Have you ever heard people complaining about Kenyan banks or Kenyan institutions in general? Well, this one institution makes me forget that I am in Kenya. ePay Kenya does PayPal, Skrill and Mpesa withdrawals but so does Equity and Payoneer. What baffles is their level of efficiency. These people are simply not Kenyan. They respond to emails within minutes, minutes. They respond to each query no matter how absurd it is and they do it politely.
Now, withdrawing is all about being secure, timing and the exchange rate. ePay Kenya beats Payoneer on timing and being secure easily. On timing, you receive your payment on Mpesa in under an hour after starting the transaction. On being secure, ePay Kenya is more secure than Payoneer and Equity, in my opinion. They have improved on exchange rate and they keep on improving which is good… just an opinion.
Payoneer is also good for those who have the Payoneer MasterCard. The transactions come through within two days and the rate is okay. Payoneer is efficient and you will not experience problems after you set up your account successfully. The rates charged for their service are inconsequential and the yearly payment for the service is negligible if you plan for it. Failing to plan for it can seriously destabilize your finances so prepare for it. Check the history of your transactions, determine the date of the last yearly payment and then prepare for the following yearly payment.
Equity has the best rate but the worst timing. It takes 8 days for the cash to reflect in your account but it rarely takes more time than that. It can take six to seven days at times but plan for eight days so that your plans remain unaffected by any eventuality. The problem with Equity is their legendary customer service. You will suffer from a headache or a possible heart attack if that money does not reflect in your account. The customer service agents at Equity are just starting to grasp PayPal –Equity transactions so do not expect much from them. Luckily, these transactions rarely fail to reflect in your account.
– Withdrawing $50 from ePay Kenya would give you Kshs.3654 in one hour. It gets a five out of five in terms of efficiency rating.
– Withdrawing $50 from Payoneer would give you Kshs.4100 in 48 hours. It gets a four out of five in terms of efficiency.
– Withdrawing $50 from Equity would give you Kshs.4258 in 192 hours (8 days). It gets a three out of five in terms of efficiency.
Other withdrawal methods exist. If you know of any company that I have failed to mention e.g. Glo Money then please share this information with others in the comment section below. Please note the above figures are just estimates and they may change from time to time.