What "mid-market rate" means
Mid-market rate is the midpoint between the buy and sell rates that banks trade at with each other. It is the "fair" rate. When you transfer money, the remittance provider applies a margin to the mid-market rate. The margin is how they make money. Wise charges roughly 0.5% above mid-market, traditional banks 2 to 4%.
Top Kenya remittance corridors
- USD → KES: largest corridor, US diaspora to family
- GBP → KES: UK diaspora, second-largest
- EUR → KES: EU diaspora (Germany, Netherlands, France)
- AED → KES: UAE diaspora, third-largest by volume
- AUD → KES: growing Australian diaspora
- CAD → KES: Canadian diaspora
- SAR → KES: Saudi diaspora workers
- ZAR → KES: regional Africa
See our diaspora hub for the cheapest provider on each corridor.
For diaspora users
If you are sending money home, do not just convert at mid-market and expect that amount to land. Use our diaspora send calculator which factors in provider fees and the actual exchange rate offered.