How to Save Money on International Transfers to Kenya

Every dollar saved on fees is another dollar in your family's pocket. Here are practical strategies to minimize transfer costs.

Strategy 1: Choose the Right Provider

Cost Ranking (Best to Worst)

For typical $500 transfer:

1. Wise: ~$5-8 total cost (1-1.5%)
2. Sendwave: ~$7-10 total cost (1.5-2%)
3. Remitly: ~$10-15 total cost (2-3%)
4. WorldRemit: ~$12-18 total cost (2.5-3.5%)
5. Western Union: ~$25-35 total cost (5-7%)
6. Bank Wire: ~$40-60 total cost (8-12%)

Annual Savings

If you send $500/month:

Strategy 2: Pay with Bank Account

Payment Method Costs

Credit Card Warning

Many banks treat international transfers as cash advances:

• 3-5% cash advance fee
• Higher interest rate
• Interest starts immediately

Only use credit card if: You get significant rewards AND pay immediately.

Strategy 3: Batch Your Transfers

How Batching Saves Money

Instead of:

• $100 weekly × 4 = $400/month
• Fees: ~$12/month (at $3 each)

Try:

• $400 monthly × 1 = $400/month
• Fees: ~$5/month (one transfer)

Monthly savings: $7 (~$84/year)

When to Batch

Good for batching:

• Regular family support
• Non-urgent needs
• Predictable amounts

Don't batch:

• Emergency needs
• Very large amounts (risk)
• When family needs cash flow

Batching Schedule

Strategy 4: Time Your Transfers

Rate Monitoring

USD/KES fluctuates ~1-3% monthly. For a $1,000 transfer:

• 1% better rate = $10 more for recipient

How to Time

1. Set rate alerts on Wise or Xe
2. Check rate before sending (compare to recent average)
3. Send when rate is favorable if you can wait
4. Don't obsess - timing matters less than provider choice

Best Days/Times

• Avoid: Major US holidays (banks closed, rates may be worse)
• Avoid: Kenya holidays (receiving may be delayed)
• Generally good: Mid-week, mid-month

Strategy 5: Use Promotions

Common Promotions

• First transfer free: Many providers offer this
• Referral bonuses: $10-20 for you and friend
• Seasonal promos: Better rates during holidays

Stacking Strategies

1. Sign up for new provider with promo
2. Use for first transfer (free or bonus)
3. Refer family/friends for more bonuses
4. Switch providers when promos end

Current Offers to Check

• Wise: Usually no promos (already cheapest)
• Remitly: Frequent first-transfer promos
• WorldRemit: Seasonal offers
• Sendwave: Referral program

Strategy 6: Avoid Unnecessary Fees

Fees to Avoid

Hidden Costs

Watch for:

• Poor exchange rate (hidden fee)
• "Processing fee" + transfer fee
• Receiving bank fees
• Cash pickup fees on recipient end

Strategy 7: Optimize for Large Transfers

Volume Discounts

For transfers over $5,000:

Negotiating Rates

For $10,000+:

1. Contact OFX or Xe directly
2. Ask for custom quote
3. Mention competitor rates
4. Negotiate!

Large Transfer Strategy

Instead of bank wire ($100+ cost), use:

• Wise (up to $1M): ~0.5-1%
• OFX (custom rate): ~0.5-0.8%

Savings on $20,000: $150-300 compared to bank

Strategy 8: Multi-Provider Strategy

Why Use Multiple Providers

• Different providers better for different amounts
• Backup when one has issues
• Access to various promotions

Suggested Setup

Annual Savings Example

Current situation:

• Sending $500/month via Western Union
• Annual cost: ~$300 in fees/bad rates

Optimized approach:

• Switch to Wise: Save $200/year
• Pay with bank account: Save $24/year
• Batch weekly to monthly: Save $84/year

Total annual savings: ~$308

That's an extra $25/month for your family.

Quick Wins Checklist

Immediate actions to save:

• [ ] Switch from bank wire to Wise/Sendwave
• [ ] Change payment from card to bank account
• [ ] Sign up for new provider with first-transfer promo
• [ ] Refer family members for bonuses
• [ ] Set up rate alerts
• [ ] Batch small transfers together
• [ ] Compare providers before each large transfer

Common Mistakes

Mistake 1: Loyalty to Expensive Provider

"I've always used Western Union" costs you $200+/year. Switch.

Mistake 2: Choosing by Fee Alone

$0 fee with bad rate > $5 fee with good rate. Calculate total cost.

Mistake 3: Rushing Large Transfers

An hour of comparison on a $10,000 transfer can save $100+.

Mistake 4: Not Using Promos

Free money is available. Use it.

Conclusion

Saving money on Kenya transfers:

1. Use Wise or Sendwave instead of traditional options
2. Pay with bank account not card
3. Batch transfers when possible
4. Compare before large transfers
5. Use promotions and referrals

Small changes add up to hundreds saved per year—money better spent on your family.

Find the cheapest way to send money with our comparison tool.