Earning Money Online seems very lucrative option, thousands of people are earning their livelihood by providing online services or selling their products on the web. This is indeed profitable as compared with a 9 to 5 job. Earning Online is usually considered as a business, where your target market is whole world, your business remains open 24/7 and you can interact with international audience and provide them your services / products. All this process involves rotation of money from one hand to another and that’s only possible with some sort of reliable intermediary service which we term as payment gateway. PayPal
is being widely used as an online payment processor that helps to send and receive money with few simple mouse clicks. You only need to have a valid email address to get started with Paypal. Payments can be sent and received on registered Paypal email accounts. Paypal works globally in most of the countries where internet access is present.
Some countries are not supported by Paypal, as the country names aren’t present in Paypal’s signup application form. This does not mean that you cannot use Paypal from those unsupported countries. I have written a complete guide on How to Create Verified Paypal Account in Unsupported Countries
. And it works like a charm. Freelancers and Bloggers Make Money Online
with variety of ways and receive their hard earned income mostly with Paypal. If you are lucky enough to be that part of those countries where Paypal supports bank withdrawal, there won’t be any problem for you. Perhaps this is a challenging situation for freelance workers that live in a non-supported Paypal country and can only receive the payments but cannot withdraw them as their local banks are not supported for funds transfer. I am writing this guide for those who are facing challenges while withdrawing money from Paypal.
Paypal to Payoneer Funds / Money Transfer Guide
1. Signup for Payoneer MasterCard
(During Signup Make Sure to use the same name as you will use for your Paypal account. It might take a month for your Payoneer MasterCard to get delivered to your home. You will earn $25 bonus for signing up from the above link
, once your card has been loaded with $100 or more.)
2. Create Paypal Account
(Use United States as your country name during signup & your name must be same as of your Payoneer account name.)
3. Verify and Link your Paypal account with Payoneer MasterCard. (You must have funds / money in your Payoneer MasterCard, $10 should be sufficient to have in your Payoneer account, that money will be used by Paypal to verify your Paypal account with Payoneer. Paypal only deducts small amounts from your Payoneer Prepaid Debit MasterCard, which will be refunded back to your account once it has been verified.)
4. Apply for US Payment Service in your Payoneer Account.
On approval of US Payment Service, Payoneer will provide you with the details of your US Bank Account:
Bank Name: Bank of America
Account Holder’s Name (that’s your name)
Bank Routing Number: 9 Digit Routing Number
Account Number: 17 Digit Bank Account Number
Account Type: Checking
Verification of Paypal Account with US Payment Service
5. Click on Get Verified Button after logging into your Paypal account. Paypal will ask you to link your Bank Account, Select CHECKING as your account type & enter the Bank Routing Number as well as Bank Account number which you had received from Payoneer US Payment Service in Step number 3. Paypal will now deposit two little sums of money that will take 2 – 3 days to appear in your Payoneer’s Transaction History (Statement). For instance the sums of money could be $0.24 & $0.76. Since these amounts are randomly generated for every user. You will have to find out these two amounts under the Transactions history of your Payoneer account. You can enter the amounts in any order, since the order of entering amounts doesn’t matter. After entering those amounts please hit submit button. Congratulations, now your Paypal account has been verified and you can easily withdraw your money from Paypal to Payoneer Debit MasterCard via US Payment Service.
6. Now You can easily receive & withdraw payments on your Paypal account even in a non-supported Paypal country. Log into your verified Paypal account & Navigate to Withdraw > Transfer to Bank Account.
Enter the amount you need to withdraw from Paypal to your Bank Account (Payoneer US Payment Service) and click continue. It will take around 3 – 4 business days for your transaction to complete its process. Upon successful transfer of money from Paypal to Bank (Payoneer US Payment Service) it is subject to 1% fee. Later on you can withdraw your funds from Payoneer MasterCard from any supported ATM across the globe. I hope this article will help my readers to easily transfer their hard earned online income from Paypal to their Payoneer MasterCard.
You can also use your Payoneer MasterCard to Withdraw Money from Amazon & InfoLinks.
Note: Its a friendly and valuable advice to my readers, not to keep funds in your Paypal account that has been created this way for long time period. Always make sure to transfer funds into Payoneer MasterCard as soon as possible. As Paypal is not officially supported in some countries, this method works 100%, but we should always take care of such little but useful things that will help you to prevent any financial loss in future.
Payoneer Fee Structure:
US Payment Service Fee: 1% per transaction (For instance you need to withdraw $1000 from Paypal to Payoneer using US Payment Service, you will receive $990 in your Payoneer MasterCard, as $10 is 1% fee charged on $1000 withdrawal)
ATM Transaction Fee: 2.5 USD per transaction (If you will make more than three transactions in any month, subsequent transaction fee would be $1 per transaction)
Maintenance Fee: $3.0 per month (In order to avoid this fee, make sure to withdraw funds as soon as you receive them, if you want to keep money in your Payoneer MasterCard, it will be charged $3.0 on monthly basis.)
Update: December 9, 2014: This method used to work fine in the past but unfortunately PayPal will not be accepting Payoneer’s US Payment Service’s Bank Account Details To Transfer Funds / Money from PayPal To Payoneer MasterCard. Therefore this method will be not be valid to withdraw and move your money from PayPal to Payoneer MasterCard.