Did you know you can withdraw online cash in PayPal account through Safaricom M-Pesa mobile transfer service in Kenya without paying anything?
Until recently, Equity bank account was the only way though which the Kenyans making money online or carrying out business online or shopping online would access PayPal services and be able to transact worldwide through the internet web. Equity bank account was also the only way Kenyans would verify their PayPal accounts in order to lift the PayPal withdrawal limit.
Initially, it would take a long wait of up to 8 business days of waiting for the transactions to complete when one transferred cash from PayPal to his local Equity bank account in Kenya.
The waiting period was later cut to 3 business days when the Equity bank reviewed their partnership contract and it was another major breakthrough which attracted a big celebration by the Kenyans working online and getting paid income through PayPal. To date, that is the waiting period for the Equity customers transacting with PayPal.
Not long ago, Safaricom through MPesa mobile transfer service introduced Mpesa-PayPal money transfer service which came along with some benefits that were not available with paypal-equity money transfer service but at a high commission percentage rate per transaction. In fact it is double the commission charges offered by Equity. While Equity charges 1.5% commission on total amount transferred, Safaricom came with 3% commission charges.
The benefits that came with Safaricom Mpesa paypal money transfer as compared to the equity PayPal transfer service include ;
1. The transactions are faster and the customers are able to access their online money in paypal account through their mpesa accounts on mobile phones within 2 hours of initiating the transaction, as long as they have initially linked their mobile phone number with the e-mail address associated with their paypal account.
2. The amount indicated in the transaction online is the exact amount that is received in the M-Pesa mobile account. No hidden charges at all.
After the Safaricom lauched the PayPal Mpesa money transfer service, I was excited to check how convenient it was as compared to the similar service we were used to by Equity bank. The first thing to check was the charges associated to each transfer transaction and I was disappointed finding out that they charged double the transaction commission offered by Equity bank PayPal money transfer service.
I had made up my mind to stay with Equity bank service since the waiting period of 3 days was not an issue and I was used to accessing my cash either by using the Equity bank VISA ATM card or the Equity agent outlets. The issue was to be charged double the amount of commission I was used to, just like that. I was for the idea that I would only opt for the Safaricom Mpesa –PayPal transfer option when I urgently needed access to the money in my PayPal account.
The fact that I am the M-Pesa agent who is also selling Kenya Power tokens through JazaPay changed everything and I now discovered how one can withdraw PayPal money through M-Pesa in Kenya without being charged.
This is after comparing the charges I faced from the point of withdrawal from PayPal through Equity Kenya bank account until it finally landed as hard cash in my pocket.
Instead of my online cash going though the usual channels, I decided that I would be withdrawing the online cash in my PayPal account through M-Pesa. Upon reaching my mobile M-Pesa account, I can either buy the JazaPay KPLC token float and sell tokens direct to my customers, thus converting it into hard cash while at the same time making some profit on KPLC token sales.
I can also use the same amount of cash received as M-Pesa agent float balance and conveniently make direct transfers on behalf of M-Pesa customers who happen to lack phones or don’t know how to use M-Pesa to send money to their relatives far away, as long as they pay the transfer charges. No need to deposit cash to my personal phone number to send out.
I am now saving more than I ever imagined and I feel good that Safaricom Mpesa PayPal money transfer service is working in my favour as M-Pesa and Jazapay agent as well as a work from home online freelancer in Kenya.
You wonder what I do to earn consistent income online from home through the internet in Kenya?