Paypal FAQs

What is PayPal?
  1. 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.
  2. PayPal’s online payment platform is used by more than 188 million active accounts in 203 countries around the globe.
How does PayPal work?
  1. A buyer and a seller (merchant) each have a PayPal account. Where the buyer doesn’t have a PayPal account, they still are able to pay to a seller who has a PayPal Account.
  2. A buyer links their debit or credit card to their PayPal account.
  3. When purchasing from a merchant who accepts PayPal, PayPal debits the amount from the buyer’s PayPal balance or from the payment method linked to the buyer’s PayPal account and credits the merchant’s PayPal account without sharing the buyer’s full financial information.
  4. The merchant can then reuse their balance or withdraw the funds to their local bank account. if available. In Kenya, merchants can withdraw their funds to their qualifying Equity bank account via the Equity bank withdraw service.

Note: Kenyan Shilling is not a PayPal currency

What can you do with a PayPal account?
  1. Transfer a payment to another PayPal account holder
  2. Receive online payments into your PayPal account from customers across the globe.
  3. Perform local and cross border transactions more safely and more securely almost 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.

  1. International customers prefer using PayPal
  2. You get to offer your customers a globally accepted payment method used by over 188 million active user accounts in 203 countries and markets.
  3. PayPal makes it easy for customers because they don’t need to re-enter card details every time they buy
  4. Accept 25 global currencies and multiple payment methods e.g. debit cards, credit cards, local payment methods, etc. Kenyan Shilling is not a PayPal currency.
  5. Quick set up and integration into your website
  6. Affordable transaction fees
  7. Advanced security features to protect the buyer and seller, reducing transactional fraud and risk
How to create a new PayPal account
  1. Create a PayPal account at
  2. Click on ‘Sign Up’ at the top right hand side of the screen
  3. From the ‘country or region’ dropdown list, select ‘Kenya’
  4. Under ‘language’ pick your preferred language
  5. Select either a personal or business PayPal account
  6. Click on the ‘open an account’ button
  7. Complete the required information and create your account
  8. Your PayPal account identifier will be the email address you used when completing the PayPal sign up process.
  9. 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
  1. You will need a debit card or credit card to verify your PayPal account
  2. Log onto your PayPal account and click on Get Verified
  3. When you enter your debit or credit card details, these will link to your PayPal account.
  4. Once you have linked your card, complete the verification process
  5. PayPal will debit a small amount from your account. (The amount will be refunded once the verification process has been completed).
  6. 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
  7. 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?
  1. Equity Bank maintains a transaction limit of $10 000 US Dollars per transaction.
What kind of account is PayPal?
  1. 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 account.

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

  1. Log on to your PayPal account
  2. Click “Profile” at the top of the page
  3. Select “My money”
  4. Select “Currencies” next to PayPal balance
  5. Under “Currency Exchange”, Enter the amount and the currency being converted to
  6. Select “Calculate” then “Review Exchange”
  7. 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. for more information

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

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:

  1. Select ‘Profile’ on the landing page
  2. Select ‘My Money’
  3. 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?
  1. 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.
  2. 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.
  3. 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.
  4. When transacting on behalf of a business entity, the transaction must be authorized by the business to transact on the nominated business bank account.
  5. 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.
  6. Equity Bank has a $10,000 USD transaction limit.
  7. Kenyan Shilling is not a PayPal supported currency.
  8. Your qualifying Equity Bank account will be credited with the net amount due to you after all fees have been deducted.
  9. A withdraw transaction may takes 3 business days to reflect in the nominated Equity Bank account.
How to withdraw funds from PayPal
  1. If you have a PayPal account and you would like to withdraw money to your Equity Bank Account click on ‘withdraw your money’
  2. With your portal user name and password, log in to the site. If you are new, click register and follow the process of registration (the registration Process is a one-time process)
  3. On the menu click "Banking services"
  4. Enter your nominated bank account and click "Link Account"
  5. A One Time Pin (OTP) will be sent to the official cell phone number maintained by Equity Bank for the nominated account
  6. Enter the OTP and click "Confirm OTP"
  7. If successful, a confirmation message will be displayed “Account has been successfully linked. Enjoy our Online Banking services"
  8. On the menu list click "PayPal Services"
  9. Enter your PayPal email address, select the bank account added in step 4 above and click "Link Account"
  10. You will be redirected to PayPal window pop up. Key in your PayPal Account Password and click "Authorize"
  11. You will be redirected back to your Equity Bank website page with a message “Your PayPal account has been successfully Linked”
  12. On the PayPal Services Menu, click "Withdraw Service"
  13. Select your PayPal account linked previously
  14. Key in the amount to withdraw. The amount must be less than or equal to your PayPal Account Balance
  15. Click "Accept"
  16. You will receive a message “"Your PayPal withdrawal of amount X was successful". Your bank account will be credited within 3 business days”
  17. View the Terms and Conditions for the Equity Bank Withdraw service with PayPal
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, EUR, GBP denominated Customer Foreign Currency (CFC) account with Equity Bank also qualify.

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*

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

* Please visit for more information.

Equity Bank
  1. Where payment is made into a KES/EUR/GBP Equity Bank bank account, the payment will be based on the USD/KES/EUR/GBP Bank’s exchange rate prevailing at the time of effecting the transaction into your equity bank account
  2. Equity Bank charges a transaction fee of 1.5% of the withdrawal amount.
How long does it take to get paid?
  1. Payment from another PayPal user is instant
  2. A withdraw from a PayPal account take 3 business days to reflect in your Equity Bank account.