Since the inception of so many companies and large businesses across the globe, methods of payments across boarder has been a desideratum. And the commonest methods of payment are PayPal and Payoneer.
PayPal came first and was believed to have solved the issue of payment methods but the question is – what of those countries where PayPal isn’t based? How would they transact money? Aren’t we gonna employ Payoneer now? Some people are still in the dark to the fact that PayPal does not exist in some countries – an example is Pakistan. PayPal is not based in Pakistan; As a result of this, it’s necessary for Pakistanis to know how to create a Payoneer account in their country.
What’s Payoneer?
Briefly, Payoneer is an online platform that helps in transacting money/payments across the globe. It’s based in New York and has many branches in all other countries.
Payoneer was known and used mostly when PayPal was discovered to be absent in some countries. For more details about Payoneer, read our Payoneer review.
How to create a Payoneer account in Pakistan
Follow along with the following guidelines on how to successfully create a Payoneer account as a Pakistani:
- Visit the Payoneer website here
- You’ll get a signup “register” box after the website has loaded. Click it
- Then, select the kind of work you do – you might be a freelancer, an online marketer or an individual.
- After that, input your information like your name, ID Card, date of birth, email address, etc.
- your bank IBAN number and follow the other prompts.
Registration of a Payoneer account in Pakistan
After you’ve registered or signed up for a Payoneer account either as an individual or organization, you’re then able to send and receive payments. You’ll be given a virtual bank account and your Payoneer MasterCard. The MasterCard takes up to two weeks before delivery.
To register, these are the following requirements of Pakistanis Payoneer:
To have a Payoneer account in Pakistan:
- You must be 18 years or above.
- You must have your own bank account
- You must have a valid home address
- NIN, Driver’s license or Passport.
Payoneer Card Charges in Pakistan
Once you’re registered as a Pakistani Payoneer user, and you want to order your Payoneer card. It’s free to order but not free to collect the card – it’s a $29.95 annual payment.
Now you have your card and you want to use the Payoneer ATM Card to withdraw, $3 would be removed from your balance for every withdrawal you make. And if you had wanted to make a transaction but later canceled it – $1 would be removed from your balance.
Read also: Payoneer Vs PayPal For Freelancers
Payoneer Charges in Pakistan
When you want to withdraw funds from your Payoneer account, 3% of the amount you withdraw would be the charges. Let’s assume you withdrew $200 – your Payoneer account would be debited by $200 + 3% of $200 = $200+ $6 = $206.
This hasn’t been easy for old-time Pakistanis since they had no other Payment method. Long ago, Pakistanis had a problem with Payoneer because there was a daily limit – the amount they could transfer or receive in a day. But now, Pakistani Payoneer users can add their local bank details to their Payoneer account for withdrawals so it would be easy and quick.
You might decide to withdraw through your account or through your MasterCard. But where and how can you receive the MasterCard attached to your account?
How to receive a Payoneer MasterCard in Pakistan
When you order the card, at most two weeks it would get to you through your home address. But how do you order the card?
First Method
- Log in to your account
- Go to Settings
- Select “Card Management Tab”
- You’ll see “order card” as one of the options, click it.
- Carefully read the following instructions thereafter
Second Method (Shortcut)
Tap the “order card” at the top of your screen and follow the instructions thereafter.
How can you activate your Payoneer card as a Pakistani?
Choose the account you want to activate – that’s if you have registered multiple accounts on your Payoneer account but if you have a single account, it would be selected without you having to choose it.
Click the “To view your status and activate the account” box. Make sure your card is safe – you would have to input the 16 digits on the MasterCard and also create a strong pin. After you’re done with all these, your account has been activated.
Banks that support Payoneer in Pakistan
Though Pakistan has a lot of banks both national and international, not all the banks support Payoneer. Below is the list of those countries that supports Payoneer across the globe:
- Citi Bank
- Faysal Bank
- HBL – Habib Bank Limited
- Samba Bank
- Standard Chartered Bank
- MCB – Muslim Commercial Bank
- Bank Alfalah
Through these banks, anyone can withdraw money either through ATM or through the Payoneer account itself.
Before the article ends, I would like to brief Pakistanis on how they can load money from their Payoneer MasterCards.
First, log in to your Payoneer account. Under the activity menu, tap “transactions”
You’ll see the “load your payment” option.
After you’ve done these, wait for a few minutes to see the money reflect.
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Conclusion
I hope you find this article useful. Let’s know if you have any questions about creating a Payoneer account in Pakistan.
Idris Yau is an entrepreneur and a seasoned finance and marketing content writer. He brings you unbiased reviews about products and answers to your finance questions.