5 Safe Ways To Send Money to Kenya From Abroad
Kenyans in the diaspora have to experience a tiresome process when they send money to Kenya. There have been a few avenues to channel funds into Kenyan Economy.
Kenyans working in the USA, UK, QATAR, and all over the world, have continuously been investing in properties in Kenya.
At times, the properties are for immediate development for their family homes while others are reserved for future investments.
Before the advent of technology, some would send liquid cash to invest in land to trusted friends and family members via courier services.
The growth of technology has brought numerous platforms where Kenyans living abroad can buy land in Kenya directly. This ranges from booking plots online to sending money directly to bank accounts of the real estate companies in Kenya.
A quick survey across thousands of Kenyans Username Investments has helped own land in Kenya while abroad, reveals some of the ways commonly used to send money to Kenya to buy land.
However, not all money transfer services are available in every country, but in case one is not available one can consider using the available platform.
Below are some of the platforms you can use to send money to buy a property in Kenya
Wave
This is a common platform that enables the transfer of money from Canada, the USA and the UK to African Countries. The mobile form application is available for all devices.
The advantage of this platform is that it enables users to send money back home in their home currency.
For example, if you send the money in dollar/pounds currency it is received in Kenyan Shillings.
Setting up the account on phone is easy and straight forward and this has made money transfer to Kenya easier for those investing in plots.
Bank to Bank
This is another safe method to send money home to invest in a property. There are two main types;
Inter-bank Transfer
This is basically transferred across banks. It involves sending money from one account to another different one in your home country. At times, this may take a longer period of time before the funds reflect in the recipients’ bank account.
Intra-bank Transfer
This involves transfers within the same bank. For example, the investor can have a bank account where the real estate company also has an account either in Ksh or Dollar or Pounds.
It is advisable to use transfer amounts in the same currency to avoid incurring foreign exchange expenses.
You can consider using any of the above and your money will reach your investment company such as Username Investments safely.
Bank to Mpesa
The rise in the use of mobile money transfers both locally and globally has been a game-changer. In some countries, some investors experience challenges sending money to Kenyan banks locally.
However, this should not limit you from investing. You can send money from a bank account abroad to a Mpesa number locally.
A company such as Username Investments has a provision of allowing those unable to send money to the company accounts while abroad to use a specific phone number and a receipt of payment is issued.
Nevertheless, this number is only given on a case-to-case basis as these instances only affect very few clients who are abroad.
Word Remit
This is another fast, easy, secure online money transfer to a local bank from abroad. Just like Wave, this allows one to send money in any currency and it is received in-home currency, in this case, Kenyan Shillings.
If you are looking forward to investing in a property in Kenya, consider making your payments using World Remit.
Poapay
This is another platform that allows Kenyans abroad to send money in a quick and cost-effective method. The application allows you to send money directly to your investment company just like the other apps.
In conclusion, it is advisable to check the most convenient platform for you before sending money to prevent the inconvenience that comes with delays.
Also, always share a confirmation message of the transfer done for records. This will also make it easy for the investment company to write a receipt for your payments.
Lastly, investing in the 21st Century inland is now easier for anyone living and working abroad. Take advantage of this technology and invest in your retirement home.
Hey, how was your experience when sending money to Kenya, did you encounter any challenges?. Let us know in the comment section.