How to receive USD in Kenya
To receive US dollars in Kenya, give the payer the details of a USD account in your own name, either at a Kenyan bank or with a provider abroad that accepts Kenyan businesses. Kenya has no exchange controls on these receipts: exporters may keep all their proceeds in dollars, and only foreign exchange deals above $10,000 need documents of their purpose. This guide covers the routes, what to send the payer, arrival times, published costs, platform options and the 2025 law on virtual assets.
- A Kenyan business can receive US dollars into a USD account at a Kenyan bank by SWIFT wire, or into US account details from a provider abroad that accepts Kenya, which a US payer funds by ACH or Fedwire.
- Kenya repealed all exchange control laws in 1993, and exporters may keep all their export proceeds in foreign currency accounts with local banks or convert them to shillings, according to the US International Trade Administration.
- Buying or selling foreign exchange up to $10,000 is unrestricted in Kenya, while larger amounts need documents showing the purpose, mainly for Central Bank of Kenya records.
- 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.
- Payoneer charges 1% (minimum $1) to receive into a receiving account that is not in the user's local currency, and Grey charges 0.8% (minimum $2, maximum $10) to receive a US ACH payment, on their own fee pages.
- Helm does not currently provide USD account details to companies based in Kenya, so Kenyan businesses should use a Kenyan bank or a provider that states it serves Kenya.
How to receive USD in Kenya: the short answer
A Kenyan business paid from abroad has three main ways to receive US dollars. The first is a USD account at a Kenyan bank, which the payer funds by an international wire. The second is a set of US account details, a routing number and account number, issued by a provider outside Kenya that accepts Kenyan businesses, which a US payer funds as a domestic US payment. The third is a payment platform, such as PayPal linked to M-PESA, which usually converts the money to shillings before it reaches you.
Kenya is one of the more open markets in Africa for foreign currency. The US International Trade Administration (ITA) states that Kenya repealed all exchange control laws in 1993, that the exchange rate is fully market-determined, and that exporters may keep all their export proceeds in foreign currency accounts with local banks. There is no deadline to bring dollars home and no duty to sell them for shillings. The questions for a Kenyan business are practical: how the payer pays most cheaply, how long the money takes, what each bank or provider charges, and whether a provider accepts Kenyan companies at all.
This guide is written for the businesses that are paid in dollars from outside Kenya: exporters of tea, coffee, flowers, avocados and other horticulture; software, design, marketing and outsourcing firms with clients in the United States and Europe; consultancies and tour operators; and freelancers who invoice foreign clients. The sections below cover each route, the Kenyan rules, the exact details to give a payer, arrival times, the costs that banks and platforms publish, platform options, stablecoins and where Helm fits. For the account side of the same question, see our guide to a USD business account in Kenya.
The ways to receive US dollars in Kenya
The table compares the routes. It is not a ranking, and many Kenyan businesses use two: a USD account at a Kenyan bank for exports and local spending, and US account details for clients who prefer to pay by ACH.
| Route | How the payer pays | What arrives | Suits | Main point to check |
|---|---|---|---|---|
| USD account at a Kenyan bank | International wire by SWIFT, through the bank's US correspondent | US dollars in Kenya | Exporters of goods and service firms | Correspondent details on the invoice; documents for deals above $10,000 |
| US account details from a provider abroad | ACH or Fedwire, as a US domestic payment | US dollars, held abroad | Agencies, software firms and freelancers with US clients | Whether the provider accepts Kenya and whose name is on the account |
| Payment platform balance | Through the platform, a marketplace or a payment link | US dollars in the platform, then shillings on withdrawal | Freelancers and marketplace sellers | Platform fees and conversion margin |
| PayPal to M-PESA | Payer pays a PayPal account | Shillings in M-PESA | Freelancers and very small firms | 3% fee on the daily rate; per transaction and daily limits |
| Stablecoins (USDC or USDT) | Token transfer on a blockchain | Digital tokens, not dollars in a bank | Firms whose clients insist on it | Use only providers licensed or applying under the VASP Act 2025 |
Sources: International Trade Administration, Kenya Country Commercial Guide, Trade Financing; Safaricom M-PESA PayPal service; Central Bank of Kenya public notice of 18 November 2025. As published on 29 October 2026.
SWIFT is the international network banks use to send cross-border payments, identified by an 8 or 11 character bank code. ACH is the low-cost US domestic bank transfer system that US companies use for routine supplier payments. Fedwire is the Federal Reserve's real-time system for US dollar payments, used for large or urgent amounts. A correspondent bank is a bank that holds an account for another bank and settles payments in its currency; the ITA notes that most major Kenyan banks have correspondent relationships in London and the United States.
How to choose
An exporter of goods paid by letter of credit or documentary collection needs a Kenyan bank, because those instruments run bank to bank and the documents travel with them. A service firm paid by US clients gains most from US account details, because the client's accounts team pays a routing and account number the same way it pays any US vendor, often at no cost to the client. A freelancer with small, frequent receipts may find a platform simplest, but should compare the conversion rate it gives against the rate a bank offers.
Kenya's rules for money received from abroad
Kenya has no exchange controls of the kind found in Nigeria, Pakistan or Bangladesh, where exporters must bring proceeds home within a set period and convert part of them. The ITA's Kenya Country Commercial Guide summarizes the position.
| Topic | Position in Kenya | What it means when you are paid in USD |
|---|---|---|
| Exchange control laws | Repealed in 1993; exchange rate fully market-determined | No central bank approval is needed to receive dollars |
| Export proceeds | Exporters may retain all their export proceeds in foreign currency accounts with local banks, or convert them | Keep dollars for import payments or convert when the rate suits |
| Foreign exchange deals up to $10,000 | Unrestricted | Small conversions need no supporting papers |
| Foreign exchange deals above $10,000 | Documentation of the purpose is required, mainly for CBK records | Keep the invoice or contract ready for each large receipt or conversion |
| Converting and transferring investment funds | No restrictions | Dividends and capital can move abroad freely |
| Residents investing abroad | Amounts above $500,000 need Central Bank approval | Relevant only if you plan to invest dollars outside Kenya |
| FATF status | Kenya was grey listed by the Financial Action Task Force in 2024 | Expect banks and providers to ask about the source of funds |
Source: International Trade Administration, Kenya Country Commercial Guide, Trade Financing (last published 5 July 2024). As published on 29 October 2026.
The Central Bank of Kenya (CBK) licenses and supervises Kenya's banks. The Financial Action Task Force (FATF) is the intergovernmental body that sets anti-money laundering standards; grey listing means a country is under increased monitoring. For a business receiving dollars, it usually means more questions when a large payment arrives from a new payer, so attach the invoice number to every payment and keep the contract on file.
Tax still applies
Freedom to hold dollars does not change tax. Income received in dollars is income of the Kenyan business and is reported to the Kenya Revenue Authority (KRA) in shillings. Record the shilling value on the day each payment is received, and again when you convert, so that the exchange difference is visible in the accounts. Take advice from a Kenyan tax adviser on how your income is treated.
What to give the payer
Most delays and short payments come from incomplete details on the invoice. Send the payer one set of details, in writing, and ask the payer's accounts team to save it as a vendor record so it is used every time.
| Field | For a wire to a Kenyan bank (SWIFT) | For US account details (ACH or Fedwire) |
|---|---|---|
| Beneficiary name | Company's registered name, exactly as on the account | Company's registered name, exactly as on the account |
| Account identifier | The USD account number, not the shilling account | US account number |
| Bank identifier | Bank's full legal name, branch and SWIFT code | Nine-digit routing number |
| Correspondent bank | The US bank your bank uses for dollars, its SWIFT code and your bank's account number there | Not needed |
| Charges | OUR, so the full amount arrives | Not applicable to ACH |
| Reference | Invoice number, and for exports the contract or shipment reference | Invoice number |
Field list reflects standard SWIFT and US payment practice; confirm your bank's standard settlement instructions. As published on 29 October 2026.
OUR, SHA and BEN are SWIFT charge codes. OUR means the sender pays all fees so the full amount arrives. SHA means fees are shared, so intermediary banks may deduct theirs from the amount in transit. BEN means the receiver pays them all. Agree OUR in the contract for large invoices, so the amount credited matches the invoice and you do not chase small shortfalls.
A missing or wrong correspondent bank is the most common reason a dollar wire to Kenya is delayed or returned. Your bank publishes its standard settlement instructions for US dollars; copy them exactly onto the invoice. Check your bank's SWIFT code before you send it out, and for a US client, consider giving US account details instead, which remove the correspondent fields entirely. Our guide on how to receive USD from overseas buyers shows how to set these details out on an invoice.
How long a USD payment takes to arrive
Arrival time depends on the rail the payer uses, not only on your bank.
| Rail | Published timing | What affects it |
|---|---|---|
| ACH (US account details) | About 80% of ACH volume settles in one banking day or less; Same Day ACH accepts payments up to $1 million each | Payer's bank cut-off and whether it uses Same Day ACH |
| Fedwire (US account details) | Real-time gross settlement; final and irrevocable once processed; business day runs 9:00 p.m. ET the previous day to 7:00 p.m. ET, Monday to Friday | Payer's bank hours and US public holidays |
| SWIFT wire to a Kenyan bank | Depends on the number of correspondent banks in the chain | Correspondent checks, missing details, Kenyan and US holidays |
| PayPal to M-PESA | Withdrawal from the PayPal balance into M-PESA in shillings | Per transaction and daily limits set by Safaricom |
Sources: Nacha, "Significant majority of ACH payments settle in one business day or less" (28 August 2023) and Same Day ACH limit; Federal Reserve Financial Services, Fedwire Funds Service operating hours; Safaricom M-PESA PayPal service FAQs. As published on 29 October 2026.
Real-time gross settlement means each payment is settled individually as it is processed, rather than in batches. For a SWIFT wire, give complete details the first time, quote the invoice number, and ask the payer for the SWIFT confirmation, which carries a tracking reference your bank can use to trace the payment if it does not arrive.
What it costs: published fees
Receiving dollars has three cost layers: the payer's bank fee, any correspondent deduction on the way, and your own bank's or provider's charges. A fourth cost, conversion, applies only when you change dollars into shillings. The table shows charges that Kenyan banks and platforms publish. Other banks set their own tariffs, so ask yours for its current tariff guide.
| Provider and item | Published charge |
|---|---|
| Prime Bank Kenya: inward telegraphic transfer | Kshs 700 |
| Prime Bank Kenya: foreign currency cash deposit or withdrawal above $5,000 | 0.25% (1% for small denominations) |
| ABC Bank Kenya: inward electronic funds transfer | Nil |
| ABC Bank Kenya: foreign currency account maintenance and minimum opening balance | Nil |
| ABC Bank Kenya: foreign currency cash deposit handling fee | 0.5% of the deposit |
| Payoneer: receiving into a receiving account not in your local currency | 1%, minimum $1 |
| Payoneer: withdrawal with currency conversion | 1.2% to 4% |
| Payoneer: annual account fee | $29.95, only if the account receives less than $6,000 in 12 consecutive months |
| Eversend: receiving USD by ACH | 0.49% plus $0.49 |
| Eversend: receiving USD by wire | 0.49% plus $10 |
| Grey: receiving USD by ACH | 0.8%, minimum $2, maximum $10 |
| Grey: receiving USD by Fedwire | $20 |
| Grey: withdrawal in shillings | $0.65 to a bank; $0.50 to M-PESA |
| Safaricom M-PESA PayPal service | 3% fee applied to the daily exchange rate |
Sources: Prime Bank Kenya General Tariff (January 2025); ABC Bank Kenya Tariff Guide (updated September 2025); Payoneer fees page (last updated 1 January 2026); Eversend Kenya page; Grey, fees and charges (stated as accurate as of March 2026); Safaricom M-PESA PayPal FAQs. As published on 29 October 2026. Prime Bank states that all its charges attract excise duty. Platform conversion rates include a margin over the mid-market rate, which is a separate cost.
The table shows why the route matters for larger amounts. On a $10,000 receipt, a 1% fee is $100, while a flat Kshs 700 inward charge is the same at any size. For a US client paying by ACH, a percentage fee with a cap can be cheaper than a wire on large invoices and dearer on small ones. Conversion is usually the largest cost of all: if you withdraw to a shilling account, compare the rate offered with the rate your Kenyan bank quotes on the same day.
A nil inward charge at your Kenyan bank does not mean the full invoice amount arrives. Under SHA terms, the payer's bank and any intermediary can deduct their own fees on the way, which is why OUR matters for large payments.
Payoneer, Wise, M-PESA and other platforms in Kenya
Platforms and fintechs, financial technology companies that are not banks, are common for agencies and freelancers. Each one sets its own country list and its own rules. The table records what each provider's own page states, as published on 29 October 2026.
| Provider | What its own page states for Kenya | Point to check |
|---|---|---|
| Wise | Kenya is not on its list of countries where customers can hold money | Not available for holding balances |
| Airwallex | Kenya is not on its list of supported business registration locations | Not available to Kenyan companies |
| WorldFirst | Its Africa offering, including a USD account, is available across Nigeria, Ghana, Kenya and Morocco | Fees shown in its portal |
| Eversend | USD account details in a Kenyan business's name, paid by ACH or wire, with no monthly fee | Whether the details suit your payers |
| Grey | Receives USD by ACH, FedNow and Fedwire, and pays out in shillings to banks and M-PESA | Whether it serves your business type |
| Payoneer | Fees published globally; they depend on locations, payment method and currencies | Fees shown at registration and in the account |
| Safaricom M-PESA PayPal | Withdraw a PayPal balance to M-PESA in shillings; both accounts in the same name | Limits of KES 250,000 per transaction and KES 500,000 per day |
Sources: Wise country list; Airwallex eligible countries; WorldFirst Africa; Eversend Kenya; Grey fees; Payoneer fees page; Safaricom M-PESA PayPal FAQs. As published on 29 October 2026.
Before choosing a platform, ask four questions. Are the account details in your company's own name, or in the platform's name with a reference? Which rails do they accept: ACH, Fedwire, SWIFT or only platform payments? Can you hold dollars, or are they converted on withdrawal? And can you get a statement for each receipt that your bank, auditor and the KRA will accept?
Freelancers and sole traders
Individuals can open personal USD accounts at Kenyan banks with a national ID or passport and a KRA PIN, the personal identification number the Kenya Revenue Authority issues to every taxpayer. Many Kenyan freelancers are paid through marketplaces or PayPal and withdraw to M-PESA, Safaricom's mobile money service. Safaricom's M-PESA PayPal service converts the dollar balance to shillings with a 3% fee applied to the daily exchange rate. A freelancer whose income grows past those limits, or who wants to keep dollars, should add a USD bank account. A freelancer who forms a company should move client payments into an account in the company's name, so business income is not mixed with personal money.
Stablecoins
Some foreign clients offer to pay in USDC or USDT, digital tokens designed to hold a steady value of one US dollar. Kenya now regulates the firms that handle them. The CBK's public notice of 18 November 2025 states that the Virtual Asset Service Providers Act, 2025 took effect on 4 November 2025, with the CBK and the Capital Markets Authority as licensing regulators. As summarized by the law firm Spencer West on 28 July 2026, the Virtual Asset Service Providers Regulations, 2026 set a transition deadline of 4 November 2026 for existing operators. A Kenyan business paid in stablecoins should convert only through a provider that is licensed, or that can show it applied within the transition period, and should record each receipt with the invoice it settles.
Where Helm fits, and where it does not
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm does not currently provide USD account details to companies based in Kenya. A Kenyan business that needs to receive dollars should use a USD account at a Kenyan bank, or one of the providers above that state they serve Kenya.
Helm accounts can receive and send USDC and USDT and convert them to USD. These features are available only where local law allows, and for a company based in Kenya that means working within the VASP Act 2025 and its 2026 Regulations. Helm's general rules are on the eligibility page, and questions about current availability can go to Helm's contact page. Kenyan businesses that also import will find our guide on paying Chinese suppliers from Kenya useful for the PVoC certificate, levies and documents.
Checklist for receiving USD in Kenya
- Open a USD account at your Kenyan bank in the company's registered name.
- Put the full payment details on every invoice: the USD account number, the bank's SWIFT code and the US correspondent bank, never the shilling account.
- Agree OUR charges with payers for large invoices.
- For US clients, decide whether US account details from a provider that accepts Kenya would save them a wire.
- Keep the contract or invoice for every receipt above $10,000, as banks need documents for larger foreign exchange deals.
- Ask for the SWIFT confirmation on every wire and keep it with the invoice.
- Compare a platform's conversion rate with your bank's quote before converting.
- Accept stablecoins only through a provider licensed, or applying, under the VASP Act 2025.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
How can a business in Kenya receive US dollars?
A Kenyan business can receive US dollars into a USD account at a Kenyan bank, which payers fund by SWIFT wire through the bank's US correspondent. It can also use US account details from a provider that accepts Kenyan businesses, which US payers fund by ACH or Fedwire. Kenya has no exchange controls on these receipts.
Do Kenyan exporters have to convert dollars to shillings?
No. The US International Trade Administration states that exporters in Kenya may retain all their export proceeds in foreign currency accounts with local banks, or convert them into shillings when they choose. Kenya repealed its exchange control laws in 1993.
Is there a limit on receiving dollars in Kenya?
There is no cap on receiving dollars. Buying or selling foreign exchange up to $10,000 is unrestricted, and larger amounts need documentation of the purpose, mainly for Central Bank of Kenya records, so keep the invoice or contract for each large payment.
What details does a foreign client need to pay my Kenyan USD account?
The client needs your registered business name, the USD account number, your bank's full name, branch and SWIFT code, and your bank's US correspondent bank with its SWIFT code and your bank's account number there. Ask the client to quote your invoice number and to use the OUR charge code so the full amount arrives.
How much do Kenyan banks charge to receive a USD transfer?
Each bank publishes its own tariff. 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. Correspondent banks may still deduct fees in transit unless the payer uses OUR.
Can I use Wise to receive USD in Kenya?
Wise's help page lists the countries where customers can hold money, and Kenya is not on that list as published on 29 October 2026. Providers that state they serve Kenya include WorldFirst, Eversend and Grey, and Payoneer publishes fees that depend on location, payment method and currency.
How do Kenyan freelancers withdraw PayPal to M-PESA?
Safaricom's M-PESA PayPal service converts a USD PayPal balance into shillings in M-PESA, with a 3% fee applied to the daily exchange rate. Limits are KES 250,000 per transaction and KES 500,000 per day, and both accounts must be in the same name.
How fast does a USD payment reach Kenya?
A US client paying US account details by ACH usually settles in one banking day or less, as Nacha reports for about 80% of ACH volume, and Fedwire settles in real time during its operating hours. A SWIFT wire to a Kenyan bank depends on the number of correspondent banks in the chain and on complete details.
Can a Kenyan business accept USDT or USDC from a client?
Kenya regulates virtual asset service providers under the Virtual Asset Service Providers Act, 2025, in force since 4 November 2025, and its 2026 Regulations set a transition deadline of 4 November 2026 for existing operators. A business paid in stablecoins should use only licensed providers, or those applying within the transition, and record each receipt with its invoice.
Does Helm give Kenyan companies USD account details?
Helm does not currently provide USD account details to companies based in Kenya. Its USDC and USDT features are available only where local law allows, and Kenyan businesses should use a Kenyan bank or a provider that states it serves Kenya.
References
- International Trade Administration: Kenya Country Commercial Guide, Trade Financing
- Central Bank of Kenya: Public notice on the Virtual Assets Service Providers Act 2025 (18 November 2025)
- Spencer West: Kenya's Virtual Asset Service Providers Regulations, 2026, regulatory framework now operational (28 July 2026)
- Prime Bank Kenya: General Tariff (January 2025)
- ABC Bank Kenya: Tariff Guide, updated September 2025
- Payoneer: Fees
- Safaricom: M-PESA PayPal service FAQs
- Nacha: Significant majority of ACH payments settle in one business day or less (28 August 2023)
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.