PayPal Money Withdrawal Soon

Post by Mark

If you’re a PayPal user you probably already know that as residents of Kuwait, we don’t have the ability to cash out our PayPal credit. Meaning if someone sends you $100 with PayPal, there is no way of withdrawing that money or depositing it into your bank account.

But according to a reader this might change come October. According to the reader, he recently got a call from PayPal for a survey and at the end of the call, he asked them about money withdrawals in Kuwait. The PayPal representative told him that money withdrawals would be activated in October with NBK.

Hopefully this is true since I know a lot of small businesses who want to open up online websites and accept credit card payments but can’t afford the high rates of our local banks. PayPal would be a much more affordable option for them and work easier with ecommerce sites like SquareSpace and Shopify.

Thanks Jassim

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11 comments, add your own...

  1. Kuwait says:

    Why only NBK? If paypal operates in a country, it usually works with all major banks.

  2. fahad says:

    im more concerned if it going to have buyer protection.

  3. Kuwaitiful says:

    It’s likely going to be exclusive to NBK account holders though, which is fine since the user isn’t affected.

  4. Ali Sleeq says:

    That’s good; now I can sell stuff on eBay freely!

  5. Infusions kw says:

    Good news indeed! That would certainly take my website to another level because international orders are 80% turned away because we dont have paypal due to fact i couldnt convert a purchase to cash

    • MousePotato says:

      I’m trying to open up an online store for all types of tools in Kuwait. Do you think there is a market for that and what would you consider the best way to market the store?

      Hope you can give me some advice.

  6. ahmad says:

    Great piece Mark, always on top of good news!! That’s why xcite has launched Paypal here ?

  7. Mohamad says:

    Hello, so is it working now?

  8. AL says:

    The problem is with the central bank of kuwait. They are refusing the PayPal people to allow withdrawals in kuwait. PayPal people were trying to make us withdraw funds from our PayPal accounts to kuwait credit cards just like KSA and UAE but the central bank of kuwait won’t allow them for the excuse of money laundry as I understood. This is no place for small businesses or online business. Maybe in another 100 years we will catch up with our neighboring countries and another 100 to catch up with the rest of the world.

    • AL says:

      Not to mention the people here who would take advantage of this PayPal service and use is to fraud others and give us more of that bad reputation which we already have. And if you are selling stuff online and want to ship cheaply via local post offices, then good luck with that!! Cause you will not be getting any protection from PayPal as a seller due to not having an online tracking for any of the mailing options that the local Kuwaiti post offices provides.

  9. Raghda says:

    It’s December and not activated yet. :|

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