Withdrawing PayPal funds has been a problem for many online workers and freelancers in Kenya. However, things are getting better and today; you can get a US debit card that you can use to withdraw PayPal funds in Kenya. This is the cheapest option available and it is the safest way to withdraw your dollars than the PayPal mpesa methods.
How do you apply?
What you need to do is register with the card issuer and you will receive your card within a period of one month. It is easy to register, as you only need to provide your postal address and street address as well as names and identification document.
When filling the street address, ensure that you do not exceed 25 characters and it should be a home street address and not a business street address. The section of postal and street address is where many applications do not get it right and their applications are returned. However, if you do not fill the details correct and the application is returned, you can make the corrections and send the application again.
When you receive the card, you can now withdraw PayPal dollars in ATM machines in Kenya, which have a MasterCard symbol. For me, Barclays has worked perfect. You use the “universal” option on the ATM to withdraw your PayPal money.
How much can you save?
You can save money with this card because you do not pay the charges that third parties charge for PayPal transactions. The third parties like e-pay charge more than 10 percent. This means that if you are withdrawing $500 dollars with e-pay, you pay more than $50 dollars in charges. This translates to Kshs. 4,000 for every transaction you make for $500 with the third parties.
With the card, withdrawing from PayPal to the debit card is free and it means that PayPal does not charge anything. This is because the money is in a US checking account. PayPal does not charge for withdraw transactions with a US bank. However, the card issuer charges 1% of the total amount you are loading to your debit card.
At the ATM, to withdraw $500, which is equivalent of $40,000 shillings, you only pay about 2.5 dollars in ATM charges. This means that it will cost you about 5 dollars ATM loading charges for $500 at the rate of 1% and the ATM withdraw charge of about 2.5 dollars for Kshs 40,000.
The total cost is $7.5 dollars. When you compare with the third parties which cost you more than $50 dollars for withdrawing $500, it means that you saving over $40 in every transaction of $500 dollars. You can imagine how much money you will save in one year. This is surely the card you should go for to withdraw PayPal funds in Kenya safely and cheaply.
How long does it take?
It takes about 3 days for the transaction to be completed. When it is completed, the amount is right in your US bank checking account and you are notified that you account has been loaded. When the money is in your account, you can walk into any ATM with MasterCard symbol and withdrawal your dollars. Barclays Kenya works perfectly. I also believe that Standard Chartered bank also works for the card. Although KCB has a MasterCard symbols on their ATMs, this card does not seem to work with their machines. I do not know why but you can trust Barclay to withdraw your PayPal funds in Kenya from ATMs using the debit card. Register for free here and start enjoying the cheap rates of withdrawing your paypal dollars.
The cheapest way for paypal kenya withdrawal is by using a debit card. However, since no bank in Kenya issues such a card, you can get one from the US.
How get a US debit card for your paypal withdrawal in Kenya
Withdrawing paypal kenya funds has been a challenge for many Kenyans despite the large number of people working online. If you are a freelance writer, blogger or an online trading partner, you need to be able to get your money conveniently.
Apparently, direct withdrawal of your dollars from PayPal account to a local bank is not possible in Kenya and in most cases, people reply on third party means of withdrawal. Although there have been third-party e-currency withdrawal sites, they have been charging hefty fees. The third party e-currency withdrawal sites charge somewhere between 10 to 12% in commissions plus withdrawing fees.
They also do not offer dollars in the current exchange rates. This means that people who would like to withdraw from PayPal lose about $10 for every $100 they want to withdraw. They are also charged for MPESA withdrawal. However, this process has been made easy with a US debit card, which is very easy to obtain.
All you need is to provide your details and it will be mailed to you.
You need to differentiate between “physical address” and “postal address” when you are applying as this is one area where many people do not get it right. Loading your money in this card from PayPal is free since you are given a US bank account. In addition, the withdraw charges are very little. If you are withdrawing for instance, $500, which is equivalent of KES, 40,000, you will only be charged about 2.5 dollars from the ATM.
This card works pretty easy with Barclays bank Kenya ATM machines. If you want a hassle-free way to withdraw paypal funds Kenya, then you need to use this card. The good thing is that the card is issued free and you do not have to spend anything. It will be mailed to you in the postal address you provide.
Apply your debit card for free now
