How to transfer PayPal funds to your Kenya account using Payoneer.
Payoneer gives you a US bank account that allows you to withdraw fund from your PayPal account to your local Kenya account (among other fund transfer services). With the increased signup by Kenyans for online jobs and websites…most Kenyans end up with money in their PayPal account with no clear way of withdrawing the funds to their Kenya shilling account as PayPal requires a US based bank account for you to withdraw fund. This is where Payoneer comes to the rescue. Payoneer is a global payment service that gives a U.S bank bank account to non U.S citizens.
There are four ways you can utilize / transfer funds from your PayPal account:
- Use the fund to buy goods/ services online. You can buy books, web hosting, Domains etc
- You can use PayPal to M-PESA services by Kenyan businesses.These have limits of how much you can withdraw.
- Use PayPal to Equity Bank service
- Use Payoneer. (Steps outlined below)
This is a simple guide on how to withdraw the funds to your Kenyan bank account from PayPal using Payoneer
- You already have a verified PayPal account.
- Register for a Payoneer account
- In the Payoneer account, you will add details to your Kenyan Bank account
- After verification, check at Payoneer’s Global Payment Service page for details to your US bank account
- Login to PayPal and click on add bank account under business profile and setting
- You will see the below screen
- Enter your US bank details as provided by Payoneer in the steps above.
- Any time you need to withdraw funds from PayPal, just click on Withdraw funds and select the US bank account. The funds will be immediately reflect in your Payoneer account from where you can withdraw to your local bank account.
Payoneer allows you to withdraw limits varies but I have seen users with maximum withdrawal limits of USD 10,000
Payoneer account allows you to received funds from Fiverr, UpWork, Freelancer, Topcoder, Getty Images and Trade Doubler among others.