Best way to send money to Sri Lanka from Kuwait? Exchange rates comparison.

Question

I want to send KWD 150 to my family every month. I've tried different exchange companies but the rates are all different. Sometimes I feel like I'm losing a lot to fees and bad rates.

What is the best way to maximize what my family receives in Sri Lanka? Which exchange company gives best rates in Kuwait? Or is online transfer better?

Thilak Jayasinghe · Accepted Answer

I've been sending money for 10 years from Kuwait — here's what I've learned:

BEST OPTIONS (2024):
1. Al-Muzaini Exchange: Usually best rates for LKR, very reliable. Branches all over Kuwait.
2. Western Union (at banks): Competitive rates for large amounts, sometimes better than exchange houses.
3. Al Ahli United Bank transfer: Good if you have an account there.
4. Wise (wise.com): Online, very transparent fees, often best rate for mid-sized transfers. Available via Kuwaiti debit card. Usually saves KWD 5-10 per transfer vs exchange houses.

TIPS TO GET BEST RATE:
• Check rates DAILY — fluctuates by KD 10-20 in LKR terms
• Transfer in KWD amounts over KWD 100 for better rates
• Avoid transfer during Kuwait public holidays (rates are worse)
• Compare 3 places before transferring each time
• WhatsApp groups for Sri Lankans in Kuwait often share daily rate updates

For KWD 150: Difference between best and worst rate could be LKR 2,000-3,000 per month — adds up to LKR 24,000-36,000 per year. Worth spending 5 minutes comparing!

Best way to send money to Sri Lanka from Kuwait? Exchange rates comparison.

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