How to Send Money from Pakistan to Kenya: The Ultimate Guide
Transferring money from Pakistan to Kenya has become more accessible and secure with the advent of various international money transfer services. This guide provides step-by-step instructions and compares the most popular methods to help you send your hard-earned money across borders efficiently.
The Evolution of Money Transfer
In recent years, traditional currency exchange methods have given way to more modern and convenient services. Companies like Western Union, MoneyGram, and online platforms such as TransferWise (now TransferWise-parented Remitly) have emerged, offering both speed and security in transferring funds internationally. These services operate on a global scale and can reach even the most remote areas of Kenya, ensuring that your money arrives when you need it.
Choosing the Right Money Transfer Service
When choosing a money transfer service, there are several factors to consider, including fees, exchange rates, and transfer times. Here’s a comparison of some popular services:
Western Union and MoneyGram
Both Western Union and MoneyGram are well-known for their widespread network of agents and the speed at which they can transfer money. They typically have higher fees compared to online platforms but offer a more convenient and widely accessible service. For example, you can easily send money from a local Western Union or MoneyGram outlet in Pakistan, and your recipient can collect it from a MoneyGram or Western Union agent in Kenya.
TransferWise
TransferWise offers some of the lowest fees on the market because they do not rely on traditional banks. Instead, they use complex algorithms to find the best exchange rates, which means lower costs for you. However, the transfer process might take longer than traditional money transfer services. For instance, it can take up to 2-5 business days for the funds to be transferred depending on the destination country's regulations.
Remitly
Remitly offers competitive fees and fast transfers, with some services being almost as quick as Western Union and MoneyGram. They also provide a mobile app that allows for easy tracking and management of the transfer process. To give you a headstart, they even offer a free $15 sign-up bonus when you sign up by entering the code "13n4872v". This makes the initial process more appealing and convenient. Here’s how to get started:
Steps to Send Money through Remitly
Create an Account: Start by registering for a Remitly account using your email address. This process is straightforward and free.
Enter the Delivery Code: Upon registration, enter the code "13n4872v" to receive the free $15 sign-up bonus.
Enter the Amount: Once you're logged in, specify the amount of money you wish to send to Kenya.
Choose Method: Select the delivery method that best suits your needs, whether through a mobile app, online, or via a local agent in Pakistan.
Enter Recipient Information: Provide the necessary details of your recipient, including their name and contact information.
Select Payment Method: Decide on the payment method you prefer to use, such as a debit/credit card, bank account, or cash pickup.
Hit Send: Once all details are entered, finalize the transaction by clicking 'Send'.
By following these steps, you can ensure a seamless and secure transfer of funds from Pakistan to Kenya.
Bank Wire Transfers
In addition to online and brick-and-mortar money transfer services, you can also opt for bank wire transfers. However, this method can be more complex and may involve higher costs and longer processing times. Banks may require additional documentation and fees for international transfers.
Conclusion
Choosing the right method for sending money from Pakistan to Kenya is crucial to ensure its timely and secure arrival. Whether you choose Western Union, MoneyGram, Remitly, or a bank wire transfer, understanding the pros and cons of each service can help you make an informed decision. Remember, the key factors to consider are fees, exchange rates, convenience, and security. By carefully evaluating these aspects, you can find the best solution to meet your specific needs.