USD to KES for business payments
A foreign business can pay a Kenyan supplier in US dollars or Kenyan shillings (KES) without exchange control paperwork on the Kenyan side: Kenya repealed its exchange control laws in 1993, and exporters may keep their proceeds in foreign currency accounts. The choice comes down to how the supplier invoices, what its bank charges to receive, and whether a shilling payout reaches a business account.
- The US government's Country Commercial Guide states that Kenya repealed all exchange control laws in 1993 and that exporters may retain all their export proceeds in foreign currency accounts with local banks, or convert them.
- Buying or selling foreign exchange up to $10,000 is unrestricted, while larger deals need documents showing their purpose, mainly for Central Bank of Kenya (CBK) records.
- The CBK publishes statistics for KEPSS, its real-time gross settlement system, and for the automated clearing house, cheques and EFTs, and mobile payments.
- Prime Bank Kenya's general tariff lists an inward telegraphic transfer at Kshs 700, and ABC Bank Kenya's September 2025 tariff lists inward electronic funds transfers as free.
- Safaricom's M-PESA PayPal service limits withdrawals to KES 250,000 per transaction and KES 500,000 per day.
The Kenyan shilling at a glance
The Kenyan shilling (KES) is issued by the Central Bank of Kenya (CBK). Kenya runs an open foreign exchange regime: the US government's Country Commercial Guide states that Kenya repealed all exchange control laws in 1993, that exporters may retain all their export proceeds in foreign currency accounts with local banks or convert them, and that converting and transferring investment funds is not restricted. The shilling's rate against the dollar changes daily, so a shilling invoice carries exchange rate risk for a dollar-based buyer.
| Item | Kenyan shilling |
|---|---|
| Currency code | KES |
| Issuer | Central Bank of Kenya |
| Exchange control laws | Repealed in 1993 |
| Export proceeds | May be retained in foreign currency accounts at local banks, or converted |
| FX deals up to $10,000 | Unrestricted |
| FX deals above $10,000 | Documentation of purpose, mainly for CBK records |
| Payment systems tracked by the CBK | KEPSS (RTGS), automated clearing house, cheques and EFTs, mobile payments |
Sources: International Trade Administration, Kenya Country Commercial Guide, Trade Financing; CBK, National Payments System. Checked on 29 October 2026.
Kenyan rules that affect your payment
Because exchange controls were repealed, a Kenyan supplier needs no central bank approval to receive dollars and may keep them. A few rules still shape a business payment:
- Documentation above $10,000. Foreign exchange deals above $10,000 need documents showing the purpose, mainly for CBK records. Send the invoice or contract number with the payment so the supplier's bank can file it.
- Source-of-funds questions. Kenya was grey listed by the Financial Action Task Force in 2024, according to the Country Commercial Guide, so expect banks to ask where funds come from, especially for a first payment.
- Virtual assets are licensed. Kenya's Virtual Asset Service Providers Act, 2025 names the CBK and the Capital Markets Authority as the regulators that license and supervise providers, and the CBK stated in November 2025 that no provider had yet been licensed. Pay suppliers by bank transfer, not in stablecoins.
Our guide to receiving USD in Kenya covers the supplier's side.
How a payment reaches a Kenyan supplier
A dollar payment reaches a Kenyan bank by SWIFT through the bank's US correspondent. Inside Kenya, the CBK operates KEPSS, the Kenya Electronic Payment and Settlement System, its real-time gross settlement system, and publishes statistics for the automated clearing house, cheques and EFTs, and mobile payments. Many small businesses also use M-PESA, Safaricom's mobile money service, but its limits make it unsuitable for most supplier invoices.
| Route | Supplier receives | Published charge or limit |
|---|---|---|
| SWIFT wire to a USD account | USD, held or converted when the supplier chooses | Prime Bank Kenya: inward telegraphic transfer Kshs 700 |
| Electronic funds transfer into a Kenyan bank | Account currency | ABC Bank Kenya: inward EFT free (September 2025) |
| SWIFT wire to a shilling account | KES, converted on arrival at the bank's rate | Bank margin plus receiving charge |
| PayPal balance withdrawn to M-PESA | KES in M-PESA | KES 250,000 per transaction, KES 500,000 per day |
Sources: Prime Bank Kenya, General Tariff (January 2025); ABC Bank Kenya, Tariff Guide (September 2025); Safaricom, M-PESA PayPal FAQs. Checked on 29 October 2026.
For a wire, collect the supplier's registered name, the USD account number (not the shilling account), the bank's full legal name, branch and SWIFT code, and the US correspondent its bank names. Check the code with our SWIFT code lookup.
What converting USD to KES costs
A dollar to shilling conversion costs the mid-market rate, the midpoint between buying and selling prices at that moment, plus the margin your provider or the supplier's bank adds, plus the payment fee. When you pay dollars, the supplier pays a receiving charge that varies widely between Kenyan banks, from Kshs 700 for an inward telegraphic transfer at Prime Bank to nothing for an inward EFT at ABC Bank, and converts later at its bank's rate. When you pay shillings through a provider, check that the payout lands in the supplier's business account, not a personal mobile wallet, so it matches the invoice.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send. Helm cannot currently provide USD account details to companies based in Kenya; the account described here is for the foreign business that pays the Kenyan supplier.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay a Kenyan supplier in USD or KES?
- Pay USD when the supplier invoices in dollars and holds a USD account. Exporters may keep all their proceeds in foreign currency, so nothing forces a conversion.
- Pay KES for local services and shilling invoices, through a provider that pays a business bank account.
- Keep large payments documented. Above $10,000, the supplier's bank needs the purpose on file.
Kenyan importers on the other side of the trade can read our guide to paying Chinese suppliers from Kenya.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Does Kenya have exchange controls?
No. The US government's Country Commercial Guide states that Kenya repealed all exchange control laws in 1993. Foreign exchange deals above $10,000 need documentation of their purpose, mainly for Central Bank of Kenya records.
Can a Kenyan supplier keep the dollars I pay?
Yes. Exporters may retain all their export proceeds in foreign currency accounts with local banks, or convert them, according to the Country Commercial Guide.
What is KEPSS?
KEPSS is the Kenya Electronic Payment and Settlement System, the Central Bank of Kenya's real-time gross settlement system for interbank payments.
What does a Kenyan bank charge to receive a wire?
It varies. Prime Bank Kenya's general tariff lists an inward telegraphic transfer at Kshs 700, while ABC Bank Kenya's September 2025 tariff lists inward electronic funds transfers as free.
Can I pay a Kenyan supplier through M-PESA?
M-PESA suits small amounts only. Safaricom's M-PESA PayPal service limits withdrawals to KES 250,000 per transaction and KES 500,000 per day, so pay supplier invoices to a business bank account.
Can Helm pay a supplier in Kenya?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. Helm cannot currently provide USD account details to companies based in Kenya.
References
- International Trade Administration: Kenya Country Commercial Guide, Trade Financing
- Central Bank of Kenya: National Payments System
- Central Bank of Kenya: Public notice on the Virtual Assets Service Providers Act 2025 (18 November 2025)
- Prime Bank Kenya: General Tariff (January 2025)
- ABC Bank Kenya: Tariff Guide, updated September 2025
- Safaricom: M-PESA PayPal service FAQs
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.