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Save money when you want to send money to Kuwait by comparing several money transfer specialists able to handle your transaction. Take into consideration the exchange rates, transfer fees and features each company offers to help narrow down the best deal for your transfer.
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Kuwait. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Companies like XE specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Kuwait bank account, often in as little as a day or two.
Services like MoneyGram, WorldRemit and Western Union allow you to transfer cash for pickup at a local branch in Kuwait – often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.
Kuwaiti dinars are not a popular currency, but your local bank might be able to exchange them. If your bank does supports Kuwaiti dinars, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Kuwait.
Let’s say you need to send £1,000 to family in Kuwait. Here’s what you might face as far as fees and exchange rates as of June 9, 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||£0||£3.99||£20 + additional correspondent bank fees|
|Exchange rate||1 GBP = 0.394 KWD||1 GBP = 0.374 WD||1 GBP = 0.366 KWD|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||KWD 394||KWD 374||KWD 366|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Kuwait. If you go with the digital money transfer service, your recipient ends up with KWD 28 more than the bank offers. If speed is crucial, or your recipient wants to pick up cash, a cash transfer can typically have your transfer to Kuwait in as little as 15 minutes. Confirm there is a cash pickup location near your recipient before sending.
Sign up and send money with a digital money transfer specialist in four steps:
Weigh costs and fees against convenience to learn how to compare providers that send money to Kuwait to best meet your needs:
When urgency trumps cost to get your money to Kuwait quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
If you don’t have a bank account, you can still use cash transfer services to send money to Kuwait. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account. These services are widely available around the world and although they’ll typically not be the cheapest available, they can be fast and convenient.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Kuwait’s exchange rate is flexible compared to the pound sterling, but the GBP-KWD relationship typically doesn’t make sharp, drastic movements. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Kuwaiti dinar trades against the pound sterling in our historical rate chart.
To send money to Kuwait from the UK, you’ll need government-issued ID and other documents, while documents needed to pick up money in Kuwait may be different by company.
To send money to Kuwait from the UK, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
It shouldn’t cost a fortune to send money to Kuwait. Compare money transfer companies that specialis in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
Small World offers competitive rates, instant transfers and multiple payment options to send money to more than 190 countries.
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