I have an NGO that receives funding from Donors worldwide, I have opened an NGO account with Barclays Bank.
The Donors wires their funding in Dollars Just received a call from my Banker (The guy who assisted me in opening the account), He informs that a certain donor has wired 9000 dollars and the bank exchange rate is 1dollar= Ksh93.
I complain that from basic knowledge 1dollar should be at least a Ksh100, after a few minutes the same person calls and tell me he has reversed the transaction and that now the exchange rate will be 1 dollar =Ksh95.
Am smelling something fishy/Am being conned, Experts please help a peasant to become a millionai
Boss, i will tell you something we received funds every month na the worst bank in rates ni Barclay’s the best ni Equity. Open a dollar account in equity you wont regret juu its a formal office account huwezi kua unaenda Eastleigh kuchange pesa za ofisi.
Another trick when you write proposal usually use low rate than the prevailing market rate, donor wont notice but you will benefit in exchange rate gains. Utapata project imeisha you have done everything na ukona pesa kwa account.
Lastly tell you donor to send money in batches either every month, after 3 months this basically means you have saved your money in dollar utapata rate ya next month is better than now.
Na the best currency for this manipulation is GBP hii ucheza vizuri sana. Sai iko 133 to Kes yet 2014 tukiandika proposal ilikua 124 kes
I had a dollar account with a local bank which received funds from abroad. They had the audacity to change the funds into kes before depositing into the USD account claiming internal procedures. I was thiefed in broad daylight, The next day I closed the account. Apana leta mcheso kwa pesa