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Transferring money to Kenya

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Leicester, United...
posts: 6
reviews: 1
Transferring money to Kenya

Hi,

I want to make a transfer to Kenya to a local travel agent who is a family friend, into her personal account, and I'm just a bit apprehensive as to how to go about it.

The payment our travel agent would like us to do involves transferring the money in US DOLLARS to a Citibank account in New York using a SWIFT code (this is an intermediary bank), and then to Prime Bank Ltd in Kenya, (which the travel agent has given me an address and account number for)...she has then given me ANOTHER account number which she says belongs to her own personal account which she says is the Ultimate beneficiary account.

My cousin has paid her in the past with the same exact details via this route and not had a problem. However, our bank is unsure how to complete the transaction? And they messed it up last time on the telegraphic transfer the first time we transferred the money, and we lost over 300 pounds when the money bounced back.

I also contacted Western Union who said they could make the payment direct into her account from UK pounds to Kenyan Shillings and we wouldn't have to go via an intermediary bank.

Can someone please just clarify for me if the above route of payment is ok? As no-one else I know has a clue!!!

Thanks,

Prim

Ilford, United...
posts: 400
reviews: 21
11. Re: Transferring money to Kenya

Hi I work in a bank (although i am a bit rusty on TT payments) but do open accounts for international corporate clients where we are given specific routing instructions for the payment settlement instructions, so I hope this sheds a bit of light on the multiple banks/account numbers...

I'm assuming you need to pay in USD as that is the preferred currency? All payments in USD are routed through USA, so are routed through the recipient (Prime) bank's "correspondent" bank (Citibank) for onward payment to the recipient bank. Once Prime have received the funds to their "bank account" it is then forwarded to the account of your travel agent which I am assuming will be a USD account

I think as long as you give your bank the end bank account details (IBAN or SWIFT or ABA or Sort Code # for Prime) plus the Travel Agent's account number on the TT instruction they should also be able note "special instructions" for the routing to Prime via Citibank, but as Alsacienne said in reply #2 you'll pay a fee to do the TT, Citi will also take their cut (probably around $10 but don't quote me on that) and Prime will take probably a similar amount before the Travel Agent receives the money in to her account

I hope that helps :-)

manchester, United...
posts: 971
reviews: 48
12. Re: Transferring money to Kenya

I have sent you a message with details of what you need to make the payment. Let me know if you need any more info.

Good luck

13. Re: Transferring money to Kenya

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Nairobi, Kenya
Destination Expert
for Kenya
posts: 2,054
reviews: 147
14. Re: Transferring money to Kenya

Even if you don't list the intermediary bank, when you enter the SWIFT code for Prime Bank, all the details in regards to the routing for the transfer are added to your instructions. We operate with A$, US$ and £ and for each currency the routing comes via Sydney, New York and London respectively. It does get confusing, but rely on the SWIFT code.

Nairobi, Kenya
posts: 4
15. Re: Transferring money to Kenya

the best form of money transfer from outside countries into kenya is through Paypal, its cheap convenient and does not involve so many parties, it just involves Paypal, the sender and the receiver.

16. Re: Transferring money to Kenya

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17. Re: Transferring money to Kenya

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