The banking sector is currently dominated by local banks, although the government is in the process of issuing licences to international banks.
A number of the local banks offer services akin to those found in most international banks worldwide, including savings and current accounts, credit cards, loan facilities, and online banking
Bank charges vary slightly from bank to bank, but if you use your bank card to withdraw money from another bank’s ATM, expect to pay 200 fils. Use of your own bank’s ATMs is free. Credit cards are issued on approval and you will need to hold an account at the bank into which your salary is transferred every month.
Banks are open Sunday to Thursday.
Banking hours are generally from
08:00 AM to 13:00 PM.
Evening openings are generally from
17:00 PM to 19:00 PM.
Exchanges are open Friday afternoon to Thursday.
Working hours are generally from
08:00 AM to 12:30 PM.
Evening openings are generally from
16:00 PM to 20:00 PM.
Current accounts, although not common, are available. Accounts are available in either US dollars, pounds sterling, euros or Kuwait dinars.
It is a criminal offence to issue a cheque when there are insufficient funds in the account. A bounced cheque is taken very seriously and will usually result in arrest.
Al Ahli Bank of Kuwait 189 9899 www.eahli.com
Bank of Bahrain & Kuwait 2241 7140 www.bbkonline.com
Burgan Bank 2243 9000 www.burgan.com
Central Bank of Kuwait 2244 9200 www.cbk.gov.kw
Commercial Bank of Kuwait 2241 1011 www.cbk-online.com
Gulf Bank 180 5805 www.gulfbank-online.com Industrial
Bank of Kuwait 2245 7661 www.ibkuwt.com
Kuwait Credit & Saving Bank 2241 1311
Kuwait Finance House 180 3333 www.kfh.com
Kuwait Real Estate Co. 2245 8177
National Bank of Kuwait 180 1801 www.nbk.com
Changing money in Kuwait will probably be a regular requirement for your expat life in Kuwait. Most common transactions are Kuwaiti Dinar to pounds, Kuwaiti Dinar to euro or US Dollars Kuwaiti Dinar.
Expats can expect major changes to take place in their daily lives upon moving in a new country. One of the important new aspects that expats will face is often related to currency, money transfer. Because the market can be unpredictably volatile, there is an even greater need to take cautious steps when looking for Money Transfer Kuwait. In this section, you will find the best resources to help. Foreign exchange specialists are here to help you.
Most of the foreign exchange brokers named on our comparison table will offer you rates that are far better than traditional banks.
As these specialists transfer thousands of Pounds, Euros, Rupees and Dollars every day, they can offer a better exchange rate while still making a very little margin for themselves.
List of Reputed Exchanges in Kuwait
|AL MULLA INTERNATIONAL EXCHANGE CO.|
Courtesy : visit-kuwait.com
Kuwait Bahrain Internationl Exchange Co.
Issa Abdulla Al Othman Building
UAE Exchange Centre WLL
P B NO.26155,SAFAT 13122,AL RABIA BUILDING, SHUHADA STREET,OPP.KPTC & SAFAT POST OFFICE,
Tel : +965- 22544605
Fax : +965-22548810
SAFAT, P.O.Box 25965
Jleeb Al Shuyoukh (Abbasiya)
Building 55, Kuwait City
P.O. Box 26057
Al Muzaini Exchange Company
Bahrain Exchange Company
Source : Excerpted from expatfinder.com, visit-kuwait.com. kuwait-info.com.
City International Exchange
City International Exchange, the premier Exchange Company of Kuwait was established in September 1984.Major operation of this Exchange Company, is in the handling of remittances of expatriates in Kuwait, most of whom are nationals of India, Philippines, Sri Lanka, Bangladesh etc. Quite many American, British, Canadian and other nationals working in Kuwait in Education, Trading and Oil sectors also send their remittances to all major financial centres of the world through us. If customer loyalty is any indication, hundreds of expatriates throng to this Company despite competition prevailing in Kuwait because of prompt, efficient service, good rates and safety of transactions with a proven track record.
• All the branches of City International Exchange use the state of the art technology to facilitate record Turn - around time for transactions of our customers.
• Courteous & ever helpful staff man the counters at all our branches
• Customer friendly rates and service charges
• Mistake free transactions are ensured with the built in systems & processes set in place
• Relationships with the best correspondents across the world to facilitate transactions
• We ensure that we are always there for you. Hence our branches at critical locations like Mirqab, Fahaheel & Watiya are open from 8.30 am to 8.30 pm straight. And on Fridays all our branches are open straight.All this and high levels of customer satisfaction has ensured our place as the premier exchange company in the state of Kuwait.
City International Exchange offers the below mentioned services for our customers:
• Telex Transfers
• Electronic Funds Transfers
• RTGS & NEFT
• Cash payment
• American Express Traveler's Cheques
• Cash currencies
Branches Are In Mirqab, Fahaheel, Souk Watiya, Farwaniya, Jleeb Al-Shyoukh And Mahboula.
Source : www.cityinternationalexchange.com
Disclaimer : The information above concerning Kuwait is provided for general reference only, and may not be totally be accurate in a particular location or circumstance.
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