Equity Bank Announces Kenyans Can Now Instantly Withdraw Money From PayPal

Equity Group Foundation Executive Chairman Dr. James Mwangi addresses scholars and guests at the 2023 Wings to Fly scholarship commissioning event held at Pangani Girls High School
Equity Group Foundation Executive Chairman Dr. James Mwangi addresses scholars and guests at the 2023 Wings to Fly scholarship commissioning event held at Pangani Girls High School on January 23, 2023.
Equity Group

Equity Bank on Monday, March 4, announced the review of PayPal's withdrawal period from the 24-hour withdrawal period to the new instant withdrawal.

Equity Bank Managing Director Gerald Warui explained that the reduced settlement period will support businesses and individuals to better manage their cash flows more effectively.

"The enhancement of the withdrawal capacity will be a major boost to local PayPal users and is in line with the fast growth of cross border trade," he added.

On the other hand, Mark Mwongela, PayPal's Director for Middle East and Africa emphasised that this review would provide real-time access to funds for millions of Kenyans. He noted that this was in line with PayPal's commitment to support local digital growth and cross-border payments.