According to Kenya's central bank, in 2014, Kenyans abroad sent home a record $1.4b, an 11% increase over 2013. Remittances are a major source of foreign exchange for east Africa's largest economy, and by now providing the M-Pesa service, Transfast will be better positioned to serve Kenyans working abroad.
Transfast, the global money transfer company, today announced partnerships with three leading Kenyan banks for instant deposits, and the launch of M-Pesa service. Both instant deposits and M-PESA service enable customers worldwide, online and in person, to make instant transfers to Kenya 24x7x365, including bank holidays. In addition to the instant services, TRANSFAST offers same-day deposits to all banks in Kenya. Instant deposits are available at three leading banks: African Banking Corporation, Chase Bank Kenya and Dubai Bank Kenya Ltd.