Wednesday, 3 July 2013

How Kenyans Can Withdraw Money from PayPal

For those Kenyans that haven’t registered for PayPal click the link below.


When you start earning money online, the company that gave you the job will pay you via PayPal. What I mean is that they will send you the money to your Verified PayPal account. They will not send you the money through Moneygram or Western Union due to security reasons.

It is highly important that you:-

1 Understand that you cannot Withdraw Money from Paypal to your Kenyan Bank Directly.

2 Link your Payoneer MasterCard to your Payoneer Account and finally PayPal Account.

3 Transferring money from your Paypal account to your Payoneer MasterCard.

4 Withdrawing your money from Kenyan Banks that Accept Master Card.

1: Understand that you cannot Withdraw Money from Paypal to your Kenyan Bank Directly

Due to the fact that Kenya has not passed Anti-Fraud Laws, PayPal cannot enter into agreements with Kenyan Banks. Therefore, you must use another means of receiving the money from PayPal which is through using the Payoneer MasterCard.

Why do online companies insist that your PayPal account has to be verified? It’s because they do not know you. They can send the money to the wrong person or email address. Account Verification is the process of using your Kenyan Visa/Master card to show PayPal that you are a real person. Once you give your details of your local (Kenyan) ATM card to PayPal then PayPal will access your account number to see if you are real. Once PayPal sees that you are real then it sends you the code for verifying your account.

2: Link your Payoneer MasterCard to your Payoneer Account and finally PayPal Account

For a better understanding of the Payoneer Prepaid MasterCard, please read my review about the card by clicking the link below.

Visit: Yuval Tal Payoneer Prepaid Master Card Review

If you have not registered for a Payoneer Account, then visit their website by clicking the link below.

Visit: Payoneer Prepaid MasterCard Website

After registering for Payoneer online, they send you the Payoneer MasterCard for free via ordinary mail to your post office box in Kenya. The Payoneer Customer Support Team will be communicating with you via your email address you used to sign up for the card. After 1 month of waiting, you will receive the package that contains the instructions letter with your card. If the card is not delivered in 1 month, you can always contact customer care via your email address and they will sort you out. 

If you don't want to wait for 1 month for the Card delivery, Payoneer Customer Support Team will give you the option of Fedex but its not free.

I remember after one month of waiting, I went to my post office box and found that the Payoneer Card was not delivered into my box. I asked post office whether they received my parcel and they said that they didn't.( Typical of Kenya Post Office. They did not want to admit that they lost my parcel)I contacted Payoneer Customer Support Team and explained the problem. They therefore, sent me another Payoneer Card and had to wait for another one month. After one month of waiting, I checked my Post Office Box and found the Parcel.

The next step is linking the card to your Payoneer Account.

The steps are:-

Step 1: Go to the Payoneer Website and click on ‘My Account’. See the Yellow Arrow.

kenyans

Important: Login to Payoneer

Step 2: Enter your User Name and Password (set when you applied for the card) to log in.

Step 3: Click on activate your card.

Step 4: Select your 4 digit PIN number and submit.

Step 5: You will receive an email confirmation for activation.

Step 6: On the Services Menu select US Payment Service

Money

Payoneer’s US Payment Service provides you with a US Account (Bank Name), Bank Routing Number and Your Account Number. These are the details you need to provide to your verified PayPal Account. 

Bank Name

Step 7: Log into your Paypal account, go to the Profile Menu and select Add/Edit Bank Account.

Profile

Step 8: Fill in all the details from the Us Payment Service. Remember to select Checking on Account Type. 

Checking

Step 9: Finnish the whole process and you have successfully linked your Payoneer Card to your Payoneer account and also PayPal account.

3: Transferring Money from your Paypal Account to your Payoneer MasterCard.

I will take an example to explain this practically. Let me say that there is an online company that wants to send you $10. They will ask for the name of your Verified PayPal Account so that they send you the money.  After sending the money, PayPal will inform you by sending a message to your Email address that they have received the $10 from the online company and have debited your account. 

PayPal Balance

The next step is transferring the $10 or $7 or whichever amount you wish to send to your Payoneer Account. On your PayPal account, select withdraw and click withdraw funds to your bank account.

Withdraw


Withdraw Funds

After selecting withdraw, enter the amount you wish to remove and click continue. PayPal will send you an Email indicating that they are transferring the amount to your Payoneer Account. It usually takes 3 business working days to transfer the money. 

After the 3rd day, Payoneer will send you an Email indicating that they have received the money from PayPal and they have loaded your money to your Payoneer Account. This means that your Payoneer Master Card contains the money.

4: Withdrawing your money from Kenyan Banks that Accept Master Card

Go to any of the following banks to withdraw your money. These banks accept master card; I&M Bank, Barclays, PesaPoint and CFC Standbic Bank Limited.

Conclusion

It is very important to know how to withdraw money online because this is the future of transacting business.

This has been Wilfred Imbukwa,

Signing Out.

3 comments:

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