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Equity Bank Rolls Out Preferential Forex Rates on Digital Platforms
Equity Bank has introduced a new digital solution that allows customers to access preferential foreign exchange (FX) rates directly through its mobile app and online banking platforms, marking a shift from the traditional, branch-based model.
For years, negotiating FX rates meant long calls with treasury desks or physical visits to bank branches. This often caused delays, especially for customers handling urgent transactions or operating outside banking hours. Now, the lender is streamlining that experience by putting FX access directly in customers’ hands.
A simpler, faster way to access forex
With the new Preferential FX Rate Solution, customers can view and lock in discounted exchange rates in real time. The platform automatically adjusts rates based on transaction value, meaning larger transactions attract more competitive pricing.
Users can complete transactions instantly on the app or online, with each deal assigned a unique reference number for easy tracking and transparency. This eliminates manual processes and reduces waiting times, making it easier to move money across borders without friction.
The solution targets individuals and businesses that frequently deal in foreign currencies, including traders, SMEs, and corporates.
Equity Bank Rolls Out Preferential Forex Rates on Digital Platforms
Riding on a growing forex market
The rollout comes as Kenya’s forex market continues to expand. Central Bank of Kenya data shows foreign exchange reserves hit $12.5 billion as of January 2026, offering 5.4 months of import cover.
At the same time, remittances remain strong, with inflows reaching $435 million in December 2025. Kenya’s international trade also continues to grow, with volumes hitting KSh973.6 billion in the second quarter of 2025.
This growth is driving demand for faster, more accessible FX solutions especially as more businesses and individuals engage in cross-border transactions.
Who stands to benefit
The new platform caters to a wide range of users. Businesses can streamline international payments and reduce operational delays. Traders dealing in large volumes can secure better rates, while freelancers and expatriates can manage recurring FX transactions more efficiently.
Travelers also benefit by accessing competitive rates before trips, while NGOs and development organisations can process international payments with greater ease.
As digital banking continues to evolve, solutions like this position Equity to meet rising customer expectations. More importantly, they lower barriers to global trade and financial access—key drivers in Kenya’s increasingly connected economy.
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