Since PayPal got to Kenya people working online from Kenya have not had the chance to withdraw straight to a Kenyan bank. The only options available for Kenyans were to withdraw to a US bank or transfer to local exchangers who will give the cash for a commission.
Many Kenyans are working online and this has created a big demand of PayPal withdrawals from Kenya. Equity bank is the only bank that is offering this service and true to the nature of Equity bank it will set the pace for the other banks to follow. Equity bank is known to pioneer technology driven services like the agency banking in Kenya. This was the first bank to start agency banking and only a few days after the launch other banks followed suit.
Many of these banks that started agency banking after Equity have not been able to maintain their agencies to date, especially in the rural areas, but Equity bank agencies are still operating and many more are opening. Kenyans have very high hopes with this withdrawal method because Equity is not known to let their clients down.
This is the procedure of PayPal funds withdrawal with Equity bank:
1) Go to Equity bank website and select PayPal withdrawal.
2) Select withdraw from PayPal and select customer type.
3) Enter and submit your Equity bank account number.
4) A PIN that is supposed to be used only once and within ten minutes is sent to your registered email or phone number.
5) Fill in the amount to be withdrawn in USD and accept the terms and conditions.
6) After reviewing the details confirm the transaction and sign into your PayPal account
7) PayPal also will ask you to confirm the amount and whether you want to continue with the transaction.
8) After confirming your transaction, finish the process and wait for the funds in your account. The money will reflect in your Equity bank account after eight days.
This is a very convenient method of withdrawing PayPal money from Kenya and many people who work online in Kenya now have relief because for the first time ever they are able to bring their PayPal money home to a bank near them easily.