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PayPal to Equity Bank is Now Instant, Jan 2024

PayPal to Equity Bank is now Instant

Starting January 2024, Equity Bank customers can withdraw money from PayPal and have it reflected instantly in their bank accounts. This is huge, as this becomes the second service to offer automated PayPal withdrawals, after Mpesa.

This development, which marks a major shift from the previous waiting period, is expected to greatly enhance the convenience for PayPal users in the country, particularly those who rely on the service for business and personal transactions.

Previously, Equity Bank required up to three business days to settle PayPal withdrawals. This duration was then reduced to just 24 hours. Now, with this latest update, you get to have your money within minutes.

The PayPal to Equity service targets a wide range of users, including freelance writers, Kenyans with families abroad, and those involved in the creative industry and cross-border trade.

Both PayPal and Equity charge minimal processing fees for these transactions. Compared to Mpesa, Equity offers slightly better rates, so there’s no reason why you shouldn’t consider switching to it.

For new users looking to use this withdrawal service, the process involves creating and verifying a PayPal account and then signing up on the Equity Bank website. This integration allows customers to easily transfer their PayPal balances to their Equity Bank accounts.

Towards the end of 2022, Equity Bank integrated their PayPal withdrawal service into their mobile app, saving you the hustle of having to hop onto a PC whenever you want to make a withdrawal.

This development is also in line with Equity Bank’s efforts to offer digital banking solutions that enhance customer experience and ease of access. Platforms like Equity Mobile, Equity Online, and Equitel lines are part of the bank’s digital strategy aimed at improving the way customers interact with their banking services.

Moneyspace Ke
Moneyspace Ke
We understand the hustle of everyday Kenyans – the drive to do more, save more, and be more, all while not earning just enough. At Money.ke, we aim to provide reliable information to help you build a scalable sidehustle business. Subscribe to find insights on financial products, practical saving tips, and viable business ideas in Kenya. 🇰🇪🤝📈.
Moneyspace Ke
Moneyspace Ke
We understand the hustle of everyday Kenyans – the drive to do more, save more, and be more, all while not earning just enough. At Money.ke, we aim to provide reliable information to help you build a scalable sidehustle business. Subscribe to find insights on financial products, practical saving tips, and viable business ideas in Kenya. 🇰🇪🤝📈.