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Options

01 Aug

Whenever you send money to Kenya, you are most probably looking for convenience, speed and ease of service; reliability and probably more importantly, options. You want to evaluate each of the many options you have before you make any decisions. In this regard, new media technology has brought with it a wide array of constantly evolving options which you need to be aware of.

Whereas many years ago, banks were the only reliable method to carry out international money transfers, now there are many other cheaper and faster options available such as online providers, MTOs, prepaid cards and even by SMS. Over the next couple of days we will explore the different  money transfer providers, different options to transfer money and how they work

Money Transfer Operators (MTOs)

MTOs are companies that only offer money transfer services, usually through agents, and only send money between countries. They do not generally require you to open an account and are usually easy to find in high streets, where they can be located in various locations from post offices to hairdressers. You will need to fill in forms and provide identification to send your money. Some also offer online money transfer services and are also developing mobile phone transfers.

We will look at some of the other options available to remit money over the next couple of days.

 
 

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