and strongest banking sector in East Africa. Significant hydrocarbon resources have been discovered in recent years. Their develop will likely have a transformative impact on the economy, but this remains several years away.


    Kenya’s monetary unit, the shilling (KES), is abbreviated to KSh. One shilling is equivalent to 100 cents. The Central Bank of Kenya issues banknotes in values of KSh50, KSh100, KSh200, KSh500 and KSh1,000, and coins in values of 50 cents and KSh1, KSh5, KSh10, KSh20 and KSh40.

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    Western Union

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    More InfoLess Info is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.