Payoneer is one of the leading online Payment processor of 2014. Especially for countries where PayPal is not available, Payoneer is the best option to send and receive money online. You can also verify PayPal using Payoneer MasterCard.  Recently Payoneer launched an exciting new service that allows you to withdraw moeny from Payoneer to Local Bank account in your country. So, in this article we will learn How to Withdraw Payoneer funds to Local Bank Account.

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Since PayPal is not available in Pakistan so people now prefer to send and receive Payments via Payoneer. Previously we were only able to withdraw funds from Payoneer through Local ATM machines. Now you can also withdraw money from Payoneer to any local bank account in Pakistan or any other country.It can be Standard Chartered, Muslim Commercial Bank (MCB), Faysal Bank, Habib Bank (HBL) etc.

Payoneer Withdrawal to bank account services are available in more than 200 countries worldwide and support more than 50 currencies.  Pakistani residents can now withdraw Payoneer funds to local bank account in Pakistan.  Payoneer provides you competitive rates for bank withdrawal in local currencies. Click here to see list of all countries and currencies that support Payoneer local bank account withdrawal.

Note:
Payoneer lauched this service recently and this time it is only available for limited number of users. You can login to your Payoneer account and see whether withdrawal to Bank account option is activated for your account or not. If you don’t see this option then you should send an email to community@payoneer.com and Payoneer support team will be happy to assist you.

Payoneer Withdrawal to Local Bank Account

 

Yesterday I sent an email to Payoneer for the activation of this service and within 24 hours,  Payoneer withdraw to local bank option was activated for my account.

Payoneer Withdraw to Local Bank

 

Withdraw Payoneer Funds to Local Bank Account

First of all you will have to submit your local bank account details to Payoneer for review. Follow the steps mentioned below:

Submit Bank Account for Approval

  1. Login to your Payoneer account.
  2. From the withdrawal menu, click my local bank account.
  3. On the next page, Click Add bank account button.
  4. Confirm your account by entering Card number, Card CVV, Date of Birth and Password.
  5. On the next page, select your country and currency.
  6. Enter your Bank Name, Account Name, Account Number, Swift code.
  7. Checkmark the terms of service and click on the submit button.

Within 24- 48 hours, you will receive an email confirming successful linkage of local bank account with Payoneer.

Payoneer Bank Account Confirmed

Now follow the below steps to initiate your first bank withdrawal.

Withdraw to Local Bank Account

  1. Login to your Payoneer Account.
  2. From the withdrawal menu, click my local bank account.
  3. Select your bank account to which you want to withdraw funds.
  4. Enter amount to withdraw, withdrawal description and select Fee selection preference.
  5. Click on continue button.
  6. Confirm your withdrawal.

Within 1-3 days funds will appear in your Local Bank account.

Important Points to be Noted:

  • There are no monthly or annually charges associated with this service.
  • Currency exchange fees are associated with each transaction that depend on your currency and country.
  • You will have to withdraw minimum $500 from Payoneer to Local Bank Account.
  • Maximum single transaction withdrawal amount is $9500.
  • You can link maximum 3 bank accounts with Payoneer.
  • Each bank account added to Payoneer should have different currency.

Signup for Payoneer

 

If you have any question or query then feel free to ask below in comments.

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