Equity Bank has slightly reduced the cost of its PayPal withdrawal service for transactions above USD 501. Equity charges for PayPal withdrawals of between USD 501 – 1,000 for instance have gone down to 1.375% from 1.5%. The fees are even lower for higher amounts.

It’s important to note that PayPal charges for withdrawals remain the same.

PayPal withdrawals were introduced in Kenya, through Equity Bank, in 2013 and in 2015 reduced the withdrawal period to 3 days from 8 days previously.

How it works

1. Users need to have a Paypal account.
2. Users need to have or open an Equity Bank account.
3. Users will need to link PayPal with their Equity Bank account.
4. Paypal withdrawals will now 3 days to reflect in the users’ bank accounts.


1. Paypal charges: Between 2.4% and 3.9% + USD 0.30 per transaction.
2. PayPal currency conversion fees may apply at 2.5% above the prevailing exchange rates.
3. The new Equity Bank charges are below

Withdrawal Transaction Value (USD) 500 and below 501 – 1,000 1001 – 2000 2001 – 5000 <5001 and Above
Withdrawal Transaction Fee 1.5% 1.375% 1.25% 1.125% 1%

For more info about the service, go here.