It’s good news for Kenyan Academic Writers as equity has recently made their services more convenient for our Kenyan university academic writers (who I’m sure are reading this post :p )
Now you can simply withdraw your funds from PayPal to Equity Bank in just 3 days!
Other methods include paypal to mpesa services which can prove disappointing for new users with delay periods of at least 72 hours! I had to request a full reversal of my funds after it took too long. For user who have been using their accounts for a while (actively), you’re most eligible to try the Paypal to MPesa method.
For those who don’t mind waiting out 3 days of assured secure service directly to your account. This is for you!
Previously it took 8 working days to get your funds from Paypal to Equity Bank account. Mind you the rates are:
PayPal fees*
- No PayPal account set up costs.
- When receiving funds into your PayPal account, PayPal charges between 2.4% and 3.9% + USD 0.30 per transaction.
- PayPal currency conversion fees may apply at 2.5% above the prevailing exchange rate.
**Please visit www.paypal.com/ke for more information.
Equity Bank
Where payment is made into a KES/EUR/GBP Equity Bank account, the payment will be based on the USD/KES/EUR/GBP Bank’s exchange rate prevailing at the time of effecting the transaction into your Equity Bank account.
Equity Bank charges a transaction fee of 1.5% of the withdrawal amount.
How long does it take to get paid?
- Payment from another PayPal user is instant.
- A withdraw from a PayPal account takes 3 business days to reflect in your Equity Bank account.
Here’s how to transfer cash from Paypal to Equity Bank Account:
PayPal Withdraw Service
PayPal Registeration Userguide download
What is the Equity Bank Withdraw Service with PayPal?
The Equity Bank Withdraw Service with PayPal allows you, a Kenyan PayPal account holder, to withdraw funds paid into your PayPal account to your Equity Bank account.
The Withdraw service is exclusive to Equity Bank customers.
The Withdraw service is available to both Individual and Business customers with an active qualifying Equity Bank account. Qualifying account are most Equity Bank transactional accounts in KES,USD, GBP or EUR excluding credit cards.
When withdrawing funds from your PayPal account, you are required to specify the U.S. Dollar amount you want to withdraw. If your account contains funds in a different currency, PayPal will auto-convert those funds into U.S. Dollars during the withdrawal process.
Equity Bank has a $10,000 USD transaction limit.
Kenyan Shilling is not a PayPal supported currency.
The Equity Bank withdrawal service with PayPal works as follows:
- Visit the Equity Bank Website www.ke.equitybankgroup.com
- Click on the money transfer section at the top right hand corner
- Select PayPal
- If you do not have a PayPal account, click on ‘sign up for PayPal account’ and complete the process
- If you have a PayPal account and you would like to withdraw money to your Equity Bank Account click on ‘withdraw your money’
- With your portal user name and password, log in to the site. If you are new, click register and follow the process of registration (the registration Process is a one-time process)
- On the menu click “Banking services”
- Enter your nominated bank account and click “Link Account”
- A One Time Pin (OTP) will be sent to the official cell phone number maintained by Equity Bank for the nominated account
- Enter the OTP and click “Confirm OTP”
- If successful, a confirmation message will be displayed “Account has been successfully linked. Enjoy our Online Banking services”
- On the menu list click “PayPal Services”
- Enter your PayPal email address, select the bank account added in step 4 above and click “Link Account”
- You will be redirected to PayPal window pop up. Key in your PayPal Account Password and click “Authorize”
- You will be redirected back to your Equity Bank website page with a message “Your PayPal account has been successfully Linked”
PayPal Balance Enquiry
- On the PayPal Services Menu, click “My PayPal Balance”
- Select your linked PayPal account and click “Submit request”
- Your PayPal account balance will be displayed
PayPal Withdrawal Process
- On the PayPal Services Menu, click “Withdraw Service”
- Select your PayPal account linked previously”
- Key in the amount to withdraw. The amount must be less than or equal to your PayPal Account Balance
- Click “Accept”
You will receive a message “”Your PayPal withdrawal of amount X was successful”. Your bank account will be credited within 3 business days”
View the Terms and Conditions for the Equity Bank Withdraw service with PayPal
