Situated at the tip of the Persian Gulf, Kuwait has a history dating back several thousand years. An oil-rich country with a population of more than 4.2 million people, Kuwait is also a temporary home to thousands of US military personnel operating in the region.
If you ever need to send money from Australia to Kuwait, or from Kuwait to Australia, there are several money transfer companies able to handle the transaction. You just need to compare their exchange rates, fees and features to find the company that offers the best deal.
Send money to Kuwait with OFX
OFX (Ozforex) International Money Transfers
Large range of currencies
Online and phone transfers
Regular payments available
Send money to Kuwait with OFX
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Banks versus money transfer companies
One option when sending an international money transfer is to send a telegraphic transfer from your Australian bank account to a Kuwaiti bank account. However, while this is undoubtedly a safe and secure option, it’s also a costly one – banks charge high transfer fees and typically offer some of the worst exchange rates around.
In recent years, specialist money transfer companies have emerged and now regularly offer a better deal on transfers. These companies, such as OFX and WorldFirst, are foreign exchange specialists and trade in large volumes of foreign currency. This allows them to offer superior exchange rates to the banks which, combined with lower fees, makes them a much more affordable transfer option.
Kevin Sends Money to Kuwait
Kevin’s son Jack is working in the oil industry in Kuwait, and Kevin wants to send his son a $1,000 money transfer as a birthday gift. To find the cheapest option, Kevin decides to compare the cost of sending a transfer with his bank vs sending it via an online transfer company. The results of his comparison are shown in the table below:
Money transfer company
1 AUD = 0.2056 KWD
1 AUD = 0.2160 KWD
Amount received (in KWD)
As you can see, not only can Kevin send KWD10.40 extra by using the money transfer company, but he can also save AUD$20 in transfer fees.
How do I compare transfer companies when transferring and receiving money via Kuwait?
Make sure to consider the following features when considering the pros and cons of money transfer companies:
Exchange rates. The higher the exchange rate, the more money your beneficiary receives. Look for the company that regularly offers the best exchange rates, but be aware that good exchange rates can sometimes come with high fees attached.
Transfer fees. Transfer fees range from zero to north of $50, so it pays to check just how much a transaction will cost before you commit.
Transfer options. Some online transfer providers offer options to help you get the exchange rate you want, for example forward contracts and limit orders. You may also wish to check whether the provider allows you to schedule a recurring transfer in advance.
Transfer methods. Will the funds be sent via electronic transfer or will you need to visit an agent location and pay with cash?
Supported currencies. Check the list of countries to which a transfer provider can send money and also look at the list of supported currencies. Make sure the provider you choose will be able to handle your regular transaction needs.
Processing times. How long will it take from the time you submit a transfer request to the time your beneficiary receives the funds?
Transfer limits. Are there any minimum or maximum limits on the amount you can transfer at any one time?
Receiving options. How will your beneficiary receive the funds - for example will the funds be paid into their bank account or PayPal account, or can they pick up cash from a transfer agent.
Customer service. Is there an online help section with customer support and a range of frequently asked questions? Can you quickly access customer assistance if you ever have a problem with a transaction?
If you ever need to send an urgent cash transfer, remember to take the time to review the full details of your transaction before handing over any money. Emergency transfers tend to attract lower exchange rates and higher fees than ordinary transfers, so even a small transfer could end up costing much more than you expect. Read the fine print closely instead of simply rushing into a transaction.
Cash pickup locations in Kuwait/ Western Union/ MoneyGram branches in Kuwait
With hundreds of thousands of agent locations, Western Union and MoneyGram are the world’s two largest providers of international money transfer services. Some popular cash pickup locations in Kuwait are listed below, but make sure to phone ahead to confirm locations and opening hours. Photo ID and a transaction number will also be required when picking up funds.
360 Mall Grant Supermarket New Branch Kuwait, Kuwait 13001 +965-22411841 Open 8:30am to 10:30pm seven days
Abbasiya 5 Block 10, Building # 26, Shop Abbassiya Abbassiya, Kuwait 13002 +965-22411841 Open 8:30am to 10:30pm seven days
Al Muzaini Exchange Co. Reggae Block - 2, St - 1, Reggae, Alahmadi 2156 +965-4887056 Open 9:30am to 11:30pm Saturday to Thursday, 7pm to 11:30pm Friday
Lulu Exchange Co. Block 54, Building 5, Mohamed Saud Zben Allamia Bldg Mangaf, Ahmedi +965-2-3729744
Al Hanifa Exchange Salem Al Mubark St Kuwait +965-2-5725711 Open 8am to 9pm Saturday to Thursday, 4:30pm to 9pm Friday
Bahrain Exchange Company Al-Shuhada St Murgab Safat 1824000 Open 8am to 11:30pm seven days
Bahrain Exchange Company Fahad Al Salem St Salhiya Complex Murgab 22492350 Open 8am to 11:30pm seven days
Bahrain Exchange Company Al Watiya, 22472086 Open 8am to 11:30pm seven days
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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