How To Withdraw From PayPal To MPESA:A Step-by-Step Guide

Learn the process of withdrawing money from PayPal to M-Pesa in Kenya. Access your funds conveniently with our detailed guide.

Jun 29, 2023 - 11:27
Jun 29, 2023 - 11:27
 0
How To Withdraw From PayPal To MPESA:A Step-by-Step Guide
How To Withdraw From PayPal To MPESA:A Step-by-Step Guide

Many people globally use PayPal for various online transactions, from freelancing to e-commerce. However, accessing your PayPal funds can be challenging if you're based in Kenya. Fortunately, thanks to a partnership between PayPal and Safaricom, users can seamlessly transfer their PayPal balance to M-Pesa. This article will provide a detailed guide on withdrawing money from PayPal to M-Pesa.

PayPal and M-Pesa Connection

Before diving into the steps, it's essential to understand what PayPal and M-Pesa are and how they interact.

PayPal is an online platform that allows you to pay, send money, and accept payments. Its partnership with Safaricom has facilitated the transfer of funds to M-Pesa, a mobile phone-based money transfer, financing, and microfinancing service popular in Kenya. This synergy brings significant convenience to the users of both platforms.

Requirements for Withdrawing from PayPal to M-Pesa

Before initiating a withdrawal, ensure you meet the following prerequisites:

  • A valid and active PayPal account.
  • An active M-Pesa account.
  • You must link your M-Pesa account with your PayPal account.

How to Link Your PayPal Account with M-Pesa 

Here is a step-by-step guide on how to link your PayPal account with M-Pesa:

  • Visit the official website, paypal-mobilemoney.com/m-pesa.
  • Click on 'Log In' at the top right corner of the page.
  • Accept the terms of use of the service.
  • Input your M-Pesa phone number.

You're now ready to start withdrawing money from your PayPal account to M-Pesa.

Withdrawing from PayPal to M-Pesa 

Once your accounts are linked, follow these steps to transfer funds from PayPal to M-Pesa:

  • Log into your account at paypal-mobilemoney.com/m-pesa.
  • Click the 'Withdraw' button.
  • Enter the amount you wish to withdraw from your PayPal account in USD.
  • You will be redirected to a page showing the amount to be received in KES, the exchange rate used for the currency conversion, and the estimated transaction processing time.
  • Confirm and complete the withdrawal.

Please note that withdrawal processing time can vary between 2 hours to 3 days, depending on the withdrawal amount.

Costs and Limits 

While this service brings convenience, it's crucial to understand the costs and limits imposed. The service charges a 3% conversion fee for the amount withdrawn. The M-Pesa accounts can only hold Ksh. 100,000 at any one time, so be aware of this when withdrawing. Transaction limits are Ksh. 70,000 per transaction and Ksh. 140,000 per day.

READ ALSO: How to increase M-Pesa commission:Proven Strategies for Agents

Conclusion 

The ability to transfer money from PayPal to M-Pesa has simplified transactions for users in Kenya, bridging the gap between digital and mobile money. The step-by-step guide provided should make the process simple and easy to follow, allowing you to access your funds with minimal hassle.

Always double-check your details before making any transactions, and familiarize yourself with the PayPal and M-Pesa terms of service.

Frequently Asked Questions (FAQs) (H2)

Q1: What is the processing time for withdrawals?

The withdrawal processing time can vary between 2 hours and 3 days, depending on the amount.

Q2: What is the maximum amount I can hold in my M-Pesa account?

M-Pesa accounts can hold a maximum of Ksh. 100,000 at any one time.

Q3: What are the transaction limits?

The transaction limits are Ksh. 70,000 per transaction and Ksh. 140,000 per day.

Q4: Are there any charges for withdrawing from PayPal to M-Pesa?

Yes, there's a 3% conversion fee for the amount withdrawn.

Q5: How do I link my PayPal account with M-Pesa?

You can link your accounts by visiting paypal-mobilemoney.com/m-pesa, clicking on 'Log In,' accepting the terms of use, and inputting your M-Pesa phone number.

Q6: Can I send money from M-Pesa to PayPal?

Yes, you can send money from M-Pesa to PayPal, but this process is more complex than withdrawing from PayPal to M-Pesa. It involves using a third-party service.

Introducing this PayPal to M-Pesa service has brought Kenyan users a world of convenience. This step-by-step guide is intended to provide you with a seamless experience as you make your withdrawals. Remember, it's always advisable to keep updated with the platforms' terms of service for any changes in the process, fees, or limits.

What's Your Reaction?

like

dislike

love

funny

angry

sad

wow

Joseph Richard Joseph is a graduate of Mathematics and Computer Science (Applied Option). With expertise in Technology and Finance, he brings his knowledge to the field, demonstrating an authoritative understanding of these interrelated areas. Joseph is pursuing a Master's in Software Engineering, further expanding his skill set.