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How to Withdraw PayPal Money in Kenya Using Equity Bank

Updated on August 31, 2016
Patkay profile image

Patrick is a dedicated writer who wishes to make the world better by informing individuals who seek more knowledge.

How to Withdraw PayPal Money in Kenya Using Equity Bank

Kenyans have been having a problem in:-

  • Finding of avenues to earn online, and after having ways of earning,
  • They have had problems withdrawing their hard earned cash.

After a lot of suffering and waiting in frustration, freelancers in Kenya have now something to smile about. They can now withdraw their hard earned PayPal money using Equity bank. This has come as a result of the launch of a PayPal withdrawal service which is exclusive to Equity bank.

This service is available only to Equity Bank's clients hence those who are not customers will be required to open an account with equity. It is worthy opening an account with them and using this method to withdraw your cash. Their commission is the lowest and there are no other hidden charges. This will now enable you to receive money through PayPal and withdraw it into your equity bank account. PayPal, which is a global payment service, offers a safer and easier way of paying and getting paid online. Many people transacting their businesses online prefer to use PayPal because of its convenience.

Equity Bank Logo

Equity Bank
Equity Bank | Source

The Commission Charged is Quite Low

This system will surely benefit many Kenyans who over the years have been waiting for such a service. Thousands have been searching for ways of withdrawing money from PayPal in Kenya. They have been using various methods of which some are not safe while other services they have used have gone down at one time or the other just after being launched. For this service, withdrawal to your bank will take 5-8 business days for money to reflect on your Equity Bank account.

What You Need

The procedure is quite simple as it is only a four step procedure before you start transacting. If you have a PayPal account and Equity Bank account, the first two procedures will be skipped. Otherwise you will need the following before you can start enjoying this service:

  1. Create and verify your PayPal account (if you already do not have one)
  2. Open an equity Bank account (if you already do not have one)
  3. Start getting paid online using your PayPal account
  4. Then you can withdraw your hard earned money from the PayPal account to your Equity Bank account

Choose Your Option

Choose your option
Choose your option | Source

PayPal Money Withdrawal Procedure

To withdraw funds from PayPal account, you need to have an Equity Bank account. The withdrawal service is for both individual and business clients who have qualifying and active Equity Bank account. The accounts that qualify are ordinary Equity bank accounts in Kenya shillings or US dollars but excluding credit cards.

Follow These Procedures

  • Go to Equity’s website and click on the PayPal withdrawal link. This will lead you to the
    Equity Bank PayPal withdrawal service website.
  • On the Equity Bank PayPal withdrawal service website landing page, click on withdraw from PayPal option.
  • Select the appropriate option either for me (individual) or for my business.
  • Enter your Equity Bank account number and click on submit. If your contact information is not updated, you will get an error - “Error 3007 - You are unable to transact as we do not have updated contact information for the account. Please contact the Equity bank call centre on (+254) 711 025000 / 734 108000 to update your contact details.”
  • A One Time Pin (OTP) will be sent to your cell phone or email address registered to your account.
  • The next step is to complete your personal information or business details depending on what you had indicated.

If you get an error after submitting your number, it will be necessary to update your details. This you will accomplish by visiting your Equity branch and requesting personal data update. You will update your E-mail, Cell phone number and any other information you may wish.

Enter Equity Account Number

Enter your Equity Bank account number
Enter your Equity Bank account number | Source

There Are no Other Hidden Charges

  • After viewing the quote you will be required to accept the terms and conditions.
  • A confirmation screen will appear where you will check the information you have provided before clicking on the confirm button.
  • After clicking on confirm button, you will now be redirected to the PayPal’s website. Log in and confirm the transaction you want to carry out.
  • After confirmation, you will be redirected back to the Equity Bank withdrawal page.
  • From this page, you will be able to see the status of your transaction and also the transaction reference number. You should note down your transaction number somewhere.
  • Then click on the finish button and the process will be completed.
  • Sit back and relax as you wait for your money to be put into your account within 3 business days.

View Your PayPal Quote

This is a quote you will get to confirm the total money you will receive.
This is a quote you will get to confirm the total money you will receive. | Source

Let Others Know

I have already used the service and liked it. The above transaction is what I used for testing the service (I received 1658.74). The commission is as indicated, 1.5% which I believe is the lowest in the market. The wait time was 8 days which to me is not that much as long as I will get my hard earned money without being taxed heavily. I am waiting for comments of those people who have used the service. You can comment below to let others know of what your experience is with the Equity PayPal withdrawal service.

And You Get Money

Enjoy counting your money
Enjoy counting your money | Source

Have you used this service to withdraw your money from PayPal?

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© 2013 Patrick Kamau

Comments

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    • Patkay profile image
      Author

      Patrick Kamau 11 months ago from Nairobi, Kenya

      Farhad Kunto, I have no idea how these guys work. When we had no method of Paypal withdrawal in Kenya, I was using Pioneer Card. Unless you try them out with small amounts at first.

    • profile image

      Farhad Kunto 11 months ago

      Do you think it would be safe to have Auction Essistance help us withdraw our funds for us? I remember they used to offer a withdraw service for users who have issues getting money out. But don't find much reviews on that.

    • Patkay profile image
      Author

      Patrick Kamau 4 years ago from Nairobi, Kenya

      TK Equity does not charge those hefty commissions. It is just as I have indicated in the snapshot above. Their commission is 1.5%.

    • profile image

      TK 4 years ago

      When withdrawing from paypal to equity, does paypal charge its commission? Because i understand paypal charges commissions for accounts outside US. Unless the account equity is using to receive the money from paypal is a US account, then paypal must be charging the hefty commission... I need clarification on this issue. Any one can help....

    • Patkay profile image
      Author

      Patrick Kamau 4 years ago from Nairobi, Kenya

      s.chief, I agree with you that waiting for 5 - 8 days is not much. The most important thing is you get your hard earned money without paying dearly to get it. Some of these guys charge a lot leaving you with almost nothing. It is a good move for equity bank.

    • profile image

      s.chief 4 years ago

      Why do people hate on Equity so much? yes, i understand they have had their own issues with clients from time to time, but this PayPal thing really works.

      Of course 5-8 days is a long time for some of us to wait, but you need to start planning ahead for that 5-8 days.

      You cannot be hoping to withdraw money every 2 days, think of the commissions. It is prudent to use some of these services periodically, say once, twice or thrice per month depending on your arrangements or your needs.

      I have used quite a number of alternatives, from epay tumapesa, tuwaze etc. all of them work, but from time to time PayPal whoops their asses coz all they are doing is money laundering.

      since i started using the Equity-PayPal alternative, yes 5-8 days is the opportunity cost you have to incur and there are no hidden charges.

      ndugusoft, kindly do not mislead others.

      owner of the website, kindly share ur email i can even send you snapshots of my transactions through Equity as proof to stop this misleading habit that Kenyans have.

      and yes, i have hated on Equity Bank before, even for no apparent reason, but on this one, they have outdone themselves, and no one can take that away

    • Patkay profile image
      Author

      Patrick Kamau 4 years ago from Nairobi, Kenya

      Thanks for reading and commenting. Yes it is true I have heard some people say they are a bit expensive. I hope they will consider reducing their rates soon.

    • ndungusoft profile image

      Francis Mwangi Ndungu 4 years ago from Thika, Central Kenya

      Yah, the service seems to work, but is far much costly than Payoneer, Payoneer charges 1% and have a better exchange rate. See more info here: http://www.ndungusoft.com/blog/how-to-use-paypal-i...

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