WorldRemit teams up with KCB to boost instant money transfers to Kenya

The partnership aims to support the demand for instant, digital remittances among more than 3 million Kenyans currently living abroad.

Kenyans living around the world can now make instant money transfers to be collected at KCB branches across the country.

Later stages of the partnership will enable instant international transfers to KCB bank accounts, a further move towards full digitisation of the Kenyan economy.

In the first half of 2016, WorldRemit passed the one million money transfers to Kenya mark. Customers send more than 65,000 transfers to the country every month from the WorldRemit app and website.

Remittances play a very important role in Kenya’s economy – inward remittances reached a record value of USD 146.76 million in May 2016, according to the Central Bank of Kenya, making it one of the nation’s top earners.

Globally, WorldRemit customers send more than 580,000 transfers every month to more than 140 destinations.

Diaspora customers currently access KCB Bank’s premium banking centres (KCB Advantage Centres) when in East Africa. They can access their accounts 24/7 from anywhere in the world using Visa Branded debit cards, internet banking and the mobile banking app.

SMEs also enjoy the ability to operate multi-currency accounts in major currencies besides KES: SA Rand, USD, GBP and Euro.