Withdrawing your PayPal funds to M-Pesa is now quicker and also more secure with the Safaricom’s PayPal to M-Pesa service. With the help of TransferTo (a B2B mobile payment firm), the telecom has launched the service to boost its mobile money service. Read on to learn how to withdraw PayPal money using M-Pesa in Kenya and anywhere else.
How to Set Up PayPal-M-Pesa Account
In order to set up this account, you need first of all to have an active PayPal account. You then need to go to paypal-mobilemoney.com/m-pesa and log in. The next step is to agree to terms and conditions of the service to proceed. Finally, you need to add your M-Pesa phone number to complete the set up.
How to Withdraw Money from PayPal to M-Pesa
First, log into your account at paypal-mobilemoney.com/m-pesa and visit the Withdraw section. On this area, you need to enter the amount to withdraw in U.S. Dollars and continue. The next page will show you the amount you will receive in Kenya Shillings, the exchange rate and also the processing duration. The last step is to confirm the details above to complete the withdrawal process.
Important Things to Note for the PayPal-M-Pesa Service
Costwise, the service charges a 3% conversion fee of the amount withdrawn. As far as exchange rate is concerned, the rate depends on the world’s money markets. Concerning the withdrawal duration, it takes between 2 hours and 3 days for the money to appear in your M-Pesa account. In addition, the maximum withdrawal amount is KSh. 100,000 and transaction limits include KSh. 70,000 per transaction and KSh. 140,000 per day.
In conclusion, Safaricom aims to make PayPal-M-Pesa withdrawals faster and also more secure. As you can see, the process is short, and since PayPal and M-Pesa are reputable, you can be assured of a secure process and also great customer service.
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