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How to send money to Kuwait
The safest and most cost-effective ways of sending money to friends and family in Kuwait from Canada.
If you’re looking to send money to Kuwait, but don’t have time to compare money transfer services individually, we’re here to lend a helping hand. This comparison guide is designed to act as a bit of a one-stop shop, so you can weigh your options and access some handy tips and tricks that will hopefully help you track down the best deal possible.
WorldRemit International Money Transfers
WorldRemit can help you get your money where it needs to go in minutes, with upfront exchange rates and low fees.
Use promo code FINDERCA on your first transfer and pay zero fees. T&Cs apply.
- Transfers to 150+ countries
- Send to bank account, cash pickup, mobile money, airtime top up
- Pay with card, Interac or Apple/Android Pay
Compare services to send money to Kuwait
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
Banks versus money transfer companies
Whether you need to send some spare change to family and friends or you have a portfolio of business expenses to manage on the peninsula , there are a number of banks and money transfer services that can help you get the job done. So which option should you choose? Let us provide a bit of insight to help you make the best decision.
- Banks. Banks offer a wide array of financial services, but don’t carry out nearly as many money transfers as dedicated services. Since they carry out a smaller number of transfers, they inevitably need to charge a larger margin on each transfer to keep the service profitable, which may affect you and your pocketbook.
- Money transfer services. International money transfer providers have a bit of a leg up when it comes to doing what they do best because they carry out thousands of transactions every day. Since these providers need to compete with one another to stay on top of the market, they maintain a very customer-centric approach to business, which means they’re wiling to go out of their way to keep you happy by offering the lowest fees and the most competitive exchange rates.
Case Study: Kevin Sends Money to Kuwait
Kevin’s son, Jack, works in the oil industry in Kuwait and is turning 30 years old in less than a week. Kevin knows that his son has been wanting to take a trip to India for some time, so he decides to send Jack $1,000 for his birthday, to give him a nudge in the right direction. Kevin wants to make sure he’s getting the best deal so he decides to compare his bank against a dedicated money transfer service to find the cheapest option. Our table below shows the exchange rate at the time of writing between Canadian dollars and Kuwaiti dinar, but you should check the current rates before making a decision.
|Canadian bank||Money transfer company|
|Exchange rate||CAD$1 = KWD0.2160||CAD$1 = KWD0.2230|
|Transfer time||3 – 5 days||24 hours|
|Amount received (in KWD)||KWD216||KWD223|
Kevin realizes that he will save KWD7 (around $30) on exchange rates and $20 on fees, if he chooses to send money to Jack using the money transfer service rather than his bank. Not to mention that Jack will be able to access funds within 24 hours of payment. How’s that for a good deal!
What should I look for in a transfer company when sending money to Kuwait?
When it comes to sending money overseas, it can help to start by looking for some of the following features to make sure you find a top-notch deal.
- Competitive exchange rates. Exchange rates will vary by provider – it doesn’t hurt to ask for quotes from 3-4 providers, or reference our handy comparison table above, to make sure you get the best bargain.
- Minimal fees. Some transfer services offer low to no fees, so make sure to shop around and look for an option that doesn’t make up the difference with less competitive exchange rates.
- Various transfer methods. Every transfer service will offer different transfer methods, which can range from bank-to-bank transfers to cash pick-ups to mobile top-ups, so don’t forget to double check what’s on offer and pick the best option for you.
- Fast transfer times. A speedy transfer service can really pay off in an emergency, but it’s often more expensive to book a transfer that takes only minutes to process, so be mindful of whether you’re willing to pay a little bit extra for the service.
- Reliable customer service. Some money transfer services are head and shoulders above the rest when it comes to customer service, so don’t hesitate to compare before you register for an account.
Compare Money Transfer Services to send money to Kuwait
|Money Transfer Service||Transfer Fee (CAD)||Exchange Rate Markup||Total in KWD minus fees (from $1,000)|
|XE Money Transfer||$0||0.2304||230.39|
Rates updated as of 05 July 2018 (subject to change) – you can visit many of these websites directly by clicking “Go to Site” on the interactive transfer comparison table at the top of the page.
What are my options for sending money to Kuwait?
There is no shortage of options when it comes to sending money to Kuwait. Pick the one that you think will work best for you, keeping in mind that money transfer services are typically your best bet when it comes to locking in the best deal.
- Bank. Contact your bank to confirm their ability to deal in Kuwaiti dinar before organizing a bank-to-bank transfer.
- Cash transfer providers. Lock in a cash transfer by booking your next transfer with a provider like Western Union and MoneyGram to send money in an emergency.
- Online money transfer companies. Register with a dedicated money transfer service like TransferWise or World First to find the best deal.
- International bank drafts. Purchase an international money draft with your bank to deliver funds by snail mail.
How can I send an emergency cash transfer to Kuwait?
If you’re in a bit of a pickle, and need to send money overseas in an emergency, then your safest bet is to register with a cash transfer company like Western Union or MoneyGram. While these companies can be useful if your stuck in a jam, they aren’t typically the most affordable option, so it pays to compare services if you have a bit of time, to make sure you find the lowest fees and most competitive exchange rates.
- Western Union. Send cash to hundreds of Western Union locations in Kuwait.
- MoneyGram. Organize a transfer to a MoneyGram location in one of 19 cities.
- WorldRemit. Cash is available to collect instantly from branches of Xpress Money Network.
What are some tips for picking up cash in Kuwait?
If you’re aiming to visit Kuwait in the near future, the Government of Canada recommends that you exercise a high degree of caution (as of 05 July 2018). That being said, the crime rate is fairly low and violence is rare, including against foreigners. It’s still important to be cautious, use common sense and follow these handy tips:
- Avoid secluded places or non-residential areas after dark
- Ask a trusted friend to join you if you need to pick up cash
- Phone ahead to confirm the location and opening hours of the cash pick-up agent
- Deposit the money in your bank account or a safe deposit box as soon as possible
What are the steps to send money to Kuwait?
The transfer process when sending money to Kuwait will vary depending on the transfer provider you choose to use, but most providers will require you to follow these simple steps at the very least:
- Sign up for an account. Provide your name, contact details, proof of ID and bank account details to register for an account.
- Enter transaction details. Input the personal and banking information for your recipient, and specify the amount of money being sent as well as currency and destination country.
- Submit and track transfer. Review the details of your transfer before locking in your transfer, and then track your payment using the supplied verification code.
Situated at the tip of the Persian Gulf, Kuwait is an oil rich country with a population of more than 4.2 million people and a history dating back several thousand years. There’s a rising demand for affordable and fast money transfer services when it comes to sending money from Canada to Kuwait. Make sure to shop around before settling on a service, and don’t forget to use our handy transfer comparison table to get the most bang for your buck.
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