(Last Updated On: April 11, 2015)
Paypal is surely the best way to get paid online since it is the simplest method available out there. All you need is an email address and you are set to receive payments in any form of currency. So once you have your money how do you withdraw it? In Kenya the only way to withdraw the money is through Equity Bank. Paypal and Equity have a partnership that enables this transaction to take place.
Requirements to withdraw money
1. A Kenyan Equity Bank account with your email address, mobile phone number and ID registered at the bank.
2. A verified paypal account.
Both individual and business customers with an active Equity Bank account can be used in the withdrawal process. The highest amount that can be transacted is $10,000. You will be using US Dollar currency hence if you have money in a different currency it will be converted to US Dollar.
1.Visit Equity Bank website and select the Equity Bank Paypal withdraw service link. This will send you to the withdrawal service page.
2. Select ‘Withdraw From Paypal’ button
3. Choose if you are either Individual or Business.
4. Enter your Equity Bank account number then submit. A one time pin will be sent to the phone number or email address of the Equity Bank account entered.
5. Enter the Pin
6. Complete the information details in the Personal Details/Business Details page. Here is where you will enter the amount needed to withdraw and enter the paypal email address.
7. Accept the terms and conditions.
8. Review the information then when satisfied press confirm.
9. You will be redirected to Paypal payments page and here you will log in to the paypal account you had initially indicated. Then click ‘Pay’
10. You will be given the transaction status and the reference number
11. Click Finish to complete the process
12 You will get your money within 8 business days
Equity takes a tiny percentage as part of the transaction charges.