List of best banks with dollar & foreign currency accounts in Kenya

There are many banks in Kenya which offer you the opportunity to save money in dollars. The account will help you buy products from abroad, cushion you against depreciation of Kenyan shilling.

Below is a list of the banks with dollar accounts in Kenya:

 ABSA Bank Foreign Currency Current Account

Benefits of this account

• Negotiated exchange rates
• USD visa debit card
• International money transfers
• Manage your account via mobile and internet banking
• Unsecured personal loans in USD and EUR
• Access mortgage in foreign currency USD, GBP and EUR

Requirements for this account

• Monthly fee of USD 7.30
• No minimum balance required to open the account
• No maintenance fee charged for Prestige and Premier customers

What you need to apply online 

• KRA PIN
• National identity card (Kenyan) or passport (Kenyan)
• Signature specimen

What to bring if you apply at a branch

• KRA PIN
• National identity card (Kenyan) or passport (non-Kenyan)
• 1 passport photo
• Work/business permit (Non-Kenyans without KRA PIN)

Standard Chartered Bank Foreign Currency Account

ligibility & Documents

Eligibility

• Initial deposit

Equivalent of Kes. 100,000

• Requirements

No minimum monthly average balance

Documents

• Business Account Opening Form
• Company Memorandum of Articles of Association (M&A)
• Financial statements for most recent 12 months (if business is older than 1 year in existence)
• Certificate of Incorporation / Registration
• Contact us for more details on the rest of the required documents

Available in Multiple Currencies

Available in USD, AUD, CHF, EUR, GBP, HKD, JPY & NZD.

1&M Bank Sapphire FCY Account

Account Opening Requirements

Kenyan Citizen
National ID card/Passport | Your Photo will be taken at the branch or you can come with a digital copy

Foreign Nationals
Passport | Work Permit/Dependent Pass | Your Photo will be taken at the branch or you can come with a digital copy

Simply visit any I& M Bank branch today to open your account or enter your details below and one of our representatives will get in touch with you.

Features

• Account opening balance

USD/EUR/GBP 100 or equivalent in other currencies.

• Account maintenance charges

Nil

• Transaction ledger fees

Nil

• Quarterly account statement

Free via email (or at your preferred frequency).

• I&M USD Visa Debit card*

Available for USD accounts only (Attractive reward points on Debit Card POS/Online transactions)

• Access to Electronic Banking Channels ( Mobile and Internet Banking)

Free

• Interest payment

Accrued on daily balances and paid quarterly

• Cheque Book

Available at USD 0.2 per leaf

• Cash transactions

Cash deposit fee apply as per tariff

• Chinese Yuan and UAE Dirham accounts

Available (Contact us for details)

National Bank Foreign Currency Current Account

What is required

• Your original and copy of your ID/passport
• 1 passport photo (taken at the branch)
• PIN certificate
• Proof of address/source of funds

 Rates and fees

• Opening balance – USD 100; EUR 100; GBP 100
• Ledger fee – USD 10 for balances below USD 2,000
• Ledger fee – EUR 6 for balances below EUR 2,300
• Ledger fee – GBP 3.50 for balances below GBP 1,400

NCBA Bank Foreign Currency Accounts

Gold All-in-One Account

Maximised value for minimum costs. This account gives you access to all the advantages of our All-in-One accounts with a low, one-time monthly fee.

Opening balance Zero

ATM Charges Zero

Access to Visa Card

Access to Mobile Banking

The flat, monthly fees of The Bundled Tariff 1 account gives you access to:

• Free processing of incoming salary.
• Free cheque books and banker’s cheques.
• No charges on set-up, processing and amendments of direct debits and standing orders.
• Free local currency banker’s cheques.
• Free foreign currency banker’s drafts.
• Sweep facilities across current accounts.
• Free funds transfers to other NCBA accounts.
• Monthly e-statements,
• No charges on NCBA Bank ATM withdrawals.

Premier All-in-One Account

If you are someone who transacts often, this is the account for you. The flat, monthly fees of The Premier All-in-One account gives you access to:

Opening balance Zero

ATM Charges Zero

Access to Online & Mobile Banking

Access to Debit Card

• Free salary processing.
• Free chequebook.
• Zero charges on set-up, processing, and amendments of direct debits and standing orders.
• Free local currency banker’s cheques.
• Free foreign currency banker’s drafts.
• Free inter-account transfers.
• Monthly e-statements.
• Zero charges on NCBA Bank ATM withdrawals.

Platinum All-in-One Account

Straightforward banking for a reasonable fee. This account gives you the peace of mind of transacting as much as you wish without increasing charges.

ACCESS TO Debit card

MINIMUM OPERATING BALANCE ZERO

ATM Charges Zero

Access To Mobile Banking

The flat, monthly fees of The Bundled Tariff 1 account gives you access to:

• Free processing of Incoming salary.
• Free cheque books and banker’s cheques.
• No charges on set-up, processing and amendments of direct debits and standing orders.
• Free local currency banker’s cheques.
• Free foreign currency banker’s drafts.
• Sweep facilities across current accounts.
• Free funds transfers to other NCBA accounts.
• Monthly e-statements,
• No charges on NCBA Bank ATM withdrawals.

Cooperative Bank Transactional Account

Do your regular bank transactions safely and securely from anywhere in the world from your Jamhuri Personal Account in KES, USD, GBP, or EURO

Accessing your money is easy – open an everyday account to make the most of it from anywhere in the world. This account can be opened in the name of an individual or joint names.

Features

• No ledger fees
• No minimum operating balance
• Free internal standing orders
• KES 30 transactional fees
• Mailing charges
• Negotiated forex rates
• Free internet banking
• Minimum balance
  • KES 5,000
  • USD $100
  • GBP £100
  • Euro €100

Requirements

• Complete application form
• Passport/Kenyan ID
• Proof of address
• Passport photo
• PIN certificate
• Any other document the bank may deem fit

KCB Transactional Accounts

What is required

• Must reside abroad
• Valid Kenyan passport or national ID
• KRA PIN certificate
• Notarized proof of address e.g. utility bill, driving license etc.
• Duly signed FATCA form for USA citizens
• Colored passport sized photo

*A bank representative may call you at any time to obtain further information in line with our KYC process. At no point shall you be asked for your PIN or passwords.  Remember, PIN yako siri yako.

Account Rates & Fees* 

• Kes 2000 opening balance
• No minimum operating balance
• No ledger fees
• ATM card ***
• Access to online banking

*Charges are not inclusive of tax

Bank in Foreign Currencies

Available in the following currencies: USD, GBP, EUR, AUD, CHF, CAD, ZAR (US Dollar, Sterling Pound, Euro Australian dollar, Swiss francs, Canadian Dollar, South Africa Rand)

Unlimited withdrawals

Enjoy unlimited withdrawal of your money from your bank account

Unlimited deposits

No restrictions on the amount of deposits to be made into your bank account

No ledger fee charged

No monthly ledger fee is charged if balance of USD 1000 or equivalent in other currencies is maintained

Diamond Trust Bank Foreign Currency account

These accounts are best suited for accumulating savings in foreign currency deposits. To view the applicable foreign currencies, please check out the product features section below.

Benefits

• No ledger fees
• Free monthly e-statements
• No account maintenance fee

Features

• Currency – US Dollars (USD), Euro (EUR) and Great Britain Pounds (GBP)
• Opening amount – nil
• Minimum balance – nil
• Channels / account & information access – internet banking (optional), e-statements
• Attractive interest rate on balances over USD 5,000

Charges

• Deposit / withdrawal charges – N/A
• Cash handling fee – 0.5% on amounts equivalent or above 5,000 (USD, GBP or EUR )
• Minimum monthly fee – nil
• Ledger fee (per transaction) – nil

Bank of Africa Kenya Mwanariadha account

BOA appreciates the remarkable contribution our athletes play by lifting the Kenyan flag high and their individual contribution in the society. It is in this regard that the Bank has developed a distinctive package with features and benefits that will further contribute to your sporting activities. This package will also be suitable for other sportsmen i.e. footballers, rugby players.

Waivers:

• No charge on incoming wire transfers.
• No charge on withdrawal and deposit of Kenya Shillings and foreign currency.
• No charge on internal transfers within Bank of Africa Kenya (BOA-KENYA).
• No charge on monthly ledger fees on both Kenya Shillings and foreign currency accounts.

Benefits:

• Interest payable every end of the month on the monthly average credit balances.
• Competitive foreign currency exchange rates.
• Prepaid VISA card issued on application.
• Regular seminars on investment, financial planning and life skills.
• Advance payment on earnings expected (terms and conditions to apply).

Features

• Low opening balance: USD 100, EUR 100 and GBP 100; Kshs. 1,000
• Cheque book issued.
• Interest on current account is up to 0.5% P.A.

Stanbic Bank Kenya Borderless Banking

Some of the benefits

Convenience

Have instant access to funds in any account you hold with us across our multiple East Africa markets

Payment transfers

Ability to make over the counter payment transfers to accounts within the three entities

Multiple Currencies

The transactable currencies will be US dollars (USD), British Pound (GBP), the Euro (EUR), South African Rand (ZAR), Uganda Shilling (UGX), Tanzania Shilling (TZS), Kenya Shilling (KES

Real-time Cash Transactions

Over the counter cash withdrawals and deposits in local and foreign currency

What you get

• Ability to inquire domicile account statements in a foreign country• Real-time Cash Withdrawals
• Over the counter cash withdrawals and deposits in local and foreign currency
• Ability to make over the counter payment transfers to accounts within the three entities

What you need

• Ability to inquire domicile account statements in a foreign country• Real-time Cash Withdrawals
• Over the counter cash withdrawals and deposits in local and foreign currency
• Ability to make over the counter payment transfers to accounts within the three entities

See general T&Cs

• An Account with Stanbic Bank (Tanzania, Kenya, Uganda & South Sudan)
• A valid Identity card

Kingdom Bank Foreign Currency account

Convenient foreign currency accounts that are available in US Dollar, Sterling Pound and Euro Currencies

• 01

USD-$ Current Accounts:

Minimum balance: $25 Monthly charges: $5

• 02

GBP-£ Current Accounts:

Minimum balance: £20 Monthly charges: £5

• 03

EURO-€ Current Accounts:

Minimum balance: €25 Monthly charges: €5

• 04

USD-$ Savings Account

Minimum balance – $50, Withdrawal charges (limited to one free withdrawal per quarter) – $15, Interest earning per month – 0.5%, Interest earning balance – $3,500

• 05

GBP-£ Savings Account

Minimum balance – £ 50 Withdrawal charges (limited to one free withdrawal per quarter) – £ 15 Interest earning per month – 0.5% Interest earning balance – £ 3,500

• 06

EURO-€ Savings Account

Minimum balance – € 50 Withdrawal charges (limited to one free withdrawal per quarter) – € 15 Interest earning per month – 0.5% Interest earning balance – € 3,500

Enjoy Access to

Mobile Banking, Internet Banking and E-Statements.