How to Withdraw Money from PayPal in Tanzania to an Equity Bank Account

How to Withdraw Money from PayPal in Tanzania to Bank

PayPal Restrictions in Tanzania

PayPal in Tanzania is restricted from receiving funds directly. Tanzanian PayPal users can send payments and make purchases, but they face limitations when it comes to receiving money. This limitation affects freelancers, online entrepreneurs, and others who rely on PayPal for international payments.

However, to receive and withdraw money from PayPal in Tanzania. To do this, you need to create a PayPal account with the “Pay and Get Paid” feature. This feature enables Tanzanian users to receive payments and withdraw to local bank accounts, including Equity Bank and others in the country.

Creating a PayPal Account with the “Pay and Get Paid” Feature

To receive payments and withdraw money from PayPal in Tanzania, you will need to set up a PayPal account with the “Pay and Get Paid” feature. Here’s how to go about it:

1. Set Up a PayPal Account: Start by creating a PayPal account using your valid personal information.
2. Ensure the “Pay and Get Paid” Feature is Available: When setting up your account, ensure that you select the “Pay and Get Paid” option from PayPal’s menu. This feature is crucial for enabling the receipt of funds and withdrawals to local banks.
3. Verify Your Account: Complete the necessary verification steps, such as linking a valid email address, verifying your identity, and linking a payment method like a credit or debit card.

Once your account is set up with the “Pay and Get Paid” feature, you will be able to withdraw funds from PayPal to your Equity Bank card in Tanzania.

Withdrawing from PayPal to Tanzania Equity Bank Card

In Tanzania, it’s generally easier and more efficient to withdraw PayPal funds using a bank card rather than a traditional bank account. PayPal tends to process withdrawals faster and with fewer issues when using a bank card. Here’s the process to withdraw PayPal funds to your Equity Bank account using a bank card:

1. Link Your Equity Bank Card to PayPal:
   • Log in to your PayPal account.
   • Navigate to the Wallet section and choose the option to link a new payment method.
   • Select Link a Card and enter your Equity Bank card details (Visa or Mastercard).
   • Complete the linking process by verifying the card. PayPal will charge a small amount to your card, which you’ll need to confirm through the code sent with the transaction. Once verified, the card will be linked to your PayPal account.
2. Initiate the Withdrawal:
   • After receiving funds in your PayPal account, go to the Withdraw Money section.
   • Select your linked Equity Bank card as the withdrawal method.
   • Enter the amount you wish to withdraw and confirm the transaction.
3. Processing Time:
   • Withdrawals to bank cards typically take 3 to 7 business days to reflect in your Equity Bank account, depending on PayPal’s processing times and your bank’s policies.

Why Using a Bank Card is Better for PayPal Withdrawals in Tanzania

When it comes to withdrawing money from PayPal in Tanzania, using a bank card (debit or credit card) is often a better option than directly linking a bank account for several reasons:

• Faster Processing: Bank card withdrawals tend to process faster, often in 3 to 7 business days, compared to longer waiting times for bank account transfers.
• More Reliable: Linking a bank card generally provides a smoother withdrawal experience in Tanzania, where PayPal’s compatibility with local banks can sometimes be unpredictable.
• Less Risk of Rejection: While linking a bank account can work, Tanzanian users have reported better success rates and fewer rejections when withdrawing funds to a bank card.

Adding Bank Details in PayPal Tanzania: Bank Account vs Bank Card

PayPal allows you to add bank details in two ways: either by linking a bank account or by linking a bank card. In Tanzania, it’s recommended to link a bank card for better reliability and efficiency.

Here’s how to add bank details to PayPal:

1. Linking a Bank Account:
   • In the PayPal Wallet section, select Link a Bank Account.
   • Enter your Equity Bank account details (routing number, account number, etc.).
   • PayPal will send two small deposits to verify your bank account. Once you receive these, enter the amounts into your PayPal account to complete the verification.
2. Linking a Bank Card (Recommended):
   • Go to Wallet and choose Link a Card.
   • Enter your Equity Bank card details, including the card number, expiration date, and security code.
   • Verify the card as described earlier to complete the linking process.

While you can add both a bank account and a bank card, the bank card option offers quicker processing and more consistent results for Tanzanian PayPal users.

Views: 3