Kenya’s Equity Bank, VFX to launch online money transfer service from UK

Kenya-based Equity Bank Group has partnered with VFX Financial to launch Equity Direct, a real-time multicurrency money transfer service from the UK to Kenya.

Kenya-based Equity Bank Group has partnered with VFX Financial to launch Equity Direct, a real-time multicurrency money transfer service from the UK to Kenya.

The new Equity Direct online money transfer service will allow people in the UK to send money in different currencies including EUR, GBP and USD to any Equity Bank account in Kenya.

The money can be sent at competitive foreign exchange rates. Around $10,000 can be sent from the UK to Kenya at a cost of only £4.

VFX CEO, Nick England, said their convenient and transparent low cost remittance solution results in more money arriving to Kenya from the UK faster and easily.

Equity Bank Group CEO, Dr James Mwangi, said they want their customers in and out of the country to have the different options of remittance that is most convenient to them.

"Equity Direct is focusing on the UK market as UK is one of key remittance corridors for Kenya. Equity Group has invested heavily in creating infrastructure for diaspora remittances, and banking and transaction processing by connecting to all global payment systems as a result of installing a robust system that allows for the innovation of products and services that deliver convenience and affordability to our customers both locally and abroad," Mwangi added.