Lexi Webster
M-Pesa is a popular digital payment system in East Africa, allowing users to send and receive money, pay bills, and access credit. It was launched in Kenya in 2007 and has since expanded to several other African countries. To send money from Australia to M-Pesa in Kenya, a third-party service is required. Several online money transfer providers support M-Pesa payouts in Kenya, including Remitly, Wise, WorldRemit, Skrill, and Sendwave. These platforms typically offer quick, easy, and free sign-up processes, allowing users to transfer money from their bank accounts or cards to M-Pesa accounts in Kenya. Traditional transfer operators such as Western Union, MoneyGram, and Small World also facilitate money transfers to M-Pesa in Kenya but may be more expensive than online-only platforms.
| Characteristics | Values |
|---|---|
| How to send money | Use an online money transfer provider that supports M-PESA payouts in Kenya, such as WorldRemit, Remitly, Wise, Skrill, Western Union, MoneyGram, or Small World. |
| How to receive money | M-PESA operates through smartphones and an agent network, allowing customers with an eligible cell phone and SIM to transact with their phone and in cash at agent locations. |
| Cost | There may be no specific M-PESA transfer fee, but an exchange rate markup will apply. Remitly costs 2.6% for sending 100 Australian dollars from Australia to Kenya, with the cost decreasing as the amount of money sent increases. |
| Speed | Sending money from an M-PESA wallet to another M-PESA wallet can be very quick, sometimes instant. |
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What You'll Learn
- Using third-party services like Remitly, Wise, or Western Union
- Converting AUD to KES using mid-market exchange rates
- Using online money transfer providers that support M-Pesa payouts in Kenya
- Comparing transfer fees and speed using the Monito app
- Creating an account on a money transfer platform and linking it to M-Pesa
Using third-party services like Remitly, Wise, or Western Union
Remitly offers a variety of delivery options for sending money from Australia to Kenya, including cash pickup, bank deposit, and mobile wallet. To use Remitly, you need to create an account on their website or mobile app. After selecting the amount and currency, you can choose the delivery speed and method. You will then need to provide the recipient's details and your payment information before confirming the transfer.
Wise is another option for sending money to M-Pesa Kenya. Wise offers electronic transfers at the mid-market rate and low, transparent fees. You can send money in USD to Wise using a local payment method like ACH or wire, which is usually the cheapest option. You can also pay by card, which may be faster and more convenient but could involve a fee. Wise converts the funds to KES at the mid-market exchange rate and deposits them into the recipient's M-Pesa wallet. Wise allows you to send money to over 70 countries and always shows you the amount you pay and the amount your recipient will receive.
Western Union also enables you to send money to Kenya from Australia. You can transfer funds to any of their 1,500+ agent locations in Kenya for cash pickup, or directly to a bank account via online banking (PayID), using a credit/debit card, or cash. Western Union offers a similar service in many other African countries, including Morocco, South Africa, Tanzania, and Zimbabwe.
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Converting AUD to KES using mid-market exchange rates
To convert AUD to KES using mid-market exchange rates, you can use a variety of online money transfer providers. These include Wise, Remitly, Western Union, MoneyGram, Skrill, Halo Financial, and WorldRemit.
Wise, for example, allows you to send money in USD, which it then converts to KES using the mid-market exchange rate and a low, transparent fee. The money is then deposited into the recipient's M-PESA wallet.
Remitly is another popular option, with relatively low fees and exchange rates. However, it's important to note that Remitly has a limit of $2,999 within 24 hours and $10,000 within 30 days when sending to a Kenyan M-PESA account.
Western Union and MoneyGram are also well-known money transfer operators that offer transfers from Australia to M-PESA in Kenya.
Additionally, you can use banks, currency exchange bureaus, or online currency exchange services to convert AUD to KES. Instarem, for instance, offers competitive exchange rates for international money transfers and allows you to convert AUD to KES at live rates with minimal margins and no hidden fees.
It's always a good idea to compare the exchange rates and fees offered by different providers before choosing a service.
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Using online money transfer providers that support M-Pesa payouts in Kenya
M-Pesa is a mobile phone-based money transfer service that was launched in Kenya in 2007. It has since expanded to several other countries, primarily in East Africa. The service allows users to deposit, withdraw, transfer money, pay for goods and services, and access credit and savings, all through their mobile phones.
When sending money from Australia to Kenya, using a third-party service is necessary, and there are several online money transfer providers that support M-Pesa payouts in Kenya. These include:
Remitly
Remitly is a popular choice for sending money to M-Pesa in Kenya from Australia. It offers relatively low fees and exchange rates, with the cost being 2.6% for sending 100 Australian dollars, and this percentage decreases as the amount of money sent increases. There are, however, limits to how much can be sent within a certain period when using Remitly. For instance, you can only send up to $2,999 within 24 hours and $10,000 within 30 days.
Wise
Wise (formerly TransferWise) is another option for sending money to M-Pesa in Kenya. It offers electronic transfers using the mid-market rate and low, transparent fees. Wise allows you to send money in USD using a local payment method like ACH or wire, or by card, which may be faster but could involve a fee. Wise also shows you the exact amount your recipient will receive.
WorldRemit
WorldRemit is another online money transfer provider that supports M-Pesa payouts in Kenya. It is a well-known platform that offers competitive exchange rates.
Skrill
Skrill is also an option for sending money to M-Pesa accounts in Kenya from Australia.
Western Union
Western Union is the world's largest and oldest money transfer operator. It offers money transfers to M-Pesa in Kenya from numerous countries, including Australia.
MoneyGram
MoneyGram is the world's second-largest money transfer operator and also offers money transfers from Australia to M-Pesa in Kenya.
Small World
Small World is another well-known money transfer operator that supports transfers from Australia to M-Pesa in Kenya. It is often one of the cheapest ways to send money.
Sendwave
Sendwave is an app-based money transfer service that can be used to send money directly to an M-PESA number. It offers good exchange rates and no transaction fees.
When choosing an online money transfer provider, it is important to compare fees, exchange rates, transfer speeds, and other factors to determine the best option for your specific needs.
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Comparing transfer fees and speed using the Monito app
Monito is a London-based fintech company that helps users find the best way to send money abroad. It is not a money transfer company but a comparison engine that allows users to compare the costs of different options for sending money internationally.
The Monito app allows users to compare over 100 transfer providers and banks and get exclusive promotions, offers, and tips. To use the app, users need to enter the country they are sending money from and the country they want to send money to. The app will then display a list of all the available services, ranked from the cheapest to the most expensive. Users can also consider other criteria such as transfer speed or payment options.
Remitly
Remitly is a true specialist in international card payments and is available in Europe, North America, Singapore, and Australia. It supports transfers to around 47 currencies on every continent. Remitly's fees are built into the exchange rate and typically range between 0.50% and 2.00% of the international money transfer value, depending on the currencies in question. Remitly was the cheapest provider on 20% of global comparisons on Monito between July 2020 and 2021. Remitly 'Economy' bank transfers take between three and five business days to arrive, while 'Express' card transfers arrive within minutes.
Wise
Wise is a world-class option for sending money internationally and frequently ranks as the cheapest way to transfer money internationally on Monito. Wise charges a mix of fixed fees and commissions for different corridors, which usually constitute between 0.25% and 1.00% of the total transfer value. Wise was the cheapest platform on 21% of global comparisons on Monito between July 2020 and 2021. In 2020, around 34% of Wise transfers arrived within 20 seconds, 53% within an hour, and 81% within a 24-hour period.
Western Union
Western Union is the world's largest and oldest money transfer operator. It offers money transfers to M-Pesa in Kenya from dozens of countries, including Australia. While legacy platforms like Western Union are usually more expensive than online-only platforms, they usually offer decent exchange rates.
Paysend
Paysend is a flexible and fast-growing money transfer platform that supports credit and debit card payments to an impressive network of nearly 100 receiving countries through various payout options. Paysend charges a fixed fee for most card-to-card and card-to-Paysend-wallet transfers and an exchange rate margin of between 0.50% and 2.00% of the international money transfer value. Paysend was the cheapest platform on roughly 25% of global comparisons on Monito in May 2021.
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Creating an account on a money transfer platform and linking it to M-Pesa
To send money from Australia to Kenya via M-Pesa, you will need to use a third-party service. There are several online money transfer providers that support M-Pesa payouts in Kenya, including WorldRemit, Remitly, Wise, Skrill, and Sendwave. These platforms typically offer quick, easy, and free sign-up processes.
- Choose a money transfer platform: Select a reputable and reliable provider that supports M-Pesa payouts in Kenya, such as Remitly or Wise.
- Sign up for an account: Visit the website or download the mobile app of your chosen platform. Provide the necessary personal information, such as your name, email address, and password, to create an account.
- Verify your account: Most platforms will require you to verify your identity before you can start sending money. This process may vary depending on the platform but typically involves providing a government-issued ID or proof of address.
- Link your payment method: Add your preferred payment method, such as a bank account or debit card, to your account. This is the account from which you will transfer funds to your recipient's M-Pesa account.
- Select M-Pesa as the delivery method: During the transfer process, choose M-Pesa as the payout option. You may also need to enter the recipient's mobile number and name.
- Initiate the transfer: Enter the amount you wish to transfer, ensuring you are aware of any applicable fees and exchange rates. Confirm the transaction details and complete the transfer.
- Track the transfer: Most platforms will provide a way to track your transfer, such as a transaction ID or reference number. You can use this to monitor the status of the transfer and ensure it has been successfully delivered to the recipient's M-Pesa account.
By following these steps, you can create an account on a money transfer platform and link it to M-Pesa, enabling you to send money from Australia to Kenya securely and conveniently.
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Frequently asked questions
You can send money from Australia to M-Pesa in Kenya by using a third-party service such as Remitly, Wise, Skrill, WorldRemit, Western Union, MoneyGram, or Small World. These platforms allow you to transfer money from your bank account or card to your recipient's M-Pesa account.
The cheapest option depends on the amount of money you are sending. Online money transfer services like Remitly, Wise, and Skrill typically offer lower fees and better exchange rates than traditional transfer operators. However, for larger amounts, legacy platforms such as Western Union or MoneyGram may still be competitive.
The transfer time can vary depending on the service provider and payment method. Some providers, such as Remitly, claim that the money can arrive in Kenya in just a few minutes.
Yes, there may be fees or charges involved. Each service provider has its own fee structure, which may include transfer fees, exchange rate markups, or other charges. It is important to review the fees and charges before selecting a service provider.
