Payoneer allows you to withdraw your money from PayPal easily. If you are facing difficulties in withdrawing your PayPal money in your country, then Payoneer is a true gift for you from its developers which allows you to collect money from PayPal, MoneyBookers, ClickBank, oDesk, Elance, Amazon and several other services seamlessly. You can use Payoneer’s prepaid Mastercard to withdraw the money from local ATMs or can use it online for purchasing different services and goods.
To withdraw your PayPayl money to Payoneer, you need to first link your virtual American bank account with PayPal which is provided you by US Payment Service. If you don’t know what is US Payment Service and how to link US Payment Service’s provided account with PayPal, learn here how to get Payoneer Mastercard and US Payment Service.
If you don’t have enough time to go through above article and read the instructions in-depth, here is a quick guide on how to get a virtual American bank account via Payoneer and how to link it with PayPal.
- Go to Payoneer’s signup page and signup for Payoneer’s Master Card
- While signup, provide all necessary details accurately
- Check the box for “Signup for US Payment Service” option in signup form
- After signup form submission, you will receive an email from Payoneer’s Account Approval Department asking you to upload scans of your document proves which contain your complete name, permanent address and other details
- Follow the link and upload scans of either your NIC, driving license or any other government issued document
- After successful verification of your identity, you will be emailed a virtual US bank account number and routing number along with other details. At the meantime, your card is also shipped to the address provided (Remember that Payoneer doesn’t ship cards at temporary addresses, so provide your permanent address correctly including postal ZIP and street address)
- Now go to your PayPal account dashboard and hover mouse pointer over Profile option under My Account tab. Then select Update Bank Account option
- In next screen, click Add Bank Account option and then provide the bank account number and routing number which Payoneer has emailed you earlier
- PayPal will transfer a small verification amount in next two or three days. Once the transfer is completed, you will see the transaction details in your Payoneer account dashboard
- Now go back to PayPal, again go to Profile>Update Bank Account and click Confirm Bank Account option. Then put in the transacted amounts which you have received in your Payoneer account dashboard
- Your bank account will be verified and after that, you can transfer your money to your Payoneer account from Withdrawal option in your PayPal account dashboard. The withdrew money will be loaded to your Payoneer card and then you can either withdraw it from nearest supported ATMs in local currency or can use it for online purchases
So these are the simple steps through which you can withdraw your PayPal money to Payoneer account.
PayPal to Payoneer Transfer Fee
When you transfer your money from PayPal to Payoneer account, around 5% of the total transfer is deducted. The fee is charged by US Payment Service which carries out the transactions between PayPal and Payoneer. If you transfer $100 from PayPal to Payoneer account, you will receive around $94.
Ready to use Payoneer for withdrawing your PayPal money from local ATMs in your country?