PayPal is an American worldwide online payments system. Online money
transfers serve as electronic alternatives to traditional paper methods like checks and money orders. PayPal is one of the world’s largest internet payment companies. (Wikipedia)
In Kenya, Equity Bank among other banks supports PayPal payments. To get a PayPal account, go to any of their branches across the country. So, what are the steps involved in setting up the PayPal account?
- Visit PayPal website (www.paypal.com) and Sign Up for an account. This step is for those who don’t have a PayPal account yet. If you already have a PayPal account, then skip steps 1-6.
- Open an account as either an individual or a business. (In this explanation, it is an individual account) There is no charge in opening an account with PayPal.
- Key in your accurate information in the required fields. Make sure you provide an active email address. A confirmation will be sent to the email you provide. The same email will be used to recover your account in case your account incurs problems in future.
- Input the Captcha and press Enter.
- You will then be prompted to provide your credit card details. Input your ATM number. If you don’t have the debit card, click on “Go to My Account”. This will redirect you to your account.
- You will be required to confirm your email address. Sign in to your email address and trace the email with the confirmation link (i.e Welcome to PayPal). If the email lacks a confirm button then copy the link and paste on your browser.
To Link your PayPal and Equity Bank account:
- If you have a debit card, then go to your PayPal account and find the link labelled “Link and Confirm my Debit or Credit Card”. Click on it (also assuming that you had skipped step 5)
- Now add your Visa or Master Card details (as on your ATM card). Your number is the 16-digit on your ATM card. The last three digits at the back of your ATM card are the security code. Ensure you have at-least $1.95 USD (200/- Kenyan shillings) in your account. This amount, which is refundable, will be used by PayPal to verify your account’s validity.
- Click Continue…
- After 24hrs or 48hrs, request an ATM statement from your bank. The statement contains your verification code which you will need to complete setting up your PayPal account.
- Log in to your PayPal account and click on “Link and Confirm my Debit/Credit Card”.
- Follow the steps provided and enter the Transaction Code. And you are good to go. Deposit cash into your Equity account to start selling and buying online using your PayPal account.
- You can link other bank accounts (if any) with your PayPal account by going to your Profile >> My Money
Conclusion:
In the current market, most transactions are performed at a click of a mouse. You can buy goods which are 1000miles away at your ease thanks to e-commerce. PayPal allows carrying out any amount of transactions you wish to. You can buy and sell worldwide with no restrictions to boundaries. Pay a visit to any Equity branch nationwide for more inquiries.
