Are you seeking for a bank that can provide you with the finest exchange rates and FX services? The bank you should use is KCB. As a result, we’ve dedicated this post to teaching you everything you need to know about the Kenyan KCB exchange rate.
KCB bank provides a variety of services, including currency exchange and forex exchange.
You can exchange your money at any KCB bank location, whether you are traveling or arriving from another country.
It is easy because the trade (buy or sell) is done over the counter.
All major currencies, including the Euro, Dollar, Sterling Pound, Japanese Yen, and South African Rand, are available for exchange at KCB Bank.
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A foreign currency account can be opened with KCB as a current, savings, or fixed deposit account.
After opening the account, you can deposit Dollars, Euros, Sterling Pounds, or South African Rands, among other major foreign currencies.
The account has several benefits, including the ability to deposit up to $1,000 USD and withdraw foreign currency, as well as serve ATMs and charge fees for incoming SWIFT transfers at specified KCB.
KCB Forex Exchange Services.
KCB also provides foreign exchange services in a variety of sectors. To use the service, you must have a foreign account.
The following is a list of ways that KCB Bank provides currency exchange services:
1. SWIFT Transfers
Swift transfer service will assist you whether you do business online with clients across borders or have a family member who lives abroad and needs money sent or received.
With this service, you can receive or send money quickly and securely anywhere in the world.
If you’re making a transaction for more than USD 10,000, you’ll need to provide supporting papers.
The charge for completing the transaction is the same regardless of the amount.
The services are available in all major currencies, there are no fees for receiving funds into your overseas account, and the funds are deposited as soon as the bank receives the remittance receipt.
2. Forward Contracts
The forward contract service is for customers who want to exchange currencies and have KCB Bank offer them a favorable rate at no extra cost.
You’ll sign a unique agreement with the KCB Treasury Department and then begin trading at a predetermined exchange rate.
After 180 days, you will receive your funds. Because you are protected from shifting currency rates, it is a safer way to trade.
3. Traveler’s Cheques
You can also travel cashless, which is more convenient and protects you from fluctuating currency conversion rates.
Isn’t that fantastic?
You may lose money when exchanging money at the airport, however KCB travel Cheques can be used to make overseas payments.
Customers with American Express Travelers’ Cheques who have a KCB account can take advantage of this service.
You don’t have to pay in cash if you do business online because the exchange rate may cause you to lose money.
KCB provides swap services, as well as a bank check that can be cashed in a foreign currency.
You’ll be protected from shifting exchange and interest rates with this service.
That’s all there is to know about Kenya’s current KCB currency exchange rate.
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