How to Withdraw Funds from Payoneer to Your Country Bank Account

 

Withdraw Funds from Payoneer to Your Personal Bank Account 

Payoneer is a company that has been a blessing to Nigerians and the world at large as far as receiving and making payments online is concerned.

Recently, I learnt that Payoneer supports direct withdrawal of Payoneer funds to local bank account. So if you work and get paid online through Payoneer, and finding it difficult to withdraw via PayPal or through Payoneer MasterCard at ATM machines, follow this step by step guide to learn how to withdraw your money straight to your local bank account.

It is a service payoneer calls "withdraw to bank" that enables all Payoneer account holders from selected countries to withdraw funds from their Payoneer Account directly to their personal bank account. So for you to use this service, you will be required to provide a bank account in your name or an account that is owned by you.

However, if you own the account but it is not in your name, you may be requested to provide a supporting account ownership documentation.

How to Add Your Bank Account to Payoneer

1. First, log in to your Payoneer Online Account or sign-up here to create one.

2. From the menu, go to "Withdraw" and then "To Bank Account".

3. Then, if this is the first time that you are withdrawing funds, click

"Add Bank Account" and follow the on-screen instructions to proceed.

How Can You Withdraw from Your Payoneer Accounts to Your Bank Account?

After adding your bank account to Payoneer using the above procedure, it will take a while for Payoneer to approve it. But once they do, you can then withdraw Payoneer funds to the bank account using the steps below.

1. As usual, log in to your Payoneer Online Account.

2. From the menu, click on "Withdraw" and then go to "To Bank Account".

3. Select the account to which you want to transfer the funds.

4. Fill in the details of the transfer and click on "Continue".

5. Fill in the Security Confirmation page and submit your withdrawal request.

What Are the Fees Associated With the Withdraw to Bank Service?

The last time I checked, there is no setup or recurring (monthly/annual) fee attached with the Withdraw to Bank Service offered by payoneer. However, the transfer fee may vary according to the selected country and currency in quote. To find out the relevant fees for your country and currency, please contact Payoneer on live chat.

NOTE: This service is currently not available to all payoneer account holder. And only available in select countries of which sadly, Nigeria was not included. See list of supported countries in payoneer withdraw to bank service.

Is the Payoneer withdrawal service available for your country? Don't worry my next edition will be on how to withdraw payoneer funds at a much more higher rate to what the banks and ATM machines offer you. Trust me you gone love the rates.

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