What is Payoneer?
Payoneer is a financial services company that allows businesses and professionals to send and receive money globally. It’s particularly useful for freelancers, online sellers, and service providers who work with clients abroad. With Payoneer, you can receive payments in multiple currencies and withdraw them conveniently in Pakistan.
Benefits of Using Payoneer
Global Payments: Receive payments from international clients with ease.
Multi-Currency Accounts: Hold and manage funds in different currencies.
Bank Withdrawals: Easily withdraw funds to your local bank account in PKR.
Prepaid Mastercard: Access your funds instantly through the Payoneer card.
Step-by-Step Guide to Open a Payoneer Account in Pakistan
Step 1: Visit the Payoneer Website
Go to the official Payoneer website.
Click on the “Sign Up” button to begin the registration process.
Step 2: Choose the Right Account Type
Payoneer offers different account types based on your needs. If you’re a freelancer or business owner, select the “Freelancer” or “Business” account type.
Step 3: Fill Out the Application Form
Personal Information: Provide your name, email address, and date of birth.
Contact Information: Enter your phone number and residential address.
Business Information: If applicable, fill out your business details, including the type of services you offer.
Step 4: Verify Your Identity
Payoneer requires identity verification to comply with regulations. You’ll need to submit:
A government-issued ID (e.g., CNIC or passport).
A proof of address document (e.g., utility bill or bank statement).
Step 5: Set Up Payment Methods
Once your application is approved, you can set up how you want to receive payments. You can link your Payoneer account to various marketplaces (like Upwork, Fiverr, or Amazon) or choose to receive payments directly from clients via Payoneer’s request feature.
Step 6: Request Your Payoneer Mastercard
After setting up your account, you can request a Payoneer prepaid Mastercard. This card allows you to access your funds at ATMs or make purchases online and in stores.
Step 7: Withdraw Funds to Your Local Bank
To withdraw your funds in PKR, link your local bank account to your Payoneer account. You can then transfer funds from Payoneer to your bank account. Keep in mind that transfer times may vary.
Tips for Using Payoneer in Pakistan
Stay Updated: Keep track of any updates or changes in Payoneer policies to ensure smooth transactions.
Use Two-Factor Authentication: Enable two-factor authentication for enhanced security on your account.
Familiarize Yourself with Fees: Be aware of any fees associated with withdrawals, currency conversions, and using the prepaid Mastercard.
Conclusion
Opening a Payoneer account in Pakistan is a straightforward process that opens the door to global business opportunities. Whether you’re a freelancer or a business owner, Payoneer provides a secure and efficient way to manage international payments. By following the steps outlined in this guide, you can easily set up your account and start receiving payments from clients around the world.