Great news for Equity Bank Kenya customers who also happen to use PayPal! Starting this year, the process of transferring funds from your PayPal wallet to your Equity Bank account just got a whole lot quicker – it’s now instant.
Equity bank’s compatibility with Paypal platform
In the past, Equity Bank was the go-to solution for Kenyan PayPal users looking to convert their online funds into physical cash. However, the game changed about six years ago with the introduction of Safaricom and M-Pesa’s Global program, which seamlessly integrated PayPal into the popular mobile money platform.
Adoption of M-Pesa
In 2020, M-Pesa further solidified its dominance by introducing instant PayPal-to-M-Pesa withdrawals, a significant improvement compared to the previous three working days it took for PayPal-to-Equity Bank transactions. This move bolstered M-Pesa’s appeal, making it the preferred choice for most Kenyans when withdrawing funds from PayPal.
Using Paypal with Equity account
If you’re wondering how to handle PayPal transactions, whether you’re receiving funds or making payments, it’s relatively straightforward. To receive money in your PayPal account, you can share your registered email address, send an invoice to your customer, or have them use the PayPal checkout option on the website.
On the flip side, making payments for goods and services using PayPal involves linking your credit or debit card to your PayPal account and selecting the linked card as your payment method when dealing with merchants or service providers that accept PayPal. So, with this new instant transfer feature, Equity Bank customers can now enjoy a more seamless and efficient process for managing their PayPal funds.
