In today’s modern world, doing the transaction is getting easier. In the old days, we relied so much on direct contact, either when making a purchase or when selling. We had to hand in the cash or the credit card directly to the person intended so the deal could go on well. Nowadays, selling and buying isn’t limited by geographical boundaries anymore. People from all around the world can buy and sell stuff without even meeting face to face, thanks to the global payment service like PayPal
You may be familiar with PayPal since it can be used to transfer money or pay for products or services. Simply set up an account and you are good to go! Besides PayPal, there are also other names in the industry, like Payoneer. Payoneer is easy to use and it can also be used to gather up money from PayPal, ClickBank, MoneyBookers, Amazon, Elance, oDesk, and many other services. Simply use the prepaid Mastercard if you want to withdraw your money from the local ATM. Or if you want easier and more flexible set up, simply use the money in your account to buy goods or services.
If you want to withdraw money from PayPal to Payoneer, you have to link the virtual account of your American bank with your PayPal first. The account will be provided by the US Payment Service. However, there are also other ways to try as you can get the virtual account through Payoneer and then link it with your PayPal account. This is easier and quicker to do – in case you don’t have much time finding more information about the whole deal.
Sign up for Payoneer Account
- Get yourself a Payoneer’s Mastercard first.
- Fill in the required information correctly.
- On the form, you will see the option for “Signup for the US Payment Service”. Make sure to check the box.
- After submitting the form, you will get an email from Payoneer – namely the Account Approval Department. You will be asked to upload some document scan that prove your identity. The scan should provide information such as your complete name, date of birth, permanent address, and such things alike.
- Just follow the provided link and upload the required scan. You can use your driving license, NIC, or other documents issued by the government.
- You need to wait while Payoneer verify your identity.
- After the verification process is done, you will be given the virtual bank account number through email – along with the routing number and other important details. At the same time, your card will be delivered to the address that you have provided before.
Linking Payoneer US Payment Service to PayPal
- Login to your Payoneer account.
- Under Receive Money menu, click US Payment Service.
- Open a new tab in your browser and login to your PayPal account. Under Profile menu, click “Add/Edit Bank Account”
- Copy paste the Bank Name, Routing Number, and Account Number according to your Payoneer US Payment Service detail. Make sure you choose “Checking” for Account Type and type First Century Bank for Bank Name.
- Within the following 3 or 4 days, PayPal will transfer a small amount of money a for a verification process. You should be able to see the detail in your Payoneer account under Account Information menu and click View Transactions.
- You need to go back to your PayPal account again, under Profile menu, click Add/Edit Bank Account, and click “Confirm Bank Account”. Put the small amount of money that you have received from your Payoneer account.
- The bank account will be soon verified and you can immediately send out money to your Payoneer account from PayPal.