Recently I withdrew funds from Payoneer to my Pakistani Soneri bank account and I decided to write this guide by assuming that someone might find this helpful. If you are willing to transfer your funds to your bank as well, then this post may answer many of your questions.
About My Transaction:
- The Bank I Used: Soneri Bank Limited
- Amount Transferred: $900
- Amount Received: Rs. 92,429.19
- Funds Received within 24 hours
So you can see above that I used my Soneri Bank account and transferred $900 USD from my Payoneer account. Funds received in my local bank account within 24 hours and I received Rs. 92,429.19 after transaction fee deduction. This shows that using the bank transfer option Payoneer isn’t a bad idea at all in terms of time required for the transaction to complete as well as the transfer fee is low as well.
How to Withdraw Your Funds:
To withdraw your funds, you will have to link your local bank account to your Payoneer account at first. This can be done by visiting the ‘Withdraw’ section in your Payoneer account. The best thing about Payoneer is that it has a predefined list of all Pakistani bank accounts (or your country’s banks if you don’t belong to Pakistan) and you can simply select your bank from the list. Once linked, it will take a few working days before Payoneer approves your bank account.
When your bank account is approved, you can visit the ‘Withdraw’ page and again and then you can withdraw your funds by providing necessary details.
Remember that you need the IBAN of your local bank account and if you don’t have this account number ready yet, then you should check your checkbook to find the IBAN or if it isn’t there, then you should contact your bank to get the IBAN.
I hope this guide helps you. If you have any question regarding this, then you can ask me in comments.