What is PayPal?

PayPal is a payment service that enables you to accept payments, pay for goods and send or receive money without revealing your financial information anywhere in the world. PayPal is the safer, easier way to pay and get paid online.


PayPal’s online payment platform is used by more than 200 million users in more than 190 countries around the globe.

How does PayPal work?

  • A buyer and a seller (merchant) each have a PayPal account
  • A buyer links their credit card, bank account or a locally supported payment method to their PayPal account
  • When purchasing from a merchant who accepts PayPal, PayPal debits the payment method linked to the buyer’s PayPal account and credits the merchant’s PayPal account without exposing the buyer’s or seller’s financial information
  • The merchant can then withdraw the funds to their local bank account

Note: Kenyan Shilling is not a PayPal currency

What can you do with a PayPal account?

  • You can shop securely at thousands of online stores without revealing your credit card information.
  • Use your PayPal account to receive money from friends and family living abroad.
  • Receive online payments into your PayPal account  from buyers across the globe.
  • Perform cross border transactions safely and securely anywhere at any time, no need to stand in queues and fill out loads of paperwork.

Why use PayPal for your business?

Expand your business globally by receiving international payments online and withdrawing your money without revealing your bank account details.

  • International customers prefer using PayPal
  • You get to offer your customers a globally accepted payment method used by over 200 million users in 190 countries and markets
  • PayPal makes it easy for customers because they don’t need to re-enter card details every time they buy
  • Accept 21 global currencies and multiple payment methods e.g. credit cards, wires from Germany, etc. Kenyan Shilling is not a PayPal currency.
  • Quick set up and integration into your website
  • Affordable transaction fees
  • Advanced security features to protect the buyer and seller, reducing transactional fraud and risk

How to create a new PayPal account

  • Create a PayPal account at www.paypal.com
  • Click on ‘Sign Up’ at the top right hand side of the screen
  • From the ‘country or region’ dropdown list, select ‘Kenya’
  • Under ‘language’ pick your preferred language
  • Select either a personal or business PayPal account
  • Click on the ‘open an account’ button
  • Complete the required information and create your account
  • Your PayPal account identifier will be the email address you used when completing the PayPal sign up process.
  • Once you have successfully created your PayPal account you will need to verify the account

Please Note: To open a business account you will need to provide information such as your business name, business address and type of business.

How to verify your PayPal Account

  • You will need a debit card or credit card to verify your PayPal account
  • Log onto your PayPal account and click on Get Verified
  • When you enter your debit or credit card details, these will link to your PayPal account.
  • Once you have linked your card, complete the verification process
  • PayPal will debit a small amount from your account
  • In the statement reference for this transaction there will be a four digit security code that you will need to enter on your PayPal account in order to complete the verification process
  • The code may take up to 5 days to reflect or you can contact your bank’s card division to get this code

Please Note: *Any banks debit or credit card can be used
*Business debit or credit cards must be open to transact internationally and online

What are the transaction limits on PayPal?

PayPal maintains a transaction limit of $10 000 US Dollars per transaction.

What kind of account is PayPal?

A PayPal account is not a bank account.  It is a virtual online wallet that can be used to securely and conveniently receive payment or pay for goods and services online. You do not earn interest on a PayPal account balance.

Why can I not pay in KES?

PayPal offers the ability to receive funds and make payments in a number of currencies; Kenyan Shilling  (KES) is not a PayPal currency.

The Equity Bank Withdraw service allows you to transfer funds from your PayPal account to your qualifying Equity Bank bank account.

PayPal balances can be converted into another PayPal enabled currency by following these steps:

  • Log on to your PayPal account
  • Click “Profile” at the top of the page
  • Select “My money”
  • Select “Currencies” next to PayPal balance
  • Under  “Currency Exchange”, Enter the amount and the currency being converted to
  • Select “Calculate” then “Review Exchange”
  • Final step is to exchange currency and your PayPal balance will be converted.

How much does PayPal charge?

There’s no charge to open a Paypal account or to purchase items using your PayPal account. Certain PayPal transactions attract fees, e.g.  PayPal charges between 2.4% to 3.9% + USD$0.30 when receiving a payment and a 2.5% currency conversion fee may apply.

Visit www.paypal.com/za for more.

Equity Bank charges 1.5% of the USD amount per Withdraw transaction.

How do I pay for items or services using PayPal?

You can make payments for goods and services using PayPal by linking your credit or debit card to your PayPal account and selecting PayPal as the payment method when shopping with merchants or service providers that accept PayPal.


PayPal maintains strict security protocol by never sharing credit card or bank account details with any merchants that you might purchase from.

How do I see how much money I have in my PayPal account?

You can monitor your PayPal account balance and transaction history by logging onto your PayPal account at www.paypal.com.


When withdrawing funds from your PayPal account you are required to specify the US Dollar amount you want to withdraw. If USD is not the primary currency on your PayPal account, you can log into your PayPal account to check the USD equivalent prior to withdrawing, by following these 3 easy steps:

  • Select ‘Profile’ on the landing page
  • Select ‘My Money’
  • Select ‘Currencies’ to calculate your balance in USD.

PayPal will auto-convert your non-USD balance during the withdrawal process. A conversion fee at 2.5% above the prevailing exchange rate will apply.

What is the Equity Bank Withdraw Service with PayPal?

  • The Equity Bank Withdraw Service with PayPal allows you, a Kenyan PayPal account holder, to withdraw funds paid into your PayPal account to your Equity Bank account.
  • The Withdraw service is exclusive to Equity Bank customers, and is only available and accessible through this website, it is not available through any other banking channel.
  • The Withdraw service is available to both Individual and Business customers with an active Equity Bank transactional account or a USD denominated Customer Foreign Currency(CFC) account with Equity Bank. Funds cannot be withdrawn to a Equity Bank credit card.
  • When transacting on behalf of a business entity, the transactor must be authorised by the business to transact on the nominated business bank account.
  • When withdrawing funds from your PayPal account, you are required to specify the U.S. Dollar amount you want to withdraw. If your account contains funds in a different currency, PayPal will auto-convert those funds into U.S. Dollars during the withdrawal process.
  • PayPal has a $10,000 USD transaction limit.
  • Kenyan Shilling is not a PayPal supported currency.
  • Your qualifying Equity Bank account will be credited with the nett amount due to you after all fees have been deducted.
  • A withdraw transaction may take up to 8 business days to reflect in the nominated Equity Bank account.

How to Withdraw funds from PayPal

  • Visit the Equity Bank website and select the Equity Bank PayPal Withdraw Service link.
  • You will be redirected to the Equity Bank PayPal withdraw service website.
  • On the PayPal Withdraw Service Landing page select the ‘Withdraw from PayPal’ menu option.
  • On the customer Type selection page you will need to choose either “individual” or “Business”
  • Enter your Equity Bank account number and select the “Submit” button. Please ensure that the nominated account is registered in the individual or personal capacity performing the transaction and that you are authorised to transact on the account.
  • A One Time Pin (OTP) will be send to the cell phone number and/or email address as per the Equity Bank contact details for the nominated account.
  • Complete the information on the Personal Details / Business Details page. The Withdraw amount must be in USD.
  • View the quote and accept the terms and conditions.
  • Review the information displayed on the confirmation screen and click on the “confirm” button to proceed with transaction.
  • You will be redirected to PayPal’s website, where you need to login to the specified PayPal account and confirm the transaction.
  • Once the transaction has been confirmed, you will be redirected back to the Equity Bank PayPal withdraw services page.
  • On the results page you will see the transaction status and the transaction reference number.
  • Click on the ‘Finish’ button to complete the process.

What is a Qualifying Equity Bank account?

Qualifying accounts are most Equity Bank transactional accounts for e.g. savings, cheque and transmission accounts, which are KES denominated. Funds cannot be withdrawn to a Equity Bank credit card.

A USD denominated Customer Foreign Currency(CFC) account with Equity Bank is also a qualifying account.

What are the Terms and Conditions for the Withdraw service?

View the Terms and Conditions for the Equity Bank Withdraw service with PayPal. Click here.

What are the fees for using the Equity Bank PayPal service?

PayPal fees*

  • No PayPal set up costs
  • When receiving funds into your PayPal account, PayPal charges between 2.4% and 3.9% + USD 0.30 per transaction
  • PayPal currency conversion fees may apply at 2.5% above the prevailing exchange rate.

* Please visit www.paypal.com for more information.

Equity Bank

  • Equity Bank will quote a USD to KES exchange rate for each withdraw transaction
  • Equity Bank charges a transaction fee of 1.5% of the withdrawal amount.

How long does it take to get paid?

  • Payment from another PayPal user is instant
  • A withdraw from a PayPal account take 5 to 8 business days to reflect in your Equity Bank account.

Who to contact regarding the Equity Bank Withdraw service with PayPal?

Equity Bank contact centre
+254 20 2744000
+254 711 025000
+254 734 108000

How do I contact PayPal?

If you have a question about your account, please contact PayPal through their website, www.PayPal.com


Here's how:

  • Go to the PayPal website and log in to your account.
  • Click "Contact Us" at the bottom of any page.
  • Click "Contact Customer Service," and ask your question.