Payoneer is an online money transferring solution that has eased money transfers across different countries. General users and freelancers are widely using Payoneer to make electronic transactions to different eCommerce platforms and are getting paid on international forums like Upwork and Freelancer.
Understanding its due importance, we, at TechJuice, have come up with a detailed guide on Payoneer in Pakistan. Just follow along as we tell you why and how you can use this facility.
Payoneer is a New York-based financial services company providing an online money transfer facility over virtual accounts and you don’t have to physically go to a brick-and-mortar bank in order to get this account or in order to get any of the transactions done. With a user base of over three million users spread across 200 countries, the Payoneer Account now covers approximately the whole globe. The forum hence is taken as a viable alternative to Paypal, especially in countries where Paypal isn’t present yet.
- Working of Payoneer
When a user registers with Payoneer, s/he is provided with a virtual account that can be used to send/receive money across all the platforms that are supported by it. The Payoneer account can be used at ATMs, so the users can withdraw money from local ATMs easily. In Pakistan, Payoneer is known to work with ATMs of MCB, Standard Chartered, and Faysal Bank. You can check with your local banks and confirm if their ATMs support withdrawing money from Payoneer.
Payoneer also gives you the option to withdraw amounts directly to your bank account. Apart from transferring money to one’s own bank account, cross transfers between two Payoneer accounts can also be made which are totally free of costs.
Once the account is verified and registered with Payoneer, the users can receive their payments by selecting the Payoneer payment option on the international websites that support Payoneer. In case, the payments have to be made from individual clients (clients that are not associated with any Payoneer-linked website), a payment request has to be made by the to-be receiver. The payment request can be made from the Payoneer online account section and can be accessed via the “Request a Payment” option. Once the required details are filled in, Payoneer drops a link (with details on how to pay) in an email to the one making the payment. The receivers can also personally share the link with senders.
- Payoneer in Pakistan
As Paypal isn’t available in Pakistan, Payoneer works as its feasible replacement and is used by people looking to transfer funds across borders and from international companies stationed elsewhere. As Pakistan has one of the largest numbers of freelance service providers in the world, a vast majority of Payoneer users happen to be freelancers. Right now, Payoneer is offering cash receiving facilities from websites like Upwork, Freelancer, Fiverr, Elance, and Guru, etc. The Payoneer can also be used to buy things online.
- Sign Up and Order Payoneer in Pakistan
The Payoneer can be ordered at the ease of one’s home in Pakistan through Payoneer Sign Up. The users just need to go to the Payoneer’s website and register themselves there. Apart from filling in the particulars, the users are also asked a questionnaire in which the users have to mention their sources of income, etc. The users have to put their local bank account details along with some proof of identity while signing up. The scanned copies of government-issued documents like CNIC and driver’s licenses can be presented. You can create a Payoneer account by following these steps.
- In the first step, the basic details have to be filled up. Be sure to write the correct date of birth as it will later be verified with the copy of identification that you provide.
- After putting in the basic personal particulars, the user has to add their contact details. The address that is to be added in this step is the one where the Payoneer account details will be sent, so be sure to add the correct one.
- The next tab is of security related details. Plus, you will also be asked some identity details too in which you can choose to add either your NIC or the Driver’s License etc.
- Lastly, you will be asked about your banking details.
Depending upon where you are located, you will be shipped a Payoneer right during the registration process or by clicking on the “Order Now” option at the top right of your Payoneer account area. After registration, Payoneer will verify your details in about 1-2 days. The account details will then be dispatched which reaches the mentioned address within 10-20 days. Mostly it reaches within minimum of 10 working days.