Struggling to withdraw money from Payoneer? Withdrawing money from your Payoneer account is way easy than you think except for the days it takes for the money to reflect on your bank account. For countries that support Local Bank Transfer, the funds are transferred directly from a local bank in your country to your local bank account and in less than 5 hours you should be able to see the funds on your bank account. The Payoneer fees for transfer usually varies according to the country you are living in and the only way to find out is by contacting Payoneer for the exact rates.
How do we Withdraw Money from Payoneer
We shall look at how to withdraw money directly to your local bank account or through any MasterCard supported ATM machine using your Payoneer Prepaid Debit MasterCard.
1 – Withdraw Money to Local Bank
Before you withdraw money from Payoneer to your local bank you have to first submit your bank account for approval. After getting approved, Payoneer automatically detects the best payment method they can use to transfer money to your local bank account. If your country supports local bank transfer then Payoneer will opt for Local Bank Transfer or else an international wire transfer is made to transfer funds to your local bank account. You can see the list of countries that support Local Bank Transfers here. The list is always updated implicating you have to keep checking for any additions especially if your country was missing on it.
Follow the steps below to withdraw money to your local bank account.
- Open the Payoneer login screen and login to your Payoneer account
- On the menu, go to Withdraw then click on ‘To Bank Account’.
- If it’s the first time you are withdrawing funds from your Payoneer account you have to click on Add Bank Account and enter all the required bank details while following the onscreen instructions. Try to enter accurate details because your bank account has to first be approved before any withdraw request is processed.
- In case you already have an approved bank account, select the account you are transferring funds to
- Fill in the details of the transfer and click on Continue
- Lastly, fill in the security confirmation page and submit your withdrawal request
If the bank details you entered are correct then you should be able to receive your funds in 2 – 5 days depending on your location. Wire transfers to certain countries might take slightly longer than that. That wraps up Payoneer transfer to bank account.
2 – Withdraw money from a local ATM
You should be having a Payoneer MasterCard to withdraw money from Payoneer through local MasterCard supported ATM machines. If you don’t have your MasterCard Payoneer withdrawals from local ATM machines will probably not work for you. If you have your Payoneer Card then all you have to do is visit a local ATM machine that supports MasterCard and withdraw your money. You will be paid in your local currency. Click Here to find a local MasterCard ATM machine near you.
That wraps up how to withdraw money from Payoneer. Easy and simple if you follow the right procedures. I hope this guide helps you. If you are finding any difficulty feel free to drop me a comment below and i’l be glad to help you otherwise, you might want to learn the Simplest ways to Add funds to Payoneer Card or perhaps learn How to earn Money with Payoneer referral system.