PayPal to Equity Bank withdrawals now instant

Equity Bank Kenya has today announced that PayPal to Equity Bank withdrawals will now happen instantly. This means that Equity Bank customers can now quickly get their PayPal funds straight into their Equity Bank accounts. Initially, withdrawals used to take 24 hours.

Equity Bank is currently the only bank in Kenya that lets you withdraw PayPal money directly to your bank account. You can withdraw funds from your PayPal account to your Equity Bank account in Kenyan Shillings (KES) or US Dollars (USD) with a transaction limit of up to USD 10,000 per transaction.

PayPal to Equity Bank Instant Withdrawals Service

The service is available on Equity Mobile App and Equity Online for customers who have linked their PayPal accounts to their bank accounts.

Gerald Warui, the Managing Director of Equity Bank Kenya, noted that the quicker settlement period will help businesses and individuals manage their money more efficiently.

Mark Mwongela, Director Middle East and Africa at PayPal, indicated that Kenya's thriving digital economy presents vast opportunities.

The introduction of PayPal to Equity Bank instant withdrawals will be beneficial for freelancers, digital content creators, remote workers, journalists, photojournalists, and e-commerce owners who sell digital products or are involved in cross-border trade.

The other non-bank option available for same-day PayPal withdrawals in Kenya is PayPal to Mpesa which is powered by a third-party provider Thunes in partnership with Safaricom