Sending money abroad to support loved ones in Kazakhstan or pay bills back home is a common need for many expats and members of the Kazakh diaspora worldwide. However, finding the most affordable way to transfer money quickly and securely to Kazakhstan can be challenging with so many remittance providers to choose from.
This article outlines the main options for money transfers to Kazakhstan from major sending countries like the United States, United Kingdom, Russia, and Germany. By comparing the fees, exchange rates, transfer speeds and delivery methods of leading money transfer operators in the Kazakhstan remittance market, readers can analyze the pros and cons of services like Western Union, MoneyGram, Ria, TransferWise, Remitly and more.
Whether you need to make regular repayments or want to send a one-time payment for an occasion, this guide aims to help you identify the most cost-effective service tailored to your specific sending country and transfer needs. We weighed key factors like transparency of pricing, transfer limits, locating agents and pickup points in Kazakhstan to provide practical recommendations. By the end, you should have the information needed to confidently select an operator and transfer money from overseas to recipients anywhere across Kazakhstan – whether in bustling Almaty and Nur-Sultan or smaller towns and rural areas. Equipped with these insights, sending money back home should be faster, safer and more affordable.
Kazakhstan’s Currency – the Kazakhstani Tenge (KZT)
The currency of Kazakhstan is the Kazakhstani Tenge, abbreviated as KZT. The Tenge, symbolized as ₸, is the official monetary unit of Kazakhstan and has been in circulation since 1993, following the country’s independence from the Soviet Union. The Tenge is further subdivided into 100 tiyn. This currency plays a pivotal role in the Kazakhstani economy and is widely used for everyday transactions, trade, and financial activities. The exchange rate of the Kazakhstani Tenge fluctuates in response to various economic factors and global market conditions. Both residents and visitors to Kazakhstan need to be familiar with the currency and its current exchange rates when conducting financial transactions or traveling within the country.
What Are the Best Companies for Transferring Money to Kazakhstan?
When it comes to transferring money to Kazakhstan, several reputable companies offer convenient and reliable services, catering to the diverse needs of senders from around the world. One notable option is Revolut, which has a global presence, including Germany/Europe, the United Kingdom, and the USA. Revolut facilitates transfers in multiple currencies, such as EUR, GBP, and USD, providing senders with a wide range of options to choose from. MoneyGram is another prominent choice, with its availability in Germany/Europe, the United Kingdom, and the USA. MoneyGram allows transfers in various currencies, including EUR, GBP, and USD, ensuring flexibility for senders.
CurrencyFair is a noteworthy provider, serving customers in Germany/Europe, the United Kingdom, and the USA. This platform supports transfers in currencies like EUR, USD, and GBP, making it a versatile choice for senders. Xoom, an option available in Germany/Europe, the United Kingdom, and the USA, specializes in USD transfers, simplifying the process for those who prefer this currency.
For those looking to send money to Kazakhstan while enjoying a variety of currency options, TransferGo is a viable solution. TransferGo operates in Germany/Europe and the United Kingdom and supports transfers in KZT, USD, and EUR. Western Union is a reliable choice, particularly for those sending money to Kazakhstan in KZT, and it serves customers in Germany/Europe, the United Kingdom, and the USA.
Remitly, operating in Germany/Europe, the United Kingdom, and the USA, is an excellent option for USD transfers to Kazakhstan. Finally, XE, available in Germany/Europe, the United Kingdom, and the USA, offers versatility with options for transfers in EUR, USD, and GBP.
These trusted companies provide a range of sender’s currencies, ensuring that senders can choose the most convenient and cost-effective method for transferring money to Kazakhstan from their respective locations. Whether you prioritize currency exchange rates, transfer speed, or specific sender’s currencies, these providers offer flexibility and reliability for international money transfers to Kazakhstan.
What Is the Fastest Way to Transfer Money from to Kazakhstan?
When it comes to finding the fastest way to transfer money to Kazakhstan, several reputable providers offer efficient services for senders. Among these options, Revolut stands out as a quick and convenient choice, allowing users to send funds to Kazakhstan swiftly. MoneyGram is another reliable option known for its speedy transfers, ensuring that money sent through their platform reaches the recipient promptly. CurrencyFair, Xoom, and Remitly also prioritize efficiency, offering relatively fast transfer times to Kazakhstan.
Western Union is a trusted name in the industry and provides a secure and efficient way to send money quickly to Kazakhstan. XE offers flexibility, allowing senders to choose their preferred currency and ensuring that transfers are completed with reasonable speed. When selecting a provider, it’s essential to consider both the speed and associated fees to make the most informed choice based on your specific needs.
What Is the Cheapest Way to Transfer Money to Kazakhstan?
When seeking the most cost-effective method to transfer money to Kazakhstan among the listed providers, MoneyGram emerges as the top choice for budget-conscious individuals. MoneyGram consistently offers competitive exchange rates and lower fees, ensuring a significant portion of your funds reaches the intended recipient in Kazakhstan. While Revolut, CurrencyFair, Xoom, Western Union, Remitly, and XE also provide various advantages, it’s noteworthy that MoneyGram’s cost-effectiveness sets it apart as the preferred option for those looking to maximize the value of their international money transfers to Kazakhstan. To make an informed decision that aligns with your specific transfer requirements, it’s advisable to compare the rates and fees offered by these providers.
Should You Transfer Money to Kazakhstan Using Your Bank?
When contemplating transferring money to Kazakhstan, using your bank may not be the most advantageous option. Banks often come with a significant drawback in the form of high costs. They typically impose substantial fees, including both upfront charges and hidden costs due to unfavorable exchange rate markups. These additional expenses can substantially diminish the final amount received by the recipient in Kazakhstan.
In contrast, specialized remittance services and online money transfer platforms tend to offer more competitive exchange rates and lower fees. This pricing strategy ensures that a larger portion of your sent funds effectively reaches the intended recipient, making these services a more cost-effective choice for international money transfers.
Moreover, the speed of fund delivery is a crucial consideration. Bank transfers can be notably slower, often due to the involvement of multiple intermediary banks, leading to delays and uncertainty for both the sender and the recipient. Conversely, money transfer sites and specialized remittance services prioritize speed and efficiency, with many capable of completing transfers much more quickly, sometimes within minutes. This expedited process ensures that recipients in Kazakhstan can access the funds promptly, without unnecessary delays.
Considering factors like cost efficiency and timely fund delivery, opting for specialized remittance services or online money transfer platforms over traditional bank transfers is likely the more beneficial choice when sending money to Kazakhstan.
How to Send Money to Kazakhstan? Step-by-Step Guide
Sending money to Kazakhstan through online transfer services is a straightforward and efficient process. Here’s a step-by-step guide to help you navigate it:
- Choose a Money Transfer Service:
- Start by researching reliable money transfer services like Revolut, MoneyGram, CurrencyFair, Xoom, Western Union, Remitly, or XE.
- Consider essential factors such as exchange rates, transaction fees, transfer speed, and customer reviews.
- Ensure the chosen service is available in your country and supports transfers to Kazakhstan.
- Create an Account:
- Visit the website of your selected provider and sign up for a new account.
- Complete the registration form with your personal details, including your name, address, and contact information.
- Provide a valid form of identification to comply with security and regulatory requirements.
- Fulfill any necessary verification steps, such as email or phone confirmation.
- Initiate a Transfer:
- Log in to your account.
- Navigate to the money transfer section.
- Enter Transfer Details:
- Specify the amount you wish to send, and the website should display its equivalent in Kazakhstani Tenge (KZT) or other available currencies based on the current exchange rate.
- Provide the recipient’s information, including their name and, if it’s a bank deposit, their banking information. Double-check for accuracy.
- Review and Confirm:
- Carefully review all transaction details, focusing on the exchange rate and any applicable fees.
- Confirm that all recipient details are accurate.
- Choose Payment Method:
- Select your preferred payment method, which may include bank transfers, debit/credit cards, or other online payment options.
- Consider processing times or fees associated with each method.
- Complete the Transaction:
- Confirm and complete the payment.
- Note the transaction confirmation and tracking number for future reference.
- Track the Transfer:
- Use the tracking number to monitor your transfer’s status on the service provider’s website.
By following these steps diligently, you can ensure a smooth and secure process for sending money to Kazakhstan through online transfer services.
How Can You Find the Best Transfer Rate to Kazakhstan?
RemitStack is here to assist you in finding the most competitive transfer rates for sending money to Kazakhstan. Our platform has been carefully designed to provide you with a user-friendly and efficient experience. We excel in conducting thorough comparisons among a wide range of money transfer providers, using our in-depth industry knowledge and expertise. At RemitStack, we prioritize essential factors like exchange rates, service fees, transfer speeds, and provider reliability to ensure that our users can identify the most cost-effective and efficient options tailored to their specific needs.
Our platform proves especially valuable for individuals and businesses looking to optimize their financial transactions, making it easy to secure the most advantageous deals when transferring money to Kazakhstan. Whether you have personal or business transfer requirements, RemitStack is committed to offering current and comprehensive comparisons. Our primary goal is to simplify the process of selecting the right money transfer service, providing transparency and clarity to empower our users to make well-informed decisions that perfectly align with their transfer needs.
With RemitStack, users can confidently navigate the complexities of international money transfers, knowing that they have access to the best available rates and services in the market. We are steadfast in our commitment to simplifying this often intricate process, serving as a dependable resource for those seeking optimal financial solutions for their international transfer needs to Kazakhstan. Count on RemitStack to help you effortlessly find the best transfer rates.