How to withdraw Payoneer balance to the latest local bank
How to withdraw Payoneer balance to the latest local bank

How to withdraw Payoneer balance to the latest local bank

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How to withdraw Payoneer balance to a local bank – For those who already have a balance in your Payoneer account from the results of making money online, such as Amazon affiliates or independent services or from the results of a referral commission of $ 25 through a refer-a-friend program and from other sources – of course you want to cash it in rupees even You can use it for different purposes in Indonesia.

Before further discussion, for those who may have strayed in this article and do not know or have a Payoneer Card + Account, you can read the following article: How to Create a Full Payoneer Account

Practically speaking, it is very easy to do or withdraw Payoneer balances to local bank accounts in Indonesia. There are at least two ways that can be done, a withdrawal to a bank account, which is a withdrawal by transferring the balance directly to a local bank account. The second is simpler, that is, by withdrawing the balance / money directly from an ATM.

Yes, as we know Payoneer offers Payoneer Mastercard debit card features/facilities which act as an ATM card which can be used to withdraw balances at ATMs bearing the Mastercard logo all over the world.

Now in this article, I will share my experience on how to withdraw Payoneer balance to local bank account, which here I use BCA Bank. As for how to withdraw / withdraw Payoneer money from an ATM, I wrote in a separate article here.

How to withdraw Payoneer balance to a local bank (transfer)

How to withdraw Payoneer balance to a local bank

To withdraw / withdraw Payoneer funds to a local bank, the minimum transfer rule is set at $50 (Fifty US dollars). So if your payoneer balance is still less than $50, it cannot be withdrawn by transfer to a local bank.

It seems that withdrawing Payoneer balances/money to local bank account is the preferred option, the article has many advantages i.e. it does not require a lot of withdrawal fee/fee, dollar rate is also higher than if you make direct withdrawal from ATM.

But it also saves one weak point, which is in terms of time. Of course, the withdrawn balance cannot be immediately received/entered into our local bank account. But it takes a maximum of 4 working days. But don’t worry, because it can actually be faster, on average between a day or two.

requirements : Before making a Payoneer Balance Withdrawal/Withdrawal to a local bank, you must first register your local bank account in your Payoneer Account. And wait for the bank account to be verified, then you can make a withdrawal.

But if your account is a new Payoneer account where the registration process includes local bank account data, then surely your Payoneer account is already connected to the local bank account. So you can make withdrawals instantly with a minimum balance of $50.

So before making a withdrawal, your local bank account must be registered and approved by Payoneer.

Well, here is a full description of the steps.

1. Log in to your Payoneer account at myaccount.payoneer.com
2. Click Menu Withdraw> to a bank account
3. Then the form will appear as below.

  • From : Select the source of funds in the account, in this case select the xxxx-xxxx prepaid card
  • to me : Select the transfer destination bank (local bank). If you want to add another (new) bank account, you can press the button + Add newthen fill in the bank details.
  • Withdrawal Amount (in USD) : Fill in the nominal amount / amount you want to withdraw (in US dollars).
  • a description : Fill in anything as a description. No packing is also acceptable (Optional)
  • After that, click “Next”

4. Then the following form will appear as shown in the following picture. This is the security confirmation page. Fill in the appropriate data.

  • Payoneer card number : Fill in the 16-digit number and engraving on your Payoneer card (type without spaces)
  • CVV : Enter the three-digit number printed directly on the back of your Payoneer card. Its location is near the signature area.
  • date of Birth : Fill in the date of birth by ID
  • Payoneer account password : Enter the password according to the one used when logging into the Payoneer account.

Once filled, don’t forget to click on the sign [v] on me I hereby confirm that the above details are correct. Ensure that all data entered is correct.

5. After that, you will see a notification pop-up saying that your withdrawal request has been confirmed and it will be processed for approximately 3-5 working days.

In addition, my friend can also check email. Soon, Payoneer will send an email with detailed information on your Payoneer balance withdrawal request.

6. If you have passed the above stages, just wait. As I mentioned earlier, it doesn’t actually have to take 4 or 5 days for the balance to go to our local bank account.

For my particular case, it only took less than 24 hours for the money/balance to be deposited into my BCA account. With the emergence of the boom as follows.

Price per dollar: 1,446.447.66: 111 = Rs. 13.031.06

WD next trial reached $50 Converted into rupees to R. 651.896 (without discount)

From the results of calculating the incoming balance compared to the nominal (in US dollars) balance withdrawn, we can conclude that Payoneer withdrawals to local bank accounts are not subject to fees. Also, the dollar conversion rate is high.

So that the results we receive can be maximized, not cut out by a lot of fees as well as making ATM withdrawals. We can see brief details of the above withdrawal transaction as shown in the following image.

But of course the withdrawal cannot be instant if it is via an ATM. Because withdrawing directly to the bank account takes an average of 2 to 4 days. But it is still worth it, because sometimes, even within one working day, the balance in the account can settle.

See also other articles:

This is the explanation and share my experience about How to withdraw Payoneer balance to a local bank Via bank transfer. Pretty easy, isn’t it? Yes, it is easy, because what is not easy is to collect the balance €

Well, I hope this simple article was helpful. That’s it, thank you

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I am a person who likes to write and make information related to fruits, because I like and have a mango garden.