Kuwait is an easy country to send money to. There are several great options available to you no matter what you are looking for in your international money transfer service of choice.
The current exchange rate for the Kuwaiti Dinar (KWD) is 0.305099 KWD per American Dollar (USD) as of the time this was written. The KWD reached a high of 0.3051 KWD per USD and a low of 0.3040 KWD per USD during the last 90 days. The average exchange rate for the last 90 days was 0.3047 KWD per USD.
The KWD had an average volatility rate of 0.09% against the USD over the last 90 days. This is a remarkably stable currency. Going forward, you can reasonably expect only minor fluctuations to continue, barring any unforeseen circumstances.
The fastest way to send money to Kuwait is through Western Union’s fast service. With Western Union’s fast service, your money should reach its Kuwaiti destination in around an hour. The transfer time with Western Union’s fast service is often only a matter of minutes. Western Union is also a safer and more ubiquitous company when compared to the competition.
The main downside to using the fast option offered by Western Union is that it is relatively expensive.
The cheapest way to send money to Kuwait is through OFX. With OFX, you are getting the best rates on the market. OFX doesn’t charge an upfront, stated fee, but instead charges a small percentage of each transaction. The more money you send through OFX, the lower their currency conversion fee becomes.
The main thing you have to keep in mind with OFX is that they have a minimum transfer size requirement which is much higher than that of their competition. Despite this, you do save considerable amounts of money when you make larger transfers through OFX.
Once you set up an account with them (easy) and fill in the details of the recipient, OFX is the easiest way to send money to Kuwait. OFX customers often praise their money-transfer company of choice for making sending money both easy and incredibly cheap. Again, the only downside is that they have a higher minimum transfer requirement which many people can’t abide by.
OFX is also the overall best way to send money to Kuwait. With unbeatable rates and an intuitive platform, OFX makes sending money to Kuwait fairly stress-free. While they aren’t the fastest service available to you, their one to two day waiting times are highly competitive. When all factors are considered, OFX is simply better for sending money to Kuwait.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com