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Equity Bank has upgraded its PayPal withdrawal service, transitioning from a 24-hour waiting period to instant withdrawals. This enhancement aims to provide a faster settlement period for millions of users who rely on PayPal for international transactions.
What Does This Mean for You?
- Instant Withdrawals: Equity Bank now allows PayPal account holders to withdraw funds instantly. Whether you receive payments in Kenyan Shillings (KES) or US Dollars (USD), you can transfer the money directly from your registered PayPal account to your Equity Bank account.
- No Daily Limits: Unlike before, there are no daily withdrawal limits. Whether you’re a freelancer, an e-commerce business owner, or an individual, you can access your funds whenever you need them.
- Convenient Access: You can use the Equity Mobile App or Equity Online to seamlessly link your PayPal account to your bank account. Once connected, the updated PayPal button will appear on your dashboard, displaying your account balance.
Gerald Warui, Equity Bank Kenya’s Managing Director, shared his thoughts on this development: “The reduced settlement period will support businesses and individuals in managing their cash flows more effectively. Our enhanced withdrawal capacity is a major boost for local PayPal users and aligns with the rapid growth of cross-border trade.”
PayPal’s Perspective
Mark Mwongela, Director for the Middle East & Africa at PayPal, emphasized the significance of this collaboration: “Kenya’s thriving digital economy presents vast opportunities. Our partnership with Equity Bank ensures seamless and real-time access to PayPal funds for millions of Kenyans. Together, we’re committed to supporting local digital growth and facilitating cross-border payments.”
Equity Bank’s instant PayPal withdrawal service is definitely a game-changer for Kenyan users. Whether you’re a business owner, freelancer, or individual, managing your finances just got easier.
