GBP to KES: funding and paying out in Kenya
UK providers fund sterling over Faster Payments or CHAPS, convert to shillings through a Kenyan commercial bank at a market-determined rate, and pay out mainly to M-PESA wallets and bank accounts, with PesaLink running 24/7. The main prefunding constraint is that KEPSS, which settles bank funding, runs only 07:00 to 19:00 EAT on business days, while M-PESA caps each wallet at KES 250,000 per transaction, KES 500,000 a day and a KES 500,000 balance.
| Origin | United Kingdom (GBP) |
| Destination | Kenya (KES) |
| Instant rails in Kenya | PesaLink |
| Holiday calendar | Kenya bank holidays 2026 and 2027 |
The market
- Kenya recorded US$5.04 billion of diaspora remittances in 2025 through formal channels, up from US$4.95 billion in 2024 (CBK monthly survey). source
- Remittances from the United Kingdom were US$360.2 million in 2025 (US$357.6 million in 2024), 7.2% of the total; the United States sent US$2.73 billion. source
- M-PESA Global, Safaricom's international money transfer service, handled KShs 647.5 billion across 48.6 million transactions in the year to March 2026, up 16.2% in value. source
- Sending GBP 120 from the United Kingdom to Kenya cost 3.43% on average in Q3 2025 (average fee GBP 1.96, exchange rate margin 1.80%). source
- Personal remittances paid from the United Kingdom totalled US$13.17 billion in 2025 (World Bank data). source
How recipients get paid
| Method | Detail | Source |
|---|---|---|
| mobile wallet | M-PESA wallets carry limits of KES 250,000 per transaction, KES 500,000 per day and a KES 500,000 maximum balance, so large remittances need a bank account payout. | source |
| bank account | PesaLink, operated by the Kenya Bankers Association's IPSL, moves bank-to-bank payments 24/7, including public holidays. | source |
| cash pickup | World Bank price data for the UK to Kenya corridor lists cash pickup offerings alongside bank account and mobile wallet payouts. | source |
Payout rails in Kenya
| Rail | Operator | Hours | Runs on holidays | Source |
|---|---|---|---|---|
| KEPSS (RTGS) | Central Bank of Kenya | 07:00 to 19:00 EAT on business days (extended from 1 July 2025). Closed on weekends and public holidays. | no | source |
| PesaLink | Integrated Payment Services Limited (IPSL), owned by the Kenya Bankers Association | 24 hours a day, 7 days a week | yes | source |
Funding from United Kingdom
| Rail | Operator | Hours and cut-offs | Source |
|---|---|---|---|
| Faster Payments | Pay.UK (settlement in Bank of England RTGS) | 24/7. Net settlement in RTGS three times every business day, so prefunded positions carry over weekends and holidays. | source |
| CHAPS | Bank of England | Usually 06:00 to 18:00 UK time, Monday to Friday, excluding England and Wales bank holidays. Customer payments must be submitted by 17:40; bank-to-bank until 18:00. | source |
| Bacs Direct Credit | Pay.UK (Bacs Payment Schemes) | Three-day cycle (input, processing, arrival) on business days only; weekends and England and Wales bank holidays are non-processing days. | source |
FX and conversion
- Kenya runs a free-floating exchange rate: there is no predetermined rate, and the CBK only steps in to even out extreme fluctuations. source
- The CBK's published rate is the weighted average of registered spot trades in the interbank FX market during the trading session; banks and forex bureaus set their own customer rates. source
- The Kenya Foreign Exchange Code, issued by the CBK to commercial banks in March 2023, sets standards for the wholesale FX market. source
- Money remittance operators must execute each transaction in the currency agreed with the customer and disclose all charges and the conversion rate before or at the point of payment. source
Who pays out in Kenya
| Provider | What they offer here | Source |
|---|---|---|
| Safaricom (M-PESA Global) | Safaricom says M-PESA Global, run by its subsidiary Safaricom Money Transfer Services, lets customers receive money from abroad, with partners including Western Union, MoneyGram, Ria, WorldRemit, Wave and Remitly. | source |
| TerraPay | TerraPay's network page lists Kenya (KES) with both wallet payout and bank payout available; its Kenyan company is a CBK-licensed money remittance provider. | source |
| Thunes | Thunes says J.P. Morgan Payments' Xpedite Remit payouts to bank accounts and mobile wallets through its network will be available in markets including Kenya, and lists M-Pesa among its payment methods. | source |
| Onafriq | Onafriq says its integration with Yuno is live in Kenya, offering mobile money disbursements and payouts to mobile wallets, bank accounts or cash pickup points. | source |
Stablecoin routes
| Provider | Route | Source |
|---|---|---|
| Kotani Pay | Kotani Pay's offramp takes stablecoins such as USDC and USDT and disburses fiat to a mobile money wallet or bank account, with Lipa na M-Pesa receivers supported in Kenya only. | source |
| Yellow Card | Yellow Card's stablecoin payments API lists Kenya for KES sends by bank transfer. | source |
Prefunding this corridor
- All foreign exchange inflows and outflows of a money remittance operator must pass through Kenyan commercial banks, and operators can net off payments with counterparties at settlement. source
- Operators keep customer funds in a designated customers' account at a licensed commercial bank or microfinance bank, and cannot take deposits or act as custodian of customer funds. source
- KEPSS closes at weekends and on public holidays, so bank-funded top-ups wait for the next business day while PesaLink payouts continue. source
- Kotani Pay's offramp requires a funded payout balance in the disbursement currency before fiat is sent, so stablecoin routes still need local-currency prefunding. source
- FCA safeguarding is a condition of authorisation for authorised payment institutions. New CASS 15 rules took effect on 7 May 2026, and firms file monthly safeguarding returns within 15 business days of month end. source
Size the balance you hold in Kenya for payouts during your top-up lead time plus local closures. Check this corridor's runway and the Kenya holiday calendar.
Regulators
- Central Bank of Kenya: Licenses money remittance operators under the Money Remittance Regulations (2013) to handle inbound and outbound international transfers, with minimum core capital of KSh 20 million. source
- Central Bank of Kenya (MRP directory): Listed 37 licensed money remittance providers as at 30 September 2026, including Safaricom Money Transfer Services Limited, TerraPay Money Transfer Services (Kenya) Ltd and Mukuru Money Transfer Ltd. source
- Central Bank of Kenya and Capital Markets Authority: Joint regulators under the Virtual Asset Service Providers Act, 2025, in force since 4 November 2025. Providers already operating must comply, including holding a licence, by 4 November 2026. source
- Central Bank of Kenya and Capital Markets Authority (public notice, 18 November 2025): Stated that neither regulator had yet licensed any VASP under the Act and that licensing would start once implementing regulations were issued. source
- Virtual Asset Service Providers Regulations, 2026: Gazetted on 22 July 2026 as Legal Notice 134 of 2026. Issuing a stablecoin requires CBK approval, and the CBK can direct licensed intermediaries to restrict access to or trading in stablecoins issued outside Kenya. source
- Financial Conduct Authority (origin side): Money remittance is a payment service under Schedule 1 of the Payment Services Regulations 2017, so UK remittance firms need FCA authorisation or registration as a payment institution. source
Seeing this corridor in Polynopsis
Polynopsis shows the balance at each Kenya payout partner, bank and wallet next to your GBP funding accounts and the transfers in flight between them, and warns before the GBP to KES corridor runs dry.
Frequently asked questions
How much can one M-PESA wallet receive?
M-PESA limits are KES 250,000 per transaction and KES 500,000 per day, with a KES 500,000 maximum balance.
When do Kenyan bank rails run?
PesaLink runs 24/7 including public holidays. KEPSS, the CBK's RTGS, runs 07:00 to 19:00 EAT on business days only.
Who sets the KES exchange rate?
The market. Kenya runs a free-floating rate, the CBK publishes a weighted average of interbank spot trades, and banks and bureaus set their own customer rates.
Can a Kenyan remittance operator net settlements?
Yes. The Money Remittance Regulations let operators net off payments with counterparties, but all FX flows must pass through Kenyan commercial banks.
Other corridors
Sources
- Remittances by source (USD '000), monthly to September 2026 · Central Bank of Kenya
- Safaricom PLC FY26 results booklet · Safaricom
- Remittance Prices Worldwide: United Kingdom to Kenya · World Bank
- Personal remittances, paid (current US$): United Kingdom · World Bank
- M-PESA charges and limits · Safaricom
- About PesaLink · Integrated Payment Services Limited
- Remittance Prices Worldwide (complete dataset, 2011 to Q3 2025) · World Bank
- Extension of operating hours for KEPSS (press release) · Central Bank of Kenya
- RTGS PFMI disclosure (Faster Payments settlement cycles) · Bank of England
- CHAPS · Bank of England
- Bacs processing calendar · Bacs (Pay.UK)
- Financial markets: foreign exchange policy · Central Bank of Kenya
- Forex · Central Bank of Kenya
- Kenya Foreign Exchange Code · Central Bank of Kenya
- The Money Remittance Regulations (Legal Notice 66 of 2013) · Kenya Law
- Directory of licensed money remittance providers as at 30 September 2026 · Central Bank of Kenya
- Virtual Asset Service Providers Act, 2025 (No. 20 of 2025) · Kenya Law
- Public notice: commencement of the Virtual Assets Service Providers Act, 2025 · Central Bank of Kenya and Capital Markets Authority
- The Virtual Asset Service Providers Regulations, 2026 (Legal Notice 134 of 2026) · Kenya Law
- The Payment Services Regulations 2017, Schedule 1 · legislation.gov.uk
- TerraPay network coverage · TerraPay
- Thunes powers J.P. Morgan Payments' Xpedite Remit solution · Thunes
- Yuno partners with Onafriq for pan-African payments · Onafriq
- Create offramp request (API reference) · Kotani Pay
- Yellow Card API: Africa coverage (receives and sends) · Yellow Card
- Offramp flow (crypto to fiat) · Kotani Pay
- Safeguarding requirements for payment institutions and e-money institutions · Financial Conduct Authority
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.