Are you looking for the right bank to offer your best exchange rates and forex exchange services? KCB bank is the right bank. That is why we have dedicated this article to teach you everything you need to know about the KCB exchange rate for Kenya.
KCB bank offers various services and among them, currency exchange and forex exchange.
Whether you are traveling or coming from abroad, you can exchange your money at any KCB bank branch.
The exchange (buy or sell) is over the counter; thus, it is easier.
KCB bank offers exchange services of all major currencies, including Euro, Dollar, Sterling pound, Japanese Yen, South Arica Rand, among other currencies.
You can also hold a foreign currency account with KCB either as a current, savings, or fixed deposit account.
Your account can hold Dollars, Euros, sterling pound, or south Africa Rand, among other major foreign currencies after opening the account.
Opening the account comes with its advantages; it can deposit up to 1,000 USD and withdraw the foreign currency, but at selected KCB, serve ATMS and Fee incoming SWIFT transfers.
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KCB Forex Exchange Services
KCB also offers forex exchange services under different categories. You need to have a foreign account to enjoy the service.
The following are in a form in which KCB bank offer forex exchange services;
1. Swift Transfers
Whether you do business online with clients across the borders or have a family member overseas and would like to send or receive money, swift transfer service will help you.
You can receive or send money swiftly and safely anywhere in the world under this service.
When you are transacting an amount of more than USD 10,000, you’ll need supporting documents on making the transaction.
The fee for carrying out the transaction is flat no matter the amount.
The services are for all major currencies, there are no charges when receiving the money into your foreign account, and the money is deposited immediately after the bank receives the remittance receipt.
See also: Find Current KCB Careers.
2. Forward Contracts
The forward contract’s service is meant for those who would like to trade currency and be offered a special rate at no extra cost by KCB bank.
You’ll enter into a special agreement with the KCB treasury team and then start trading at a specified exchange rate.
You will have your money after 180 days. It is a safer way to trade as you are protected from fluctuating exchange rates.
3. Traveler’s Cheques
You can also enjoy cashless travel, which is more comfortable and protects you from the flaunting money exchange rates.
That is great, right?
You can sometimes lose money exchanging at the airport, but with KCB travel Cheques, you can use them to make payment internationally.
The service is enjoyed by KCB customers who have American Express Travelers’ Cheques.
4. Swaps
If you conduct business online, you don’t have to pay in cash as the exchange rate may lead to your money loss.
KCB offers swaps service, a bank’s cheque, and can be cashed in a foreign currency.
The service protects you against fluctuating exchange and interest rates.
That is all you need to know about the current KCB currency exchange rate for Kenya.
Here is the list of our KCB articles:
Fixed Deposit, Mobi Loan, Careers, Cub Account, Types of Accounts, Activate Mobile Banking, Mpesa Loan, Savings Account, Tuungane Chama Account, Apply for Credit Cards, KCB Opening Hours, KCB Mpesa Interest Rate, Diaspora Banking, Salary Advance, Paybill Number, Savings Interest Rate, Business Account, Prepaid Master Card, KCB Student Account.
