Early 2018, a new money transfer option dubbed PayPal to Mpesa changed the way Kenyans withdrew money from PayPal for good.
The PayPal to Mpesa money transfer option came at a time when Kenyans were facing a myriad of challenges when withdrawing money from PayPal.
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Prior to this money transfer option, the most convenient way was PayPal to Equity which is an option that took 3 days before you could receive your money.
This made it very tedious and in case of emergencies, it was not a reliable way of withdrawing money. Fortunately, with the PayPal to Mpesa withdrawal option, money transfer is finalized in at least 2-3 hours.
What is PayPal to Mpesa withdrawal?
To answer your question briefly, PayPal to Mpesa is a money transfer service that is offered by PayPal in partnership with Mpesa.
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This service is facilitated by TransferTO which is an international company. To qualify for this service, you have to be a registered PayPal user with a registered Mpesa account.
You are supposed to link the two accounts in order to facilitate the transfer of money from your PayPal account to your Mpesa account.
How to link PayPal account to Mpesa
This is the most crucial part of the whole process. Your PayPal account names must match the names you used to register your Mpesa account.
For example, if your PayPal account information shows that your name is John Doe, your Mpesa names must be John Doe for the synchronization to happen.
Failure to which you will get an error message saying your names do not match. Below is a guide on how to link your PayPal account to Mpesa
- Go to www.paypal-mobilemoney.com/m-pesa
- Log into your Kenyan PayPal account
- Agree to TransferTo’s terms and conditions for using the service
- Add the Safaricom number you’d like to link to your PayPal account
- You will receive a verification code on your Safaricom line via SMS text
- Enter this code to complete linking the two
How to withdraw money from PayPal via Mpesa
Withdrawing money from PayPal via Mpesa is why we are all here. You should remember that Mpesa transaction limits apply and you cannot withdraw more than Ksh. 70000.
The maximum amount of money that your Mpesa account can hold is Ksh. 100000. Here is the step by step guide on how to withdraw money from Paypal straight to your Mobile account
- Log into your PayPal platform account here
- Click Withdraw
- Enter the amount you wish to withdraw from PayPal
- You will see the amount of money you will receive in your Mpesa account
- You will also see the exchange rate used to convert the money to Kenyan shillings
- Confirm and complete the transaction to withdrawal the money
How long does it take to withdraw from PayPal to Mpesa?
By far, PayPal-Mpesa is the fastest option to withdraw money from PayPal in Kenya.
According to PayPal, it should take at most 2 hours to receive money in your Mpesa account after the withdrawal.
Most of the time, it takes less time than 2 hours. In case of any problems with your withdrawal, it can take up to 3 days to receive the money.
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Freelancers and online workers in Kenya are among those who benefited the most from this deal.
PayPal Transaction charges
In order to facilitate their service, there are transaction charges deducted on every transaction.
- 3% conversion fee is charged on every amount withdrawn.
- TransferTo also makes some money with exchange rates
- It should take 2 hours from the time you withdrew from PayPal for money to hit your Mobile account
- Standard Mpesa rates apply to all transactions.
- Standard Mpesa transaction limits apply. Each transaction should not exceed Ksh. 70,000
How to top up my PayPal account using my M-PESA
- Visit the PayPal platform here
- Go to exchange rates
- Calculate to get the equivalent amount converted in KES
- Go to your Mpesa menu
- Select Lipa na Mpesa
- Pay Bill option [Enter Paybill number 800088]
- Account number [Enter your Phone number]
- Amount [Enter the amount you need to deposit to PayPal]
- Enter your M-PESA PIN
- Confirm the transaction and send
Your transaction should reflect in PayPal in real-time but due to some delays, it can take up to 4 hours. In case of any question with regard to this guide leave us a comment and we will be there to help.