In this article, you'll discover whether Revolut works in Kenya, explore some potential drawbacks if it is available, and consider the possibilities it offers. Stay tuned to find out more.
Does Revolut Work In Kenya?
Revolut is available for use in Kenya, primarily through its Kenyan Shilling travel money card. This card allows users to spend in Kenyan Shillings and manage their finances via the Revolut app. It supports multiple currencies, making it convenient for travelers and expatriates.
However, there are some limitations to consider. While the card can be used for spending and ATM withdrawals, users should be aware of potential currency exchange fees and ATM access fees. Additionally, fee-free ATM withdrawals are capped based on the user's plan, with charges applying beyond these limits.
Fees and Charges for Using Revolut in Kenya
When using Revolut in Kenya, it's important to be aware of the various fees and charges that may apply. Here are the key fees to consider:
- Transaction Fees: No specific transaction fees for spending in Kenyan Shillings, but users should choose KES as the local currency to avoid additional charges.
- Currency Conversion Fees: Subject to fair-usage limits and weekend markups. Specific details on these limits and markups are not provided.
- Withdrawal Fees:
- Standard Plan: Fee-free ATM withdrawals up to £200 per month.
- Plus Plan: Fee-free ATM withdrawals up to £200 per month.
- Premium Plan: Fee-free ATM withdrawals up to £400 per month.
- Metal Plan: Fee-free ATM withdrawals up to £800 per month.
- Withdrawals beyond these limits are charged at 2% of the value of the ATM withdrawal or a minimum fee of £1, whichever is greater.
- General Information About Possible Costs:
- Fees may apply if users exceed the fee-free ATM withdrawal limits based on their plan.
- Currency exchange fees may apply if users convert currencies beyond their free conversion limits.
- Some ATMs may charge additional access fees that Revolut cannot prevent.
- Users are advised to select 'No' if an ATM asks to convert money to avoid unfavorable exchange rates.
Is Revolut the Best Option in Kenya?
Even though Revolut is available in Kenya, it might not be the best option for users due to certain limitations and restrictions that could affect the overall user experience.
- ATM withdrawal limits: Fee-free withdrawals are capped based on the user's plan.
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM access fees: Some ATMs may charge additional fees that Revolut cannot prevent.
- Conversion prompts: Users must select 'No' to avoid unfavorable exchange rates.
- Limited free withdrawals: Only up to five ATM withdrawals per month are free.
Alternative Payment Solutions in Kenya
1) OneSafe
OneSafe is a leading alternative payment solution in Kenya, offering a seamless blend of traditional and Web3 financial services. With features like simple onboarding, multi-currency support, and user-friendly corporate cards, OneSafe stands out for its ease of use, lower fees, and exceptional customer support.
OneSafe Reviews
OneSafe has received a TrustScore of 3.2 out of 5 on Trustpilot. Users appreciate the seamless onboarding process and the multi-currency support, highlighting the ease of use and exceptional customer support. Check out more of our reviews here!
2) Wise
Wise is a reliable alternative payment solution in Kenya, offering international money transfers with low fees and real exchange rates. Key features include guaranteed exchange rates for 24 hours, robust security measures, and regulatory compliance. Benefits include cost savings, quick transfer times, and wide accessibility for users globally.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 from 85 reviews. Users generally mention issues with failed transfers and document approvals. Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and convenient payment solution in Kenya, allowing users to send and receive money globally. Key features include robust fraud protection, ease of use, and support for online transactions. Benefits include quick transfers, buyer protection, and a wide acceptance network, making it a reliable option.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 stars from 2,112 reviews. Users generally mention high fees, poor customer support, and issues with the mobile app interface. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Kenya
Can I use Revolut to withdraw cash in Kenya?
Yes, you can withdraw cash from ATMs in Kenya using your Revolut card.
Are there any fees for using Revolut in Kenya?
Fees may apply for ATM withdrawals, currency conversions, and exceeding fee-free limits.
Does Revolut support Kenyan Shillings?
Yes, Revolut supports Kenyan Shillings, allowing you to spend and manage KES.
Is Revolut safe to use in Kenya?
Revolut employs robust security measures, making it safe for transactions in Kenya.
Can I use Revolut for online purchases in Kenya?
Yes, you can use your Revolut card for online purchases in Kenyan Shillings.
Conclusion
Choosing the right payment solution in Kenya is crucial for managing finances effectively. While Revolut offers some benefits, alternatives like OneSafe provide a more comprehensive and user-friendly experience. Explore OneSafe for its lower fees and exceptional support. Ready to make the switch? Sign up to OneSafe today!