TransferWise[Wise] in Kenya: How Does It Work?

TransferWise is an international money transfer service that allows you to send money from one country to another without paying high fees. Find out more about this fantastic new way to move money worldwide!

TransferWise[Wise] in Kenya: How Does It Work?

TransferWise is a new online money transfer service that lets you send money internationally for free. It works by connecting you directly with local banks in over 200 countries and territories worldwide.

How does it work?

Started as TransferWise money transfer in 2011, Wise is different from other money transfer services because it connects you directly with local banks. This means that when you use TransferWise, you will not pay any fees. You need to provide your bank account details so the platform can make the payment.

The company claims that sending money abroad has never been easier. You enter the amount you want to send, choose from one of three available currencies (USD, GBP, EUR), and then select the country where you would like to receive the funds. Once you've entered your information, you can pay using either PayPal or a credit card.

You can use its site or app to find the best rates available from participating banks, then choose which one you want to use to complete your transaction. Once you've selected your bank, you can enter the amount you wish to send, choose the currency you want to receive, and click 'Send Money Now.'

 If you're looking for a fast and easy way to send money overseas, TransferWise might be the answer. It is available in plus 80 Countries

 

Is it safe?

TransferWise has been operating for more than ten years and has grown into a global company with offices in London, New York City, Singapore, Sydney, Hong Kong, Tokyo, and Mumbai. They also offer its services across all platforms

The company claims that it has saved customers $1 billion since launching. And while other services offer similar features, TransferWise offers something unique: it allows users to send money abroad without paying fees. In short, Transferwise is the number one company that you should trust.

Can I use it with my bank account?

You can use TransferWise with any major Kenyan bank account (including KCB, ABSA, Standard Chartered Bank of Kenya, Equity Kenya, Family Bank, and Cooperative Bank of Kenya). However, you will need to open an account with them first. Once you do, you can then link your existing accounts to TransferWise.

Using Transferwise To Send Money To M-Pesa

Follow these instructions if you need to send money quickly to an M-Pesa account on Transferwise:

  •  Register with Transferwise
  • Add funds to your account if you want to send them directly from your account
  • Select "Send."
  • Decide whether you want to transmit using your Transferwise account or another service (debit card, PayPal, bank transfer, etc.)
  • Enter the amount to send
  • Select the recipient or enter a new one.
  • Click "Confirm and submit" after reviewing your transfer information.
  • Mpesa will send both you and the recipient to confirm the transaction

 How much will it cost me?

There are no hidden charges when using TransferWise. They charge just 0.5% per transaction plus £1.50 for sending up to £200. This means that you pay a flat rate of 1.05%.

How long will it take to get my money?

You should receive your funds within five business days. If you need your money faster, don't hesitate to get in touch with them at support@transferwise.com.

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