How to Withdraw Money from PayPal in Kenya – 2024
PayPal offers a seamless and quicker way to transact money online in Kenya. This includes paying for bills online, subscribing to video streaming services like Netflix and many more. However, PayPal is also a great way of receiving payments online for those who work smart like Freelancers. But how do you withdraw that money into hard cash? Well, in this guide, we will show you how to withdraw money from your PayPal account in Kenya to either mobile money or bank.
Two Methods of withdrawing Money from PayPal in Kenya
Withdrawing money from PayPal in Kenya involves several steps due to certain limitations and regulations. But worry not, we will show you the easy steps of how you can withdraw any amount of money on your PayPal account to your bank or mobile money wallet in Kenya:
1. Withdraw from PayPal to a Kenyan Bank Account
In case you have a valid and active bank account with any bank in Kenya that is linked to your PayPal account, then this is the best option for you. So, follow the steps below to get your transfer process started:
- Log in to your PayPal account on any device of your choice.
- Go to “Wallet“
- Now, click “Transfer Money”
- Click “Transfer to your bank”
- Then follow the onscreen instructions to complete the transfer
In case your bank account is not yet linked to PayPal, kindly learn how to link it here. Note that currently Equity Bank is the only bank in Kenya that allows direct withdrawals from PayPal. So, you may want to create an account by visiting any of their branches in Kenya.
2. Withdraw from PayPal to a Mobile Money Service in Kenya
Another easy and quick way to withdraw money from PayPal in Kenya is by using mobile money. Currently, M-PESA is the easiest and most affordable way to transfer money from PayPal to your mobile money wallet. So, to qualify for this option, ensure that you have a valid and active Kenyan PayPal and M-PESA account and that the two are linked (here is how to link M-PESA to PayPal). If so, they these are the steps to follow to transfer money from PayPal to your M-PESA account:
- Go to the PayPal Mobile Money Service with M-PESA website and log in to your PayPal account.
- Click on “Withdraw from PayPal” and enter the amount you want to withdraw in Kenyan shillings. The withdrawal fee and the estimated processing time will be displayed to you.
- Click on “Continue to Withdraw” and confirm the transaction details.
After that, you will receive a confirmation email from PayPal and an SMS from M-PESA. Additionally, you will see a success message and your updated PayPal balance on the website.
Conclusion
That is how you can withdraw from PayPal to either your Equity bank account or M-PESA Mobile money wallet. However note that transfer charges and currency conversion rates will be debited on each withdraw you process.
Frequently Asked Questions
In Kenya, Equity bank is one of the banks that allow withdraw service with PayPal. However, note that this service is exclusive to Equity Bank customers in Kenya, and is accessible using Equity Online and Equity Mobile App.
To receive money through PayPal, you must first open a PayPal account. Then, end the email address attached to your PayPal account to the person intending to send you money through PayPal. Alternatively, PayPal currently provides the sender of funds the option to share a link directly with the recipient that the recipient can use to access and redeem their money.
Currently, PayPal charges a 3% conversion fee on each withdrawal or top up transactions. On the other hand, for Top Ups, M-PESA will charge you a customer to business PayBill charge (the “PayBill Charge”) as detailed in these terms and conditions.
Yes, PayPal currently accepts you to link a Kenya Bank account to your PayPal wallet for easy transaction of funds. However, in Kenya, it is only Equity Bank that allows withdrawals from PayPal.
Yes, now it can take your between 2 hours to 3 calendar days to process a withdrawal from your PayPal account to your M-PESA account, depending on the transaction value. You can also Pay for online video streaming services like Netflix using your PayPal account in Kenya.
