Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books
No Result
View All Result
  • Login
Potentash
No Result
View All Result
Equity Bank Money Transfers Allow You To Receive & Send Money Conveniently

Equity Bank Money Transfers Allow You To Receive & Send Money Conveniently

Mwaura Jo Seph by Mwaura Jo Seph
22 June 2016
in Business, Business Finance, Kenya, News
Reading Time: 5 mins read
1.6k 51
0
2k
SHARES
11.2k
VIEWS
FacebookTwitterWhatsApp

What you need to know about Equity Bank Money transfer services

Money transfers is one of the ways in which people in the diaspora send money to Kenya for investments and family use. Money from the diaspora is in the billions and sometimes there is a frustration for people sending the money that it takes time to go and deposit the funds and usually the amount that is charged for the transfer is also significant. Also on the other end the people getting the money also have to go to the money transfer to get the funds and they have to do it within normal banking hours.

Equity bank has partnered with major financial institutions such as VFX financial PLC from UK and FNB from South Africa to make it easy for its customers to remit money from abroad to Kenya. At an event to acquaint participants with information on how the money transfer service works and the impact it has had on the Diaspora customers who use it to transfer money from abroad, Equity bank officials shed light on two of their key avenues -Equity Direct and PayPal. Here’s information you might need to know concerning these services.

Equity transactions

EQUITY DIRECT

Launched in September 2013, this is a service offered exclusively by Equity bank in partnership with VFX financial PLC from UK. Previously, UK was the only country sending money in the country but the service has spread to most countries in Europe. With this service, Kenyans in the UK and Europe can send money to any Equity Bank account in Kenya or to other bank accounts in Kenya or mobile wallets. This service can also be used to send money to individuals, churches, NGOs and other businesses. The recipient of the money can receive the money in the same foreign currencies such as GBP, EUR, USD or in Kenya shillings in their accounts or mobile wallets.

Features of this service

Real Time. Once funds are sent, they are instantly delivered to the beneficiary’s bank account.

Convenience. This is an online service and therefore you can send money from whichever place you are at.

Affordability. Unlike other money transfers service the service is very affordable. The maximum charge is 4 pounds and a minimum of 1 pound.

Flexibility. This service allows you to conduct both large and small transactions. You can send upto 8500 Euros per transaction.

Security. You are guaranteed security for your online transactions.

Ease of use. The service is easy to use. You are required to be residing in Europe.  All you have to do is sign up for this is to sign up for Equity Direct account online by following a simple three-step guide by visiting www.equitydirectafrica.com. You can also download the app from the Apple app store or the Play store for android users. Making a transaction requires that you follow the easy steps once you log into your account. You will receive an email confirmation and an SMS message to activate your account.

PAYPAL

While Equity Direct focuses more on sending money, PayPal on the other hand focuses on paying and getting paid. This payment service operates through internet and mobile in a fast, secure and global way. It is currently present in 193 countries and payment can be done in about 26 currencies. Just like Equity Direct, PayPal is also exclusively operated in Kenya by Equity Bank in partnership with FNB in South Africa and PayPal. This service was launched in Kenya in June 2013 and Kenya is the only country in the region to benefit from it.

A PayPal account enables you to do the following:

-Shop securely at thousands of online stores in the world without revealing your debit information.

-Receive money from friends and family in the Diaspora

-Receive online payments into your PayPal account from buyers across the globe

-Helps you to conveniently perform cross border transactions safely and securely without need for any paperwork.

PayPal is currently being used by approximately twenty thousand users in Kenya. To be able to make or receive payments, a buyer and a seller each must have a PayPal account. The buyer links their debit/credit card to their PayPal account when purchasing from a merchant who accepts PayPal. PayPal then debits the payment method linked to the buyer’s PayPal account and credits the merchants PayPal account without exposing the buyer’s financial information. It is then possible for the merchant to access their funds from their local bank account. When two people are using the service, payment is instant. It is important to note that it takes about 5-8 days to have funds credited to the recipient’s account but Equity is working to have this duration minimized. Equity is working on the time it takes to credit the amount and hopefully in the future it will take 1-2 days.

Equity Bank Withdraw Service with PayPal is exclusive to Equity Bank customers. It allows a Kenyan account holder to withdraw funds paid from their PayPal account to their Equity Bank account. This service can be accessed through www.epal.equitybankgroup.com. The service is available to both individuals and Business customers with an active qualifying Equity Bank transactional account which includes USD denominated Customer Foreign Currency (CFC) accounts with Equity Bank. It is easy for individuals or businesses to create a PayPal account. All you are required to do is visit www.paypal.com/ke and follow the guidelines filling in the relevant information that suits you.

To qualify for PayPal, Withdraw Service from Equity Bank, the following are the customer requirements

  • A verified Kenyan PayPal account
  • A qualifying Equity Bank account (current or savings)
  • Funds in the PayPal account to withdraw
  • Access to the FNB hosted withdraw portal
Share810Tweet506SendShare142Pin182
Previous Post

Safaricom Marathon: Interview With Geoffrey Chege, Head Of Conservation And Wildlife At Lewa Conservancy

Next Post

Kenya: It’s time we standardized our national sporting colors

Mwaura Jo Seph

Mwaura Jo Seph

I am an upcoming creative writer and pencil artist who has passion for anything art. I like travelling and meeting new people. I am currently pursuing commerce, finance major at the university of Nairobi. Through my writing, I hope to impact in the lives of people. I run my blog at www.mwauramswati.wordpress.com

Next Post

Kenya: It's time we standardized our national sporting colors

Please login to join discussion

Recommended

10 Mistakes To Avoid While Using Your Washing Machine

Lifestyle And Technology: 8 Things To Look Out For When Buying A Washing Machine

17 August 2020
3.2k
Step-Families: 6 Important Things To Consider When Blending A Family

Step-Families: 6 Important Things To Consider When Blending A Family

27 April 2015
752

Popular Stories

  • The Singlehood Series: I Went On A Date A Month After My Father Passed Away

    He Said I Was Wife Material, Then Married Someone Else

    324 shares
    Share 129 Tweet 81
  • She Expected A Proposal, But He Left Her Because She Was Too Independent. Will She Ever Find True Love?

    193 shares
    Share 77 Tweet 48
  • He Ghosted Her After Three Perfect Dates, Then She Saw Him At Church

    121 shares
    Share 48 Tweet 30
  • We Met At Heaven’s Gate Prayer Retreat. The Chemistry Was Not Holy

    47 shares
    Share 19 Tweet 12
  • He Broke Her Heart And Humiliated Her. Then They Met Years Later At The Office And Now He Was Her New Boss!

    817 shares
    Share 327 Tweet 204

Potentash Blog

Potentash is an award-winning lifestyle blog. We publish lifestyle content that intersects with health, women, beauty, travel, business, relationships, finances and entertainment.

Explore

  • The Singlehood Series
  • From Stairs To Ramps
  • Man Around Nairobi
  • Pearls And Heels
  • Personal Finance
  • Food + Beverage
  • Editor’s Pick
  • Reviews

Get the Potentash Newsletter

  • Newsletter Archive
  • Subscribe
  • Frequently Asked Questions
  • Privacy Policy
  • Contact Us

Copyright © 2023. Potentash, In Partnership with Decima

Welcome Back!

Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
No Result
View All Result
  • Relationships
    • The Singlehood Series
    • Dating
    • Sex
    • Parenting
  • Lifestyle
    • Home
    • Food + Beverage
    • Fashion
    • Interviews
  • Stories
    • The Singlehood Series
    • Fiction
    • Poetry
  • Skin + Beauty
    • Skin
      • Skincare
    • Hair
      • Haircare
  • Wellness
    • Physical Health
    • Emotional Wellness
    • Mental Wellness
    • Social Wellness
    • Spiritual Wellness
  • Business
    • Business Finance
    • Personal Finance
    • Entrepreneurship
    • Investments
    • Personal Investments
  • Entertainment
    • Internet
    • Events
    • Music
    • Books

Copyright © 2023. Potentash, In Partnership with Decima