So how can one withdraw money from PayPal?
This post was last updated on 10th August 2016 and gives you current and most accurate information on how withdrawal from PayPal is done.
PayPal withdrawal has been one of the toughest things for most freelancers to get by.
Unfortunately, most of the very professional freelancing websites pay by PayPal. Therefore, getting this cash from the internet to M-Pesa, local bank account or a Kenyan ATM has been one of the most sought after services.
Due to the laws of demand and supply, there are a few who have discovered loopholes and gotten a lot of money through withdrawing PayPal cash for others and charging them insane commissions. This post will help protect you from such people while directing you to Kenya’s most trusted PayPal withdrawal options.
Additionally, many people have been scammed through fake PayPal withdrawal services. Make sure you read this post carefully so that you’re never scammed.
It is still impossible to go to PayPal, click “withdraw” and have the money in a Kenyan bank account. Luckily, currently there is a Kenyan bank that will help you. I talk more about it below.
Browsing through the internet, you may see a lot of sites talking about direct PayPal withdrawal through Safaricom and I&M’s M-Pesa Prepay Safari card, or the KCB Prepaid Debit Card. Well guess what? All these are not true.
What these cards will do is they’ll help you buy stuff online through Visa but not directly withdraw PayPal cash. You can also link them to PayPal when verifying your PayPal account.
There are three real methods that you can use to withdraw money from PayPal in Kenya. These are:
- Equity Bank
- Payoneer – A trusted method that no longer works for new applications
- ePay-Kenya and other PayPal to M-Pesa services
The only direct withdrawal method is withdrawing through Payoneer, the rest are all indirect.
1. Equity Bank
Equity Bank is the cheapest option for withdrawing PayPal cash. It takes 5-8 business days to get the cash in your bank account. For more about Equity PayPal withdrawal, click here.
2. How to Withdraw Money From PayPal Through ePay-Kenya and Other PayPal to M-Pesa Services
I single out ePay-Kenya since it is the among most trusted out of all these Kenyan PayPal to M-Pesa services. The others may work, but you’ll need to be extra cautious with them. Check them out here.
Here I’ll only cover ePay-Kenya since I have your best interests at heart.
To register, simply go to their website www.epay-kenya.com and sign up. After that you’ll need to submit a scanned copy of your ID (both sides) to firstname.lastname@example.org. When they receive your scanned ID, your account will be verified.
With a verified account, you will be able to “withdraw” your money from PayPal. Just send them an email through the email address above or their online ticketing system https://epay-kenya.com/contact.htm and they will walk you through how you’ll be able to receive your cash in Kenya.
Advantages of Using ePay-Kenya
- You get the cash within an hour or two via M-Pesa which makes it the a very fast, trusted method of PayPal withdrawal in Kenya
- They will never scam you
- They have a great support team
- You can set it up easily and quickly. I personally set it up and withdrew in a couple of hours.
- They can send the cash to your M-Pesa, Skrill, Airtel Money and Chase Bank accounts among many others options
- You get to take advantage of the numerous ePay-Kenya services.
Disadvantages of ePay-Kenya
- They have high commission rates. Remember M-Pesa will also charge you to get the actual cash therefore cutting off an additional percentage.
- You can only withdraw up to 500 USD in the first month after signing up. This amount is too low for some big-time freelancers who earn thousands of dollars per month.
3. How to Withdraw Money from PayPal using Payoneer
Editor’s note: Unfortunately, this method was stopped by PayPal in 2014. It no longer works for new applications. Guys who were using it earlier can still continue using it.
Payoneer is a friendly payment processor that is accepted by many freelancing websites, online payment platforms and even PayPal itself used to accept it. It is the most trusted and ONLY method of withdrawing PayPal money directly. Here, I mean that it is recognized by PayPal and you can withdraw by going to PayPal and clicking “withdraw”.
To use this method, you first need to apply for the Payoneer MasterCard which can be used to withdraw money from ATMs worldwide, including here in Kenya. This card is also provided by other major freelancing websites.
It is not mandatory to get the card through a partner website, you can click here to apply for the Payoneer MasterCard. Note that applying for this card through any of my links will earn you a free $25 once your cumulative withdrawal adds up to $100.
Currently, when you apply for the card, you also automatically apply for the US payment service. It is this service that will help you to withdraw money from PayPal.
In case you already have the card as you’re reading this and don’t have the US Payment Service, simply send an email to Payoneer through their online contact form and they’ll get you sorted out real quick. You can also feel free to call or chat with them.
Advantages of Using Payoneer’s US Payment Service
- You are given an actual account number which you will fill on PayPal‘s withdrawal page. Therefore you don’t need to worry about PayPal closing your account due to the use of indirect methods. Once you withdraw, the cash comes directly to your Payoneer card and you can withdraw through local MasterCard branded ATMs (Currently Barclays, KCB, Equity, PesaPoint and CfC among others).
- They have negligible commissions. You only get charged 1% and then withdrawal at the ATM will cost you $3.15. Another charge is the $30 activation charge which will be deducted once as soon as you have that cash in your Payoneer account.Their figures are still very good since if you are using ePay-Kenya and you withdraw $200 per week, you are giving them more than $20 every week in commissions. With Payoneer, you’ll be giving them less than 5 dollars a week if you are withdrawing the same amount.
- You can withdraw the cash through any MasterCard ATM worldwide.
- You can also use the card to buy stuff online.
- You have no limit to the amount of cash you can withdraw.
- Click here for more benefits of the Payoneer card. When checking out that post, you’ll realize that it is verified by Payoneer staff in the comments section.
Disadvantages of the US Payment Service
- When you withdraw the cash from PayPal, you will get it after 3 business days. Therefore, if you withdraw the cash on Tuesday, you’ll get it on Friday morning, assuming no US holiday falls in between. This period may be too long for some people.
- After application, it takes one month for you to receive the Payoneer card in Kenya. The one month may also seem too long for some.
- As mentioned above, this method is no longer applicable to new users. Thus only those who signed up before 2014 can use it.
All these methods are great for withdrawal in Kenya.
It may be advisable to have all these accounts ready since that way, if you have an emergency you can make a quick withdrawal via ePay-Kenya.
On the other hand, when withdrawing volumes of cash, you can use Equity or Payoneer due to the low commissions. Remember Payoneer no longer works for new applications.
The Equity option is also great for those who would want to access loans in future…and you know how hard it is for freelancers to get loans.
At the end of the day, the great thing is that these are legit ways through which you can withdraw money from PayPal in Kenya without being scammed.
NOTE: I keep updating the figures above whenever they change both for ePay and Payoneer to reflect the latest charges. Since these figures may keep changing, always feel free to contact the support pages of these sites for further clarification. Also remember that if you apply for the Payoneer card through this link, you get free $25 once you hit $100 in your Payoneer account.