It is official: Paypal to Payoneer withdrawal is here

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Posted by on Friday May 3, 2013 at 11:18:45:

I had written about the Paypal to Payoneer withdrawal option in the past and it has generated a lot of comments and questions already. Actually at that time, I didn't know much about the working details other since I wasn' directly using it. The only thing I knew then was that it was a US issued Mastercard that is globally accepted and useful in receiving payments and making withdrawals on local ATMs where mastercard is acceptable at a fee of about $2 per transaction.

About 2 months ago though, I received a Payoneer mastercard at my home and have not really bothered about activating or using it since I wasn't making money from freelancing but mostly from Google and Paypal.

Back then, what I knew was that Payoneer was just rolling out US payment service to long standing clients meaning that not everybody was able to get it. Lately however, it seems that it is becoming more available to everyone, even in Africa and Kenya and you can apply for it an link it to your Paypal account.

Forget about the old days of not being able to withdraw from Paypal in Kenya even though you have a verified account. Personally, I 've already being used to using Paypal for shopping on Ebay and for paying for online services but if I could also withdraw from it, then it's a swell plan.

How does Paypal allow Kenyan users to make withdrawals?
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Currently, we know that Paypal works in Kenya but only allows users to be able to make withdrawals by making use of US banks. This means that the Payoneer mastercard US payment option works as this allows you to link a bank account that would be given to you. With those details, you will be able to withdraw to the virtual bank account and then to your local ATM via Payoneer's help

How Payoneer US payment service works
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When you get a Payonner account, you can go to US Payment page under Services and you will see the US bank details such as bank name, bank account number and the routing number. You can view your US bank details when logged into your online Payoneer account and that's just what you need to include in your Paypal account to make withdrawals.

Payoneer's US payment service has arrived in Kenya and if you've got some money in your Paypal account, now it's time to withdraw from it . It doesn't really matter if you may have to part with some fees such as one time activation fee,

You will need to apply for a Payoneer Mastercard first from their website and get the card mailed to you. After receiving it, you will then activate it before being able to make use of any of its services

How to activate your Payoneer Mastercard
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- Go to payoneer.com and your account
- Log in with username and password with which you applied
- You'll be able to view your balance
- Click on activate
- Enter the last 4 digits of card, new 4 digit PIN and any other security feature
- Your card would be activated and you can start using it to receive payments

Do you still need a Kenyan bank account for Paypal?
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With a Payoneer card, since your address is still in Kenya, you don't necessarily need to get another card from your bank in order to open a verified Paypal account as you can make use of the one from Payoneer. Most Kenyan cards don't allow you to make withdrawals so why carry two cards just for Paypal?

So, for those yet to link a card to their Paypal account,s they can very well go straight for a Payoneer mastercard.

Things you can do with a Payoneer Mastercard
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- Receive money online
- Withdraw from Paypal to US bank account
- Withdraw from local ATMs

Fees associated with using Payoneer mastercard
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So how much does it really cost to use a Payoneer card for Paypal and is it really worth it? If you ask me, I'll say it is worth is and here are the costs:

- Transaction fee of 1% for all US payments received
- ATM withdrawal $3.15
- Declined ATM withdrawal $1
- ATM balance enquiry $1
- Annual maintenance costs $29.95
- Card replacement costs $12.95
- Purchases are free

You can always check for the current fees when you log into your online Payoneer account.

Note: You would need to have some funds first in your Payoneer mastercard account before being able to use it for Paypal.

I've not yet linked my card to Paypal yet and when I do so, I will write more about it.

The good news however is that making use of a Payoneer cars is probably the best way to make Paypal withdrawals in Kenya.




Comments:
    Re: It is official: Paypal to Payoneer withdrawal is here Reply by judy on Saturday May 4, 2013 at 7:49:15:

    Thank you so much for this information. I was just thinking of applying for a mastercard in the near future. I was given the details by a friend but i somehow just sat back since am not really in a hurry. I have to bookmark this page.



    Re: It is official: Paypal to Payoneer withdrawal is here Reply by Ezekiel on Saturday May 4, 2013 at 9:10:19:

    Thanks so much for this information. I will now take this advice, for it has always been difficult for me to transact money online.



    Re: It is official: Paypal to Payoneer withdrawal is here Reply by david on Thursday May 16, 2013 at 19:22:2:

    how long did it take for your payoneer master card to be shipped




    Re: It is official: Paypal to Payoneer withdrawal is here Reply by Jackson on Monday May 20, 2013 at 13:52:44:

    At which ATMs can you withdraw your payoneer balance in kenya?



    Re: It is official: Paypal to Payoneer withdrawal is here Reply by Felix Okoli on Monday May 20, 2013 at 13:52:44:

    I believe any ATM that carries a Mastercard logo on it