Wednesday, March 05, 2014

You can withdraw from Paypal Kenya with a Payoneer account

You can withdraw from Paypal Kenya with a Payoneer account

Most freelance websites and affiliate sites offer Kenyans the ability to own their own Payoneer card if and when their online earnings reaches the required payment limit.

A payoneer card is a US issued mastercard that is internationally accepted and can be used on ATMs globally. However you should know that ATM withdrawal fees with a payoneer card can be high so you should use it mostly for just making withdrawals for your monthly earnings.

I said you can withdraw from your Paypal account if you have a Payoneer card and virtual US bank account. Payoneer are now offering members the ability to have a sort of virtual US bank account and it works in such a way that you won't need to travel to the USA just to open a bank account and yet be able to withdraw funds to it from your Paypal account.

Paypal doesn't allow direct withdrawals to Kenyan banks
According to Paypal Kenya, you can send and receive money online using Paypal but for now you can't withdraw to a local bank in Kenya except to a US bank account and that has been a burden for many. However if you have a Payoneer US bank account, you can then withdraw frm Paypal and then be able to use your Payoneer mastercard to withdraw locally from Mastercard branded ATMs in the local currency in Kenya.

How to get a Virtual bank account from Payoneer
- You need to apply first after having a long standing relationship with the company
- If approved, you will be able to do online banking with your account and receive funds as if it were a real bank account
- Approval is not automatic so not everybody may be approved.

However, if you have been earning a good amount of money online with a Payoneer card, your chances of getting a US bank account through them are good.

Once the funds hav been withdrawn from Paypal to your Payoneer virtual bank account, you can then withdraw it with your Payoneer card at acceptable ATMs.

Sign UP now for a free Payoneer account and get $25


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