Monday, March 7, 2011

How to Withdraw Money from your Paypal Account in Kenya

Paypal is one of the largest online payment solutions in the world offering money transfer services to its customers. If you have a Paypal account, you can pay for online purchases as well as receive payments via your account. However not all services offered by Paypal are available in all countries, in Kenya for example, Paypal accounts were only used for payments and it was not possible to receive money to your account. That only meant you can deposit but not receive, in fact it was not possible to have a verified account until local banks introduced prepaid Visa cards that works alongside other Visa branded online payment solutions.

Technology in the telecommunication and banking sectors is advancing at tremendous speeds giving forth to online money making opportunities. Imagine if you have an online revenue generation opportunity but you can’t cash in, why? Because the payment system used does not work in your country, not good, right? Well Kenyans can now breathe since Paypal now works in the country. You can now deposit, pay, send, receive and withdraw money using your Paypal account.

Kenya boasts of an advanced telecommunications infrastructure in the region complemented by the landing of fibre optic cable. Exploiting the numerous online opportunities proves to aid in the development of a country and Kenya is not lacking behind. There are several opportunities to be exploited from the ICT sector, like Business Process Outsourcing (BPO) and affiliate marketing.

 Local banks have introduced Visa branded credit and prepaid cards that can be used alongside your Paypal account. It is not difficult as imagined to withdraw money from your Paypal account using a local visa branded credit or prepaid card capable of online transactions, on this instance please note that a local Visa branded ATM card does not support Paypal transactions. the common known Visa branded cards that can be used with your Paypal account include; General purpose Visa debit card from KCB, Toucan Visa card from Bank of Africa, I&M debit Visa card from I&M Bank.

You will first need to activate your Paypal account by linking it to your Visa card. On this occasion, get a valid Visa card from any of the above mentioned banks and top up with at least Kshs 500 which will be deducted by Paypal to ensure that you are indeed the owner of the Visa card, this is a security procedure. Prepaid Visa cards are preferred since you won’t be charged more than the amount on your Visa card. Other necessary precautions should be taken just incase, don’t load more than you want to spend.

Once you have verified your Paypal account, you can now use the linked card to deposit or withdraw from your account. Money received to your Paypal account from other third parties can be transferred to your Visa card and later withdrawn locally from any Visa branded machine, now that doesn’t seem complicated. Growth of Technology in Africa means more employment opportunities and revenue generation opportunities. Since it’s now possible to withdraw money from your Paypal account in Kenya, there is no need to turn down any revenue generation opportunity on basis of unavailability of Paypal services. You can even start an online business accepting payments through Paypal.

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1 comments:

You can withdraw Paypal to Mpesa, Yu Cash, Airtel Money at www.kenyapesa.com

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