What is a Payoneer?
Payoneer is an innovative cross-border payment platform that connects businesses and professionals across countries and currencies
How To Use Payoneer In South Africa
1: Log in to your Payoneer Account.
You will be taken to the main interface. In this instance, go to the “Withdraw” option near the top left of the screen. When you click on Withdraw, you will get a dropdown and from here you can click “To Bank Account”.
2: Choose Bank Account To Withdraw To
If you have not yet entered a bank account, you will be shown a screen that gives you the option to add a new bank account. Click Add New and follow the instructions to set up your bank account.
If you have an account, you can proceed to choose the details of your withdrawal by selecting the currency that you want to draw from.
3: Choose Amount To Withdraw
After choosing the account, select the account that you want to send the money to, and the amount that you want to send. There are minimum and maximum amounts that you can draw in a transaction.
For me, since I use a dollar account, the minimum is $50 and the maximum is $10,000. There is a field for account description but this is not a must and you can proceed without adding a description.
4: Complete The Withdrawal
After inputting the transaction details, you can press review to get the full particulars of the transaction. This includes the amounts, the bank account, as well as the transaction fee that you will be charged for the withdrawal.
If you need to change anything you can click edit and change the required details. If everything is correct, confirm the details by clicking to check the box above the withdraw button, then click withdraw to have the money sent to your account.
You will see receive a confirmation of your withdrawal request. You will also receive an email to confirm this. Whoohoo! Your money is now on the way. It will take 3-5 days for the transaction to clear and for the money to reach your account.
Does South Africa use Payoneer?
One of the leading financial institutions that offer this ease of money transfer is Payoneer. This is a multi-million dollar company that ensures that South African customers have secured business transactions. Payoneer is a global online financial institution.
Can I withdraw money from Payoneer in South Africa?
We support withdrawals to local bank accounts in over 150 countries and currencies. Say goodbye to costly international wire transfers and hello to global business opportunities.
Payoneer allows you to transfer your international business earnings directly to your local bank account. It’s really that easy.
How long does it take for Payoneer to verify my bank account?
Please ensure that this information is accurate, as incorrect information can delay Payoneer’s approval of the bank account.
Once you submit the details, we’ll review them. It usually takes up to 3 business days. Watch your email for confirmation that the bank account has been approved.