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How to get more out of PayPal to Equity Transactions

Are you a freelancer earning in dollars and withdrawals via Equity Bank? There is a way you can save some few coins.

Go to Equity Bank and open a dollar account. You will need a KRA pin, a copy of your ID and $10 in cash or you can buy at the bank. It is better to have the dollar bill in cash because the rate at the bank is always high.

 

The process

Whenever you want to withdraw, always use the dollar account. You will be charged the normal PayPal to equity charges. When the three official days are over, you will be able to withdraw your dollars in hard form.

 

Possible Options

You can negotiate the rates at your branch. The rate will be higher than what you would have gotten if you withdrew in Kshs. This will save you a few coins. You should however note that your power to negotiate at Equity bank starts at $1000 or above.

The other option would be selling your dollars at the bureaus in town. You will get better rates than what the bank would offer. As a business principle, always create rapport with vendors at the bureaus. This will give you an upper hand in negotiations. Whatever rates they may have on their boards are not final or absolute.

I hope you this will help you to get more value for your dollars. All the best.

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