BANK

Forex

  • Currency Account

    KCB customers can hold a foreign currency account as a savings, current or fixed deposit investment account. The foreign currencies accommodated in this account are USD, Sterling Pound, Euro, South African Rand, among others.

     

    Benefits

    • Low account maintenance fee of US$5 per month for balances below US $1,000.
    • Free cash deposits to foreign currency accounts up to US$10,000.
    • Foreign currency withdrawals at JKIA, Moi international Airport, Kipande House, Sarit, Karen, Moi avenue and other select ATMs.
    • No Account maintenance fee for amounts above USD 1,000.
  • Spot deals

    This is the purchase or sale of foreign currency for immediate delivery.

  • Forward Contracts

    (Foreign Exchange Forward Contracts; Par-Forwards, Flexi-Forwards and Outright-Forwards)

    You can trade currency at a special rate at no extra cost. Get into a special arrangement with our treasury team, and trade at a specified exchange rate for settlement up to 180 days (6 months) into the future.

    This way you’re protected from the fluctuating exchange rates between the date of the established deal (deal date) and the date of actual delivery of funds (value date).

  • Dual Currency Deposits

    Dual Option Currency Deposits (DOCUs) earn our clients a higher return on investment by providing a fixed rate of interest above what is paid out by a traditional money-market investment with no capital protection. The standard period of tenor is one to three months.

  • Swaps

    A foreign currency swap is an agreement to exchange currency between two foreign parties. The agreement consists of swapping principal and interest payments on a loan made in one currency for principal and interest payments of a loan of equal value in another currency. One party borrows currency from a second party as it simultaneously lends another currency to that party.

     

    Benefits

    • Allows you to mitigate the fluctuation of exchange rate and interest rate risks while financing and trading in foreign currency.
    • Valuable for long-term hedging of translation risk.
  • Purchase/Sale of Foreign Currency

    Traveling abroad or did you just come from a trip overseas? Buy or sell foreign currency cash over the counter in any of our KCB branches and enjoy competitive exchange rates in Kenya today.

    Benefit

    • Cash Service is available for USD, GBP, EUR,AUD, CHF, CAD, TZS and UGX.
    • Flexible foreign currency exchange rates for amounts above USD 2,000.
    • No cash handling fee is charged for deposits below USD 10,000.
    • Burundi Franc (BIF) transactions outside Burundi are prohibited-Talk to your Domicile branch in Burundi for assistance.
    • Non-account holders can exchange up to USD 1,000 or its equivalent with us.
  • Real Time Gross Settlement (RTGS)

    Pay you local suppliers from one currency to another via RTGS, to ensure real time and timely payments.

    Transactions of USD 10,000 are supported by the necessary documents before they can be effected.

     

    Benefits

    • Enjoy real time transfer of funds from one currency to another locally.
  • Swift Transfers

    If you conduct business across borders or have family overseas, then the Swift Transfer service is what you need. You can send out or receive money into your account from anywhere in the world.

    Transactions of USD 10,000 need to be supported by the necessary documents before they can be effected.

     

    Benefits

    • We charge a Flat fee for swifts, regardless of amount.
  • Online Account to Account Transfer of FCY Funds

    Make use of our easy and convenient online platform, KCB internet Banking, to transfer your funds from one account to another, in same currency or different currency, both locally and internationally.

  • Protect your International Trade Payments or Receipts

    Your international trade payments and receipts can be further protected and enforced by utilizing our simple and affordable International Trade Services such as International Letters of Credit, Guarantees e.t.c 



For all your Forex needs, please contact us on: treasuryhelpdesk@kcbgroup.com