Buying property from the diaspora has proven to be a challenging activity for many Kenyans leaving there. Dealing with the systems and laws of different countries which are in most cases not aligned makes the process of transferring money quite opaque. Kenyans who choose to embark on the journey towards property ownership have to deal with many moving parts; property due diligence, balance exchange rates, estimate costs all while dodging transfer fees and fraudsters. In recent years, I have heard of countless cases of Kenyans in diaspora who were duped by greedy people who ended up fleecing them of millions. That is why I have decided to create a comprehensive guide on how to transfer money from the diaspora safely and the different ways you can use.
The property purchase process in Kenya
My assumption is that you have done your due diligence effectively before committing to the purchase. At this point, you have ensured that the seller is legit, the project checks out legally, the sale price is fair and documentation is okay. With this assumption, one area you should deeply understand is the property purchase process. This is because how you send money depends on what has been agreed in the process. Let me give you a typical process, so that you know when to send money using an apartment purchase example in different scenarios. You recently expressed interest in buying a KES 10,000,000 apartment in Kilimani the process will look something like;
Scenario 1: Buying Off-plan
- Seller demands a deposit which is usually 10% of the value of the property = KES 1,000,000
- Based on the agreement you have agreed on a 24-month payment milestone to complete the remaining balance
KES 9,000,000/24 months = 375,000 per month
- Upon completion of the payment, you get the sectional title deed of the property.
Scenario 2: Buying land
- You begin by signing a letter of offer and put down 10% of the purchase price.
- You then agree to monthly installments in the sale agreement and the timeframe before you commit to sending any money.
- Upon finishing your pending balance, you are given the title deed with your name on it.
Scenario 3: Lump sum
- The cost of the property is KES 7,000,000 and the seller is demanding the full amount
- After signing the sale agreement, you wire the money to the seller who in turn hands you the title for property ownership.
While I have simplified the process in the scenarios, you will often follow a similar path in most of the transactions you are dealing with. Always account for legal fees, administrative charges and other soft costs like processing fees. While many developers will make an effort to bundle these charges in your purchase price, NEVER assume it, always ask about them.
Different ways of sending money from the diaspora
Now that you are familiar with the purchase process, the next step is to send money back to Kenya. In 2025 alone, the combination of formal and informal remittances to Kenya were KSh 931.8 billion which means that a lot of money was sent back home by folks in diaspora. The channel you use to send money depends on its security, speed, platform charges and transfer limits.
1. Mobile Money apps
In the age of technology, transferring money back to Kenya has been made simple by mobile money apps like Remitly, WorldRemit, Wapi-pay among others. While they have indeed streamlined the process of sending money, I honestly think that they are better suited to personal transactions like sending money to your brother back in Kenya. However, should you choose to use mobile money apps, always factor in the follow;
- The speed of transfer – how many days does the platform take to process the money
- The platform’s security – ensure the platform you use is secure
- Charges & fees – some platforms will charge you higher fees which can lead to you loosing quite a substantial amount of money.
- Online reviews – always check the reviews of the application on trust-pilot or google play to ensure that the app works. If you notice complains about customer care or delayed payments, DON’T proceed.
Pros & Cons of using Apps
| Pros of Apps | Cons of Apps |
| Easy to use for people who are tech-savvy. | No physical support, making it easier to make mistakes. |
| No paperwork required, eliminating unnecessary red tape. | App glitches can delay payments, potentially resulting in penalties from the recipient. |
| Convenient, allowing you to send money from the comfort of your home. | Hidden exchange rates are often less favorable than the standard market rate. |
| Apps automatically keep transaction records for future reference. | Mistaken transfers can be difficult or impossible to reverse. |
| Greater privacy, as only you know the details of your transaction. | May not be available or fully supported in all countries. |
2. Bank wire transfer & Diaspora accounts
Bank transfers and diaspora accounts with local banks are in my books the safest and most cost-effective channels of moving money from the diaspora. For a bank that transfers money in the tune of Billions, moving your KES 3,000,000 might not really be an issue for them. It is also the most preferred channel by developers and property sellers as the bank is a trust-worthy third party. The sheer size of most banks means that customer service or any disputes are easily resolved with just a phone call. Moreover, most mobile apps rely on banks and the traditional banking infrastructure to move money internationally, which means the only advantage you get from the app is convenience.
Pros & Cons of bank wires
| Pros of Bank Wires | Cons of Bank Wires |
| Creates an indisputable paper trail, which is valuable for legal conveyancing and property transactions. | Processing times can be slow due to internal banking procedures. |
| Generally offers lower transfer fees than many mobile money apps. | Large transfers may require you to visit a bank branch in person. |
| Provides access to specialized mortgage products, with loan-to-value (LTV) ratios of up to 90% in some cases. | Know Your Customer (KYC) requirements can be extensive, and time-consuming. |
| Offers currency flexibility, allowing you to convert funds from currencies such as USD or GBP into KES when needed. | Although transfer fees may be low, banks often apply less favorable exchange rates or high flat-rate charges. |
| Well suited for large-value transactions involving millions of shillings or dollars. | |
| Banks can identify and block suspicious or fraudulent accounts, helping protect your funds from scams. |
3. Western Union
Western union is the OG of international money payments globally. Their reach in over 200 countries means you can send money from pretty much anywhere in the globe. The fact that they are among the first global transfer payments means that they command a lot of trust from many people. I would place them up there with banks as my preferred method of transferring money.
Pros & cons of using western union
| Pros | Cons |
| A fixed transaction fee of 2% makes transfer costs predictable. | Exchange rate markups can increase the overall cost of the transfer. |
| Allows daily transfers of up to USD 10,000. | Transfers to bank accounts can take 3–5 business days to complete. |
| Money transfers can be completed in as little as 10 minutes in many cases. | Cash pickups carry a higher risk of loss or theft compared to direct bank deposits. |
| No hidden transaction fees, making pricing more transparent. | Additional charges may apply when sending money directly to M-Pesa. |
| Operates in more than 200 countries and territories, providing extensive global coverage. |
4. Kenyan diaspora banking services
A Kenyan diaspora bank is basically like having your own local Kenyan bank with you back in your country of residence. Imagine Equity bank at your door step in the states or Europe. Banks will typically provide access international remittances, and secure mortgages or investment loans to build assets back home. Moreover, they allow you to bank your money while still in your country and you keep control of the account.
Pros & cons of diaspora banking
| Pros | Cons |
| Offers all the benefits of having a local bank account in the destination country. | Strict Know Your Customer (KYC) requirements can make the account opening process more demanding. |
| Provides access to mortgages, loans, and other financial products. | Foreign exchange rates may be less competitive than those offered by specialized money transfer providers. |
| Dedicated banking services, including access to relationship managers for personalized support. | Delays may occur when physical documents, such as notarized or certified copies, are required. |
| Gives you full control over your savings and how your funds are managed. |
How to pay for property safely from the diaspora
When you are in the diaspora, paying for your property here in Kenya might become a bit tricky for you as you are far away. This means that doing physical follow-ups might not be possible, because of this distance, I advise clients to try and use the clearest method possible when moving money.
1. Use of escrow accounts
An escrow account is a third-party account which holds your money until the agreed conditions between you and the seller are met. If you fail to reach an agreement with the seller, then the holder of the escrow account reimburses your money. In Kenya, escrow accounts are provided by commercial banks and legal advocates. I typically recommend using escrow especially if you are buying an off-plan project. A great example would look like;
You decide to purchase a property off-plan and agree to milestone payments each time the developer casts a slab. You place your money in escrow and every time the developer sends proof that they have cast the slab, you ask the escrow holder to release funds to them. This ensures your payments are directly tied to progress in the project and chances of losing your money are quite low.
2. Direct bank transfers
Another secure way to buy property is to use direct bank transfers. As I have previously mentioned, the only secure way to move money is using straightforward methods. Directly moving the money from your bank account to the developer or seller’s account can help with this. Of course a caveat is that the seller must be VERIFIED. If you are having any second guesses about them, then don’t transfer the money.
Mistakes people make when sending money from diaspora
1. Sending money to personal accounts
One huge mistake I have seen people in diaspora make is transferring money to personal accounts, especially when dealing with off-plan projects. Of course there are some cases where you may send money to a personal account, e.g., if you are buying land from an individual. However, my advice for you if you are in diaspora is to only use REGISTERED LAND SELLING COMPANIES. This is more secure than buying from a single individual especially if you are not in the country.
2. Ignoring exchange rates
Another mistake is ignoring exchange rates especially if you are using an app. Majority of the platforms are FREE to use because they make their money from exchange rates. Some institutions like banks will woe you in using the ‘0% commission’ rate but you end up spending more because of the higher exchange rate. Let us take the example of someone moving $10,000 from the U.S
The mid-market rate is 1 USD = 129.20 KES
Your platform gives you a weaker exchange rate of 1 USD = 124.20 KES
| Scenario | Exchange Rate (KES/USD) | Calculation | Amount Received (KES) |
| Mid-market rate | 129.20 | $10,000 × 129.20 | 1,292,000 |
| Platform rate | 124.20 | $10,000 × 124.20 | 1,242,000 |
| Loss due to weaker exchange rate | 5.00 KES/USD | 1,292,000 − 1,242,000 | 50,000 |
In this instance, you are losing KES 50,000 due to the weaker exchange rate. If you can find a platform with a stronger exchange rate, then you will save money.
3. Failure to document transfers
While modern day tech-platforms and mobile banking make documentation easier, I strongly recommend having a way of documenting your own transfers. This could be printing out the receipts or filing your deposits. In the event that a legal dispute occurs, then you have concrete evidence about your payments which can serve as proof in a court of law.
4. Only relying on verbal agreement
Sometimes people end up being too trusting especially in land deals, because of this, they exchange verbal agreements and never bother to put anything down in writing. I have dealt with so many cases of people in the diaspora who sent a relative to buy for them land and the person ended up registering the title in their name instead of the buyer. That is why I will always insist on having a formal agreement, written on paper whenever you decide to engage in any transaction.
