This is the transfer of money between a non-cash type of money. There are many modes of transferring money , and to get the best way to send money to kenya, you can search the browser.
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This Kind of cash transfer has the following modes of payments:
This transfer is digital and it is performed from one individual or institution to another the method is considered more secure as each and each account holder must have a proven identity
Electronic funds transfer
It depends mostly on computer-based systems and can be performed within an institution or from different associations.
Email money transfer
This is largely based in Canada and involves both institutional and individual accounts .it is common in Canadian financial institutions.
Transfer by foreign exchange agent
This involves global transfer businesses like currency change; they are the most widely used money transfer procedures.
Mobile money transfer
This is the sort of money transfer that involves mobile phones, it was launched by Safaricom a business in Kenya and which is part of Vodacom of the UK and it's rising to fame with many individuals receiving cell phones.
Requirements for global money transfer
For you to send or receive money by international money transfer the following information is required:
Official identifications of both the sender and the recipient. This is to confirm whether the sender and recipient are revealing their actual identities and to prevent loss of money. The bank accounts of the recipient, the bank's swift code, address, bank account number.
This is to make certain that the money goes to the receiver's account. The time where the cash is sent is also essential and is required and the time it's withdrawn is also listed.