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Payoneer is a service that allows you to receive and send payments online, especially if you are a freelancer or a digital business owner in Pakistan. Here is a complete guide on how to create and use a Payoneer account in Pakistan:
To create a Payoneer account, you need to visit the Payoneer website and click on Register. You will be asked to choose the type of account you want, either individual or business, and how you want to use the account, either to get paid by clients or to pay suppliers. You will also need to provide your personal information, such as your name, address, email, phone number, and ID card or passport number. You will also need to provide your bank account details, such as your IBAN number and bank name. You can use any bank in Pakistan that supports international transactions, such as HBL, MCB, Standard Chartered, or Faysal Bank. After submitting your application, you will receive an email from Payoneer to confirm your account and activate it.
To use your Payoneer account, you can either receive payments from clients or customers abroad, or send payments to suppliers or vendors abroad. To receive payments, you can use one of the following methods:
Request a payment: You can send a payment request to your client or customer via email, and they can pay you using their credit card, debit card, or bank account. You can also create and send invoices with Payoneer.
Global Payment Service: You can get local bank account details in different currencies, such as USD, EUR, GBP, and JPY, and use them to receive payments from platforms or marketplaces that support Payoneer, such as Upwork, Fiverr, Amazon, or Airbnb.
Billing Service: You can create and send invoices with Payoneer and accept payments from other Payoneer users or from credit cards or eChecks.
To send payments, you can use one of the following methods:
Make a payment: You can pay another Payoneer user or a bank account using your Payoneer balance or a credit card. You can also pay your suppliers or vendors on platforms or marketplaces that support Payoneer, such as Alibaba or Wish.
Payoneer Card: You can order a Payoneer Mastercard that you can use to make online or offline purchases or withdraw cash from ATMs that support Mastercard. You can also link your Payoneer card to PayPal or other e-wallets.
To withdraw money from your Payoneer account, you can either transfer it to your local bank account or use your Payoneer card. The withdrawal time and fees may vary depending on the method and currency you choose. You can check the current rates and limits on the Payoneer website.
Payoneer is a convenient and secure way to manage your online payments in Pakistan, but it also has some fees and charges that you should be aware of. Some of these are:
Annual fee: Payoneer charges an annual fee of $29.95 for maintaining your account and card.
Currency conversion fee: Payoneer charges a fee of up to 2% above the mid-market rate for converting currencies in your account or card..
ATM withdrawal fee: Payoneer charges a fee of $3.15 for withdrawing cash from ATMs using your card.
Card replacement fee: Payoneer charges a fee of $12.95 for replacing your lost or damaged card.
