PayPal M-Pesa is an online mobile money transfer service. The service came into fruition when Safaricom, Kenya’s largest telco company brokered a deal with PayPal to facilitate sending and withdrawing money across the platforms.
Lately, people have adapted the trend since the withdrawal process is very easy and fast. It takes a maximum of 2 hours (Some people have said it can take up to 2 days or more) for the money to be processed on a normal day.
This cannot be compared to the 3 days that one had to wait previously with the PayPal-Equity withdrawal. If you find it hard to read all this, scroll down to the last section of this post for a quick solution to your problem.
Here is how to open a PayPal Account.
As such, the big elephant in the room has been how to withdraw and deposit money from PayPal to M-Pesa in Kenya. We have updated this post o carter to the new process of transferring money on PayPal and Mpesa.
The process has been made simple through the updated version of Mpesa Global that is available on mySafaricom app.
How to withdraw money from PayPal to M-Pesa
I wrote a review of the PayPal-M-Pesa deal here. At that time the platform was still new and I wasn’t quite familiar with some of the processes. However, we are going to go through each withdrawal and deposit detail in this review.
One thing I would like to clarify that I did not know earlier is that if the name you used to register does not match to the one you used to register your M-Pesa line, you can always change your PayPal name until it matches your M-Pesa name. I hope that is clearer now.
Onto the main topic of the day, withdrawal and depositing money from PayPal is not as straightforward as many people would expect or wish it to be. But not to worry, we are here for the exact same reason, to make it seem easy for you.
Steps to Withdraw from PayPal to M-Pesa
- This is where it all starts; open the PayPal-M-Pesa portal here
- To withdraw money from M-Pesa to Paypal, tap on the GET STARTED button that will redirect you to log in
- Log In with your PayPal credentials
- Give the service access to your PayPal account by clicking on AGREE on the popup menu
- Add your M-Pesa phone number, you will receive a verification code that you will use to LINK YOUR ACCOUNT
- Enter the amount you would like 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 of money.
- You will have to access this portal every time you want to withdraw money from your PayPal account, there’s no other way.
Update: It is now easy to transfer money between PayPal and Mpesa using Mpesa Global. Simply launch the mySafaticom app and open Mpesa global to send or withdraw money from and of the above platforms.
How to deposit from M-Pesa to PayPal
Open GooglePlay store to download the mySafaricom app.
To deposit money into your Paypal account;
- Open M-Pesa on your phone
- Go to PayBill and enter PayBill number 800088
- Enter the phone number you linked your PayBill account to as the account number
- Enter the Amount and complete the transaction.
Important to note
- The service is not free
- You will be charged certain fees such as a 3% conversion rate when withdrawing
- A transaction fee of 4% conversion rate applies when depositing
- M-Pesa PayBill charges that can go up to Ksh 220 still apply
- Transaction limits – Ksh 70,000 per transaction and Ksh 140,000 per day.
- Withdrawal amount – M-Pesa accounts can only hold Ksh 100,000 at any one time to be cognizant of that when downloading.
Following the recent update of my Safaricom app, it is now is to send and receive money globally. The process above is old and complicated let me show you an easy approach.
Other money transfer services include: