April 3, 2020
  • Friday, April 3, 2020

Are you aware that you can easily withdraw money from Payoneer to your local bank account now? Payoneer recently introduced a “Withdraw to Bank” service which allows a Payoneer account holder to withdraw or transfer funds from their Payoneer Account directly to their personal bank account.

This service is available to any Payoneer account holder, as long as you can provide an active bank account in your name or any bank account that you own. if the bank account you provided is not in your name, you may be required to provide additional documentation to show account ownership.

However, before you can be eligible to use the Payoneer withdraw to bank service, you need to add a local bank account to your Payoneer account first.

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How To  Add My Bank Account To Payoneer

Adding your bank account to Payoneer is as simple as ABC, and the process can be completed in three simple steps. Let’s check them out below;

  1. Log in to your Payoneer Online Account.
  2. From the menu, go to “Withdraw” and then “To Bank Account”.
  3. If this is the first time that you are withdrawing funds, click “Add Bank Account” and follow the instructions as directed. Although it might take several days for your account to be approved by Payoneer before you can be eligible to use the “Withdraw To Bank Service“.

How To Withdraw From Payoneer To Bank Account

Once your bank account has been approved by Payoneer, withdrawing funds to it becomes easy. The process is easy, and I’ve explained it with detailed screenshots below;

how to withdraw from payoneer to bank account

  1. Log in to your Payoneer Online Account.
  2. From the menu, go to “Withdraw” and then “To Bank Account”.
  3. Select the account to which you are transferring the funds.

payoneer withdraw to bank service

4. Fill in the details of the transfer and click “Continue”.

how to withdraw from payoneer to local bank account

5. Fill in the Security Confirmation page and submit your withdrawal request then wait for confirmation.

Other Ways To Use Payoneer

Payoneer has been a lifesaver to many freelance and online entrepreneurs. With Payoneer, earning online and receiving payments from clients abroad is relatively easy, and it saves you the stress of having to use alternative payment options like Western Union, MoneyGram Or PayPal.  If you have a USA, UK, JAPAN, AUSTRALIAN, CHINESE or CANADIAN Paypal account, you can also use Payoneer to verify it and transfer funds directly from your Payoneer and into your local bank account if you choose to.

I wrote an article on how to verify PayPal with Payoneer some months back. The steps discussed in that article works for any of the above-mentioned PayPal accounts, and if your PayPal account happens to be from any of those countries, you can easily verify it by following the steps listed there, and if you don’t have a Paypal account yet, you can check out my tutorial on how to create a PayPal account that sends and receive here in NIGERIA.

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CONCLUSION

Payoneer does not charge any activation or recurring subscription (monthly/annual) fees for the “Withdraw To Bank Service“, although your final institution usually charges 2% of the amount being transferred, which is the Payoneer withdraw to bank account fees.

You should also have it mind that the minimum amount to withdraw from Payoneer to bank account is $50. You need to have at least $50 before your withdrawal request can be processed. To learn more about the relevant fees for your country and currency, kindly contact Payoneer.

payoneer withdraw to bank account fees

There are other ways through which you can withdraw funds from your Payoneer account aside from using the “Withdraw To Bank” service. One of them is by ATM Withdrawal or through currency exchangers. Do you know of any other method apart from the ones mentioned in this article? Kindly let us know via the comment section.

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Martin G

Web Developer, Affiliate Marketer, Freelancer, Blogger & Your All In One "INTERNET ENTREPRENEUR"

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