I have a relative who is Kenyan. I would like to be sending some assistance money to her, every now and then.
Is Western Union the best way to send? If you send $120, for example, the fee is $10.50.
The exchange rate last week, with Western Union, was $1.00 for 83.66 shillings.
Is this a good deal or is there a more cost-efficient way of sending money?
Alternatively, I've thought of opening a bank account in America and sending her its debit card so that she can withdraw from a Nairobi ATM, whenever I make a deposit here. I'm told that this method is being used by some people around the world. But I need a better understanding of Kenyan banks. Has anyone ever withdrawn money from a Kenyan ATM, if so do you have to pay a fee twice (from American and Kenyan bank)?
I have done a search on this site and could not find a discussion on this particular issue.
Any tips will be highly appreciated.