Payoneer facilitates international money transfers by allowing users to transfer money online. Several e-commerce platforms and international forums, including Upwork and Freelancer, accept Payoneer payments for electronic transactions and freelancers get paid.
As Payoneer is of the utmost importance, we, at PakBaazes, have compiled a detailed guide on Payoneer in Pakistan. Follow us as we explain why and how this facility can benefit you.
Then what exactly is Payoneer?
Payoneer is a New York-based financial services company that provides an online money transfer service through virtual accounts. To open this account or to complete any transactions, you don’t need to go to a brick-and-mortar bank. A Payoneer Account now covers approximately the entire globe with over three million users in 200 countries. Hence, the forum is seen as a viable alternative to PayPal, especially in countries where there is no PayPal.
Payoneer also allows you to withdraw money directly from your bank account. Besides transfers to one’s own bank account, Payoneer also offers free cross-transfers between two accounts.
Using Payoneer’s payment option on international websites that support Payoneer makes it possible for users to receive their payments once their Payoneer account is verified and registered. When paying individual clients (clients not connected to any Payoneer-linked website), the recipient must submit a payment request. Payoneer accounts can be accessed via the “Request a Payment” option under the “Online Account” section. Payoneer drops a link (with information on how to pay) in an email once the payment details have been filled in. Also, the receiver can send the link to the sender personally.
What is the process of using Payoneer?
Users who register with Payoneer receive a virtual account that can be used to send/receive funds across all platforms that the company supports. Payoneer accounts can be used at ATMs, so users can withdraw cash easily. Payoneer works with ATMs operated by MCB, Standard Chartered, and Faysal Bank in Pakistan. You can ask your local bank whether Payoneer ATMs accept withdrawals from your account.
Payoneer also offers the option of withdrawing money directly to your bank account. You can also make free cross-transfers between two Payoneer accounts in addition to transferring money to your own bank account.
Once the Payoneer account has been verified and registered, users can begin receiving their payments on international websites that support Payoneer by selecting the Payoneer payment option. A payment request must be submitted by the to-be recipient if payments are to be made from individual clients (clients who are not connected to a Payoneer-linked website). The request for payment can be made via the “Request a Payment” option in the Payoneer online account section. Payments are made by email after Payoneer drops a link (with instructions on how to pay) to the person making the payment. It is also possible for the receivers to share the link with the senders personally.
Payoneer In Pakistan
In Pakistan, Paypal isn’t available, so Payoneer offers a feasible alternative and is used by people who need to transfer funds internationally or by international companies based abroad. The majority of Payoneer users are freelancers due to Pakistan’s large number of freelance service providers. Right now, Payoneer is offering a cash-receiving facility from websites like Upwork, Freelancer, Fiverr, Elance, Guru, Amazon, etc. It is also possible to buy things online with Payoneer.
What are the steps for signing up for a Payoneer account Payoneer in Pakistan?
The Payoneer can be ordered from the comfort of one’s home in Pakistan, using the Payoneer Sign Up service. To register, users need only visit the Payoneer website. In addition to filling out the particulars, the users are asked to answer a questionnaire about their income sources, etc. Sign-up requires users to provide details of their local bank account along with some proof of identification. It is possible to present scanned copies of government-issued documents such as CNICs and driver’s licenses. By following these steps, you can set up a Payoneer account.
It is the first step of the process to fill out the basic details. Please write the correct date of birth, as it will later be verified with your copy of identification.
The user must enter their contact information after entering their basic personal information. Make sure the address you add in this step is the one where you will receive your Payoneer account details.
Next, you will find details about security. Furthermore, you will also be asked to provide some identity details, such as your NIC or driver’s license.
The last step is to provide your banking information.
