How to Send Money to Kenya: Bank Transfer vs Mobile Wallet

When considering sending money to Kenya, many face an important question:
Should I choose a traditional bank transfer or send money to a mobile wallet like M-Pesa?
In this comprehensive guide, we compare both methods in terms of speed, cost, accessibility, and convenience—helping you make the best decision.


 

First: Bank Transfers to Kenya

How Does It Work?

• You send money from your bank account or via a money transfer company to the recipient’s account at a Kenyan bank.
• You will need: the recipient’s full name, bank name, branch number, and bank account number.
• You can complete the transfer online or by visiting a branch.
   

Advantages:

• High Security: Regulated by strict financial authorities.

• Ideal for Large Amounts: Suitable if you are sending a significant amount.

• Direct Access to Bank Accounts: Useful for recipients who actively use banking services.
   

Disadvantages:

• Speed: Takes hours to several days.

• Fees: Relatively high, with less competitive exchange rates.

• Limited Access: Not all Kenyans have bank accounts, especially in rural areas.

Second: Mobile Wallet Transfers in Kenya

What Are Mobile Wallets?
They are digital accounts linked to a phone number, allowing users to send and receive money via mobile devices. Popular examples include M-Pesa and EquitelSteps to Transfer:

1. Choose a service that supports wallet transfers (e.g., Xoom, Akaaf, Towb).

2. Select “Mobile Wallet” as the delivery method.

3. Enter the recipient’s wallet number (e.g., M-Pesa number).

4. Pay using a debit/credit card or bank transfer.
    

Speed:
Almost instant, with immediate notifications to both parties.

Limits:

Note: Daily limits vary by provider.

Fees:

• Lower than bank transfers.

• The recipient does not pay to receive funds, but there may be fees for cash withdrawals.

Advantages:

• Instant speed.

• Easy accessibility, even in rural areas.

• Lower costs.

• Widely used among Kenyans.

Disadvantages:

• Lower transfer limits compared to banks.

• Potential withdrawal fees.

• Daily or monthly balance limits

Quick Comparison Table

Smart Recommendations for Sending Money to Kenya

Use M-Pesa or Equitel for fast, low-cost transfers (especially for small to medium amounts).

Choose bank transfers for large amounts or if the recipient prefers receiving into a bank account.

Use trusted services such as Towb, Akaaf, Western Union, and XE.

Always double-check recipient details (name, number, account/wallet).

Monitor transfer limits to avoid failed transactions.