A Step by Step Guide For Payoneer Account
There are many factors in action, but the most important is the entry of foreign payment providers into the Pakistani market. Payoneer and other comparable companies are now readily available.
What is Payoneer?
Payoneer is an online payment method that enables people to create an account; if approved, it will create a digital bank account. If the customer has a Payoneer history, they would be able to receive transactions into the Payoneer account.
People could connect their local banks to Payoneer so they can withdraw money from Payoneer and deposit it into their local accounts. During the application procedure, you can also get a Payoneer bank card. However, this is now simply an optional step.
You must use a payment platform like Payoneer to get your revenues from freelancing sites like Fiver, Upwork, Freelancer, etc.
How to make a Payoneer account in Pakistan?
The process of creating a Payoneer account is simple and quick. Everything will be taken care of for you if you follow the instructions below.
Basic Requirements
Before continuing with account setup, you must first complete the criteria to be qualified to use the Payoneer payment system.
The following criteria must be fulfilled to create a Payoneer account.
Step-by-step procedure
A step-by-step guide to setting up a Payoneer account in Pakistan and getting your first payment quickly.
Applying for Payoneer Mastercard in Pakistan
Payoneer also offers a Mastercard option. The Mastercard would be accepted at ATMs, online businesses, and physical locations within Mastercard’s 210-country network. In Pakistan, the charge for a Payoneer card is $30, which is about 5k PKR.
You are eligible for the Mastercard if you have more than $30 in your account.
Follow the procedures below to receive the card.
Supported Banks for Payoneer in Pakistan
The following is a list of Pakistani banks where you may use your Payoneer MasterCard to make transactions. Please remember that you don’t have to open an account with all these banks to use their ATMs.
Remember that you should only withdraw cash if you have a massive amount of money because the Tax Bank will charge a service charge when you make withdrawals.
If you view your account balance at an ATM, you will be paid $1.00 off the total amount only to check it.
Transaction options in Payoneer
Payoneer allows you to make the following transactions:
Follow these procedures to make a payment with your account.
Payoneer charges in Pakistan
When you withdraw money from the Payoneer account in Pakistan, standard transaction fees of 3% and exchange rates fees are deducted. It’s costly, and it’s been a point of conflict in the previous when customers had no choice but to utilize certain ATMs for payment transactions.
Then there was the issue of some customers’ daily limits not being sufficient. On the other hand, Payoneer customers may now enter their Pakistani local bank account information and request a transaction. It is less expensive and eliminates a lot of headaches.
Last Words
In this post, we covered all about Payoneer generally and its activities in Pakistan.
To optimize the savings, it is advised that you use your Payoneer account connected with JazzCash. It offers real-time transactions, a low withdrawal limit, and the ability to manage it all from your smartphone. It could also be used to make online purchases at places like Walmart, eBay, and others.