Do you live in some of those Paypal unsupported countries? Well me i do (Uganda) but question is how i used withdraw my Paypal earnings. All i needed was a Payoneer prepaid debit MasterCard and was able to withdraw Paypal money with lots of ease from my country. However, In 2015 Paypal stopped ACH transfers to Payoneer accounts due to increase in the number of fake Paypal accounts. It’s also become so hard to link your virtual bank account to Paypal without being rejected. The ones that link successfully are automatically removed after a period of time. This article is the best Payoneer guide for beginners who are interested in joining the service and should guide you in whatever you need to know about Payoneer.
Briefly, Payoneer is a New York based financial company that provides services of transferring money online and e-commerce payment solutions. Its one of the registered member service worldwide providers of MasterCard and supports over 200 countries worldwide.
Some people are still able withdraw their Paypal money using Payoneer up to today but this is only possible when you apply a few tweaks while registering. This Payoneer guide will introduce you to Payoneer and lay out it’s pros and cons.
How to get a Payoneer Prepaid Debit MasterCard
Before you enjoy the services of Payoneer you should be having a Payoneer Prepaid Debit MasterCard implicating you must first learn how to get a Payoneer Prepaid Debit MasterCard. This is the card you will use to withdraw your money from local MasterCard supported ATM machines in your country. This card usually takes 7 – 30 days to arrive after registering for a new account and getting it approved.
Who can use Payoneer
As per this Payoneer Guide, any one can use Payoneer services. All you have to do is have an active account. To get an active account you have to sign up for an account with them. Refer to this guide for the exact steps to follow to get an active Payoneer account.
Why use Payoneer
- Paypal Withdrawals. You can withdraw Paypal earnings even from Paypal unsupported countries using Payoneer. All you need to know is how to withdraw Paypal money using Payoneer.
- Direct withdraws from ATM Machines. Payoneer lets you withdraw your earnings from any MasterCard supported ATM machines. If your country supports Local Bank Transfer then money will be sent directly to your account from a local bank else you will receive it through Global Bank Transfer.
- Online Transactions. Several E-Commerce businesses have integrated Payoneer into their payment systems and you can use it to make online transactions. You can also make transactions with any companies that support MasterCard.
- Free US Virtual Bank Account. Through Payoneer you can apply for a free US Virtual Bank Account even if you are not a resident. This bank lets you receive money through wire transfers globally and you can send the money to your Payoneer account then withdraw it locally.
- Make Money. Did you know you can make money from Payoneer? Yes you can. When you sign up for their service and receive at least $100 in your account you will receive a $25 bonus. You can also refer friends through their ‘Refer a Friend’ program and earn $25 from any friend who signs up and receive $100 on their account.
Cons of Payoneer
- Complicated Registration. Getting a Payoneer Prepaid Debit MasterCard isn’t easy as it seems. You have to complete four steps ( Apply, Get Approved, Receive Your MasterCard and Activate your account )to activate your account. This process can take up to a month depending on your location.
- Strict registration. You will need a scanned copy of your identity documents if your registration is to be approved. This is not the case with Paypal where all you need is an email address to own a functional active account.
- Access after Activation. You can only start using Payoneer after activating your account. Your account is active after registration but you can’t make any transactions until you activate your account which is after receiving your Payoneer Prepaid Debit MasterCard.
- Long Approval Period. After registration you need about 3 – 5 days for your application to be reviewed which is quite a long period of time. In some cases your application can be rejected as well implicating you don’t own a Payoneer account until you have been approved.
What if my Application is not Approved
If your application gets rejected then you have to follow the instructions on your email and try resubmitting. Alternatively you can open up another account and make sure you provide accurate credential as on your government identification card ( could be a Driver’s Licence, National Id or Passport ).
Add funds to Payoneer card
There are various ways you can add funds to Payoneer card just that it usually takes between 3 – 5 days for your card to be credited. Some procedures are complex while some are not but you don’t want stress of going through complex procedures right? I managed to note down the simplest ways to add funds to Payoneer Card.
Withdraw money from Payoneer
Payoneer currently supports 3 payment methods which are, US Automated Clearing House (ACH), international wire transfers, and local bank transfers. For local bank transfers money is sent from a local bank in a receiver’s country, international wire transfers enables users to receive money from any bank in the world through routing. For Withdrawals,
Earn Money from Payoneer referral system
The commissions are limitless. Whichever friend you refer that actively signs up and receives a minimum of $100 on their accounts will earn you a $25 referral fee. If you sign up for Payoneer and receive $100 on your account you will also be rewarded with $25. Imagine you referred 100 customers? that would be $2500 ($25 x 100) for you. To participate in this program you must be having an active Payoneer account. Sign up through this link and earn $25
Above are the essentials you need to know about Payoneer or rather the ‘Must Knows’. This Payoneer guide assumes you have no knowledge about Payoneer but even if you did, it’s good to look around for adjustments. If you like this Payoneer guide, feel free to share the word with your friends.
1 – How to get a Payoneer Prepaid Debit MasterCard
2 – Simplest ways to add funds to Payoneer Card
3 – How to Withdraw Money from Payoneer
4 – How to earn Money with Payoneer referral system