In this article, we will discuss on in detail PayPal withdrawal to local banks in Kenya and share more on online payments and alternatives to PayPal for Africa users. Online payments are changing rapidly globally, which has greatly improved how people can do business. Many years ago, people relied on the traditional banking system and had to be physically present before performing whatever transactions they were interested in. Things have since changed as people can now do their banking online and perform thousands of transactions from the comfort of their homes with just a few clicks.
Online payment's convenience is unmatched and has become the preferred method. Who would have thought that the traditional banking system would be replaced by a new and more convenient method? This has been made possible by the advancement of technology and the development of the Internet. This has also birthed a new and growing industry of several payment providers across the globe with a collective goal of making online payments easier and more convenient for their users.
It’s safe to say that while other parts of the world have made significant growth in this industry, Africa has lagged hugely, thanks to the high cost of doing business in the region. Some of the world’s leading payment providers have even restricted their services to only a few African countries, with limited access to the features that make these services useful in other parts of the world. This has been the case for some time, and things are starting to shape up, thanks to the innovative minds of some individuals who have decided to pursue excellence and create similar services in Africa, especially Kenya.
Kenya is one of the two leading countries in the mobile money business alongside Ghana, ranking second and third respectively in the world, only behind China. According to a report on Business Insider Africa, both countries have contributed a combined $20 trillion to the global value of mobile financial service transactions. Sadly, despite this obvious contribution, big players like PayPal continue to restrict access to their services in these countries and Africa.
PayPal is one of the biggest online payment providers in the world. It processes billions of dollars in payments each year, allowing people to send money to each other, make online purchases, and save their payment information for future purchases. Although PayPal is a popular service, it has also been scrutinized for its business practices. In the past few years, critics have raised concerns about whether PayPal is a good place to send money if you need it in a hurry, whether it is a safe way to store your money, and whether it is a good way to make donations. They have also questioned whether PayPal is a good place to do business if you want to offer a more environmentally friendly payment option.
PayPal has also come under fire in recent years due to the restricted access given to African users who don’t enjoy it as much from its services as people in the Western world. For example, African users were often restricted from receiving money in their local currencies, requiring them to use U.S. dollars instead. This was a major friction source for the affected people, who often had to deal with high transaction costs and long wait times to access their money. In some cases, users were even blocked from receiving money at all.
If you’re a Kenyan PayPal user, you may have experienced some difficulties accessing some of PayPal’s best features, such as withdrawing money and making donations. To withdraw funds from your PayPal account, you only have two options - Equity Bank and M-Pesa. The lack of options is disheartening as you have been forced to settle for only two options. Thankfully, if you’ve been struggling to withdraw your PayPal funds as a Kenyan user, that’s exactly what we’ll discuss in this article.
Equity Bank struck a good partnership with PayPal some years ago to allow its users who also have PayPal accounts to withdraw their funds directly into their Equity Bank accounts. The partnership with PayPal means that the ease of transferring money into and out of Equity Bank is the best in the industry. Over the years, the partnership has expanded to allow users to transfer money into their PayPal account and then transfer that money into their Equity Bank account. The process is simple, secure, and allows users to have their money in their bank account within minutes. The partnership between Equity Bank and PayPal has given users the most convenient way to bank.
Over time, the partnership has evolved from a partnership to something more akin to an alliance. Today, the relationship is stronger than ever, with PayPal users often seeing faster transfers and increased limits when they transfer their money from PayPal to Equity Bank. The move has helped increase the bank’s reach and deepen customer relationships. Equally important, it has helped the bank better understand its customers, who have a deeper bond to the brand because of the partnership with PayPal.
Below are a few things you need to know about the Equity Bank Withdraw Service with PayPal;
NOTE: Thanks to the new Equity Bank policy, you no longer have to wait up to 3 business days to get your funds in your Equity Bank account. It was announced earlier this year that PayPal withdrawal would only take up to 24 hours before reflection, and this is good news for every user of both services.
You can also withdraw your PayPal funds to your M-Pesa account, thanks to the M-Pesa PayPal Service, which allows users of both services to transfer funds from and to both accounts. This means you can use your PayPal funds in the local M-Pesa ecosystem and transfer funds from your M-Pesa account to your PayPal account. This is ideal for those who prefer to keep their PayPal funds in the secure confines of the US. It also means you can send and receive money in both directions between your PayPal and M-Pesa accounts. This is particularly useful if you often need to send money to someone in Kenya but want to keep your money in the US.
This means you can use your PayPal balance to pay for goods and services or withdraw funds and use them to transfer money to a friend or family member. The PayPal withdrawal M-Pesa Service is available in Kenya, Tanzania, and Uganda. Your money is instantly transferred to your M-Pesa account when you use the service. This can be used to transfer money to friends and family, and you can also use it to pay for goods and services.
Below are some of the things you need to know about the M-Pesa PayPal Withdrawal Service;
While PayPal is a worldwide brand that has benefited many people around the globe, there are still some challenges that African PayPal users face when it comes to withdrawing their funds into their local accounts. They’ve not only had to battle withdrawal issues; some of these issues include account limits, held payments, and many more. This has caused people to start looking for better alternatives that are specifically built for African users and businesses. Before we get into how IntaSend is the best PayPal alternative for African users, below are some of the challenges you could face as an African PayPal user;
If you find PayPal annoying and can’t wait to put the challenges of using PayPal behind, IntaSend remains the best alternative. If you find PayPal annoying and can’t wait to put the challenges of using PayPal behind, IntaSend remains the best alternative. IntaSend is a fast and secure payment platform that allows customers to receive money anywhere in the world in just a few days. The platform features multiple payment options, 24/7 customer support, business API integration, and real-time notifications. It’s also very secure because IntaSend uses the most advanced encryption available on the market. That means your money is safe, and you’ll never have to worry about hackers stealing your money.
With thousands of users and a 99.99% transaction completion rate for account holders, IntaSend is a proven alternative for anyone who wishes to ditch PayPal for a better payment service. Some of the benefits you’ll enjoy with a trusted payment provider like IntaSend include;
There are several ways to withdraw your PayPal funds into your local bank accounts if you're in Kenya. One is to open an Equity bank account, link it to your PayPal account, and withdraw seamlessly. The other way is to open an M-Pesa account and link it to your PayPal account. Both of these approaches have their own advantages and disadvantages. It has been reported by many Kenyan PayPal users that, while both Equity Bank and M-Pesa have been great, they don't entirely solve their problems. There are issues of high rates and late withdrawals, all of which have been made better on IntaSend. IntaSend has many features that make it the best payment gateway in Kenya. Sign up today to get started.