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.

How to Verify Your Paypal Account in Kenya

Third world countries like Kenya are still new to understanding the concept of making money online. Only a few understand this concept and have been successful but refuse to share their secrets. Walter Akolo is one of the successful Kenyans that decided to reveal his secrets to the world. I thank him for showing me the process of finally verifying my PayPal account.


Before thinking of even registering for a PayPal Account, you must activate your ATM Card.

How to Activate your Local ATM Card

Step 1: Go to your local bank for example: Co-operative, Equity, I&M, Standard Chartered, Barclays, etc and request them to enable your Visa or MasterCard for online transactions. Personally I went to Co-operative Bank of Kenya. They will give you a form. 

Step 2: After filling the form, submit it to the help desk and they shall inform you how long they will take to make your Visa or MasterCard accept online transactions. At Co-operative Bank they told me to wait for two hours so that they process the online activation.

Step 3: After waiting for the period of activation to complete, then sign up for PayPal.


How to Activate your PayPal Account

Step 1: Sign Up for PayPal.

Step 2: Complete the PayPal Registration Form and click the “Agree and Sign Up” Button.
Ignore the step of how to link a bank account/credit card to your Paypal account at the moment. I will write about that step in my next article. 

Step 3: After Registering for Paypal your account looks like this

verify, paypal

In the image above I bet you noticed the red circle that has highlighted the word Get Verified, click Get Verified on your PayPal account.

Note

Make sure your local account also known as your Kenyan Bank Account has the equivalent of at least 1 dollar so that paypal can use the 1 dollar to verify your account. In other words, your local bank must have at least Ksh 88 because 1 dollar = ksh 88. But just deposit ksh 100 into your local account so as to be on the safe side. 

Read About: How Kenyans Can Withdraw Money from PayPal

Step 4: Enter your local Visa/MasterCard details correctly and for those that don’t know where to find your card number and security code look at the image below. The orange rectangle indicates the location of the card number and the yellow circle shows where to get the security code. Click continue after filling in the details.

account
Step 5: After clicking continue you will see an image like the one below. Then wait for 24 hours for Paypal to send you the code to your bank account.

kenya

Step 6: After 24 hours, go to your bank and request for a Bank Statement for that month. You will pay a fee for your Bank to process your statement. At Co-operative Bank, a Bank Statement costs ksh 100 per page.

Step 7: After receiving your Bank Statement, look for the transaction that has this statement PP*1234CODE>
 
Step 8: The 1234 is your PayPal code. Note I have used 1234 as an example. 

Step 9: Login to Paypal, Select Get Verified, Click Continue, type the PayPal Code and click confirm.

Step 10: Your account will be verified and even PayPal will send you an Email proving it.

Verified


Benefits of Having a Verified PayPal Account

1 You will have unrestricted access to withdrawing and receiving online money.

2 Companies like to work with Verified PayPal Accounts compared to Unverified PayPal Accounts.

Conclusion

Verification of PayPal Accounts was quite difficult 2 years ago. This was because, Kenyans were still figuring out the process of verification. Also the people that finally figured it out refused to share the secret. But now this article has revealed the secret to all.

Please share this article with those that want to learn about Paypal Verification in Kenya.

This has been Wilfred Imbukwa,

Signing out.