Earlier I had done an article on how to top up your PayPal using Mpesa, in this article am going to guide you through how to withdraw from PayPal to Mpesa.
This new service is operated by TransferTo, a B2B mobile payment company. To withdraw from your PayPal Mpesa you need to do the following;
1. Log into your account at paypal-mobilemoney.com/m-pesaand click “Withdraw”.
2. Enter the amount you would like to withdraw from your PayPal account in USD. You will be redirected to a page showing the amount to be received in KSH, the exchange rate used for the currency conversion, and the estimated transaction processing time.
3. Confirm and complete the withdrawal of money.
Its important to note that you will be charged a 3% conversion fee of the amount withdrawn.
This transaction takes between 2 hours and 3 days for the money to reflect in your M-Pesa account depending on the withdrawal amount. The higher the amount, the longer it will take.
The amount to be withdrawn should not exceed Ksh. 70,000 per transaction and Ksh. 140,000 per day.