No matter why you’re headed to Kenya, you’ll need cash to make the most of your stay. But did you know that Kenya’s advanced mobile payment systems offer a great alternative? In this guide, we’ll explain the different ways to handle your money in Kenya—whether you’re using cash, withdrawing with a card, or opting for mobile payments. We’ll cover Kenya’s currency, the best options for currency exchange, and tips on using credit and debit cards.
Understanding the Kenyan Shilling (KES)
Let’s start with the obvious first: the official currency in Kenya is the Kenyan Shilling (KES), and banknotes come in 50, 100, 200, 500, and 1,000 KES denominations.
If you plan to use cash, it’s helpful to familiarize yourself with the appearance of Kenyan banknotes and coins to avoid confusion or falling target to counterfeit currency.
Exchanging Currency in Kenya
Upon arrival in Kenya, you can exchange your currency for Kenyan shillings. Although currency exchange at the airport is a convenient option, we generally advise against it due to the high rates, which can cause your money to lose value.
Instead, we recommend exchanging currency in the city center or family-owned exchange shops in areas like Lavington. Remittance providers such as Taaj or Dahabshiil also offer competitive rates. If you need cash at the airport, a better alternative would be to use the ATMS and withdraw the required amount; this is a cheaper and safer alternative to exchanging money at the airport.
You can also exchange foreign currency at banks, but they may charge higher fees or offer less favorable exchange rates than exchange bureaus.
Tips for Currency Exchange:
- Compare rates at different exchange bureaus or banks to get the best deal.
- Always check online for the most up-to-date exchange rate.
- Avoid exchanging money on the streets to prevent scams or counterfeit currency.
- Keep receipts from currency exchanges; you may need them if you plan to exchange money before leaving Kenya.
Paying with Credit and Debit Cards
Credit and debit cards are widely accepted in Kenya, particularly in larger cities and tourist destinations. Visa and MasterCard are the most commonly accepted, while American Express and other cards may have limited acceptance.
Most businesses in major cities such as Nairobi and Mombasa accept card payments. However, always be aware of potential foreign transaction fees your bank or credit card provider charges. When paying with a debit or credit card, if the card machine gives you the option to pay in the local currency (KES) or your home currency, always choose to be charged in the local currency.
ATMs for Card Withdrawals: Many ATMs in Kenya accept international debit and credit cards, and you can withdraw money at most ATMs. Fees can vary between banks, so it’s worth doing some research. We recommend using the Co-operative Bank of Kenya, as it tends to have lower costs. Also, remember to notify your bank about your travel plans to avoid blocking your card due to unusual activity.
Mobile Payments: Kenya’s M-PESA Revolution
Kenya is a global leader in mobile payments, and M-Pesa is the country’s most popular mobile money service. This convenient service allows users to send and receive money and pay for goods and services, all through their mobile phones.
M-PESA is operated by Safaricom, Kenya’s largest telecommunications company. To use M-PESA, you must buy a local SIM card first. Once set up, you can pay for nearly everything—from taxis and groceries to hotel bills—with just a few taps on your phone.
Advantages of M-PESA: Mobile payments are widely accepted, especially in urban areas. It’s a safe, cashless way to handle transactions, reducing the need to carry large sums of cash. You’ll also find M-PESA agents almost everywhere to deposit or withdraw cash. As a foreigner, you can use mobile apps like Wise or NALA to transfer funds from your foreign bank to M-PESA.
Safety Tips for Handling Money in Kenya
- Avoid Carrying Large Sums of Cash: Use ATMs and mobile payments whenever possible to minimize the cash you carry.
- Be Cautious with ATMs: Use ATMs located in secure areas and stay aware of your surroundings. Cover the keypad while entering your PIN, and avoid ATMs that look tampered with. We recommend using ATMs inside banks or shopping malls.
Conclusion
Navigating Kenya’s currency exchange and payment options is straightforward if you know what to expect. By using a mix of local currency, credit/debit cards, and mobile payments like M-PESA, you can enjoy a hassle-free experience while exploring this beautiful country. Always stay updated on exchange rates, be mindful of fees, and remember safety when handling money.
Simplify Your eTA Application with ExpressETA
We might not be experts in exchange rates and money but we are here to make your journey even easier by handling the visa or ETA application process, taking that extra burden off your shoulders.
At ExpressETA, we specialize in transforming your travel dreams into reality with a seamless, stress-free process. We turn the complicated and tedious process into a simple, swift experience.
Our one-page application form takes less than three minutes to complete. We only require your details, such as name, email, date of birth, and phone number. Then, upload two documents: your passport picture and a photo of yourself.
After that, get your eTA approved and in your inbox within 24 hours.
Choosing ExpressETA means choosing peace of mind. While we handle the paperwork, you can focus on planning your exciting trip to Kenya. Whether it’s a safari adventure, a beach getaway, or a cultural tour, we are here to make your travel preparations effortless.
Let us handle the complexities while you prepare for an unforgettable journey.
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