How to Transfer Funds from PayPal to Payoneer
Hi every one, “How to Transfer Funds from PayPal to Payoneer” is a part of PayPal Guide by TechLeaks. In last couple of months, I have written a lot of tutorials on PayPal and Payoneer. But then I stopped posting about these because I think the needed information was already enough and well explained. But still I am getting huge emails and inboxes asking me How to Transfer Funds from PayPal to Payoneer MasterCard. So I felt the need to write another tutorial explaining How to Witdraw Funds from PayPal to Payoneer.
Although this procedure is quite simple but can be tricky for some newbie users. I have seen there are many new Payoneer master card holders who are facing difficulty in transferring their money from PayPal to Payoneer.
I am writing this post to help newbie users who want to transfer money from PayPal to Payoneer. I will try my best to elaborate each step of the transfer process, and after reading this post, you will be 100% sure on how to withdraw money from PayPal to Payoneer Master Card.
I am assuming that you have already signed up for the Payoneer MasterCard. After you have received your Payoneer MasterCard, a Virtual Bank account is created by Payoneer in Bank of America and you are provided with its details when you activate the US payment service on your Payoneer Account. I have already written a descriptive guide on quick USA payment service questionnaire approval and how to fill it. After USA payment service activation, you are provided with Routing Number and Account Number, which you can use in PayPal to withdraw funds from PayPal to Payoneer.
You can find your USA payment service details in the “Receive Money > US Payment Service” in your Payoneer Account Dashboard right after you Sign into it. You need to follow these steps to withdraw money from PayPal to Payoneer.
Steps to Transfer Funds from PayPal to Payoneer:
Link your US Payment Service Bank Account to PayPal:
This is the very first step you need to withdraw your PayPal funds to Payoneer Master Card. If you have already linked your USA payment service bank account, you can ignore it. Otherwise go to your Payoneer account. After signing in, you will find your USA payment service details in the “Receive Money > US Payment Service” tab. You will find here your Bank Routing Number, Bank Account Number and Account Type.
Adding USA Payment Service Bank Account to PayPal:
After you find the Bank Routing Number, Bank Account Number and Account Type. Open your PayPal account. In your PayPal account, go to “Profile > Update Bank Account” and add a new bank account here. You will see an option asking to verify in (2-3) days. Here provide your Bank Routing Number, Bank Account Number and Account Type which is by default “Checking” which is provided by Payoneer.
Verify your USA Payment Service Details:
After adding these three details (Bank Routing Number, Bank Account Number, Account Type), PayPal will send you two test amounts to your Payoneer account. All you need is to check your PayPal account in 2-3 days, you will see two amounts appearing in your transactions in the Payoneer. Note these two amounts, open your PayPal account, and enter these two amounts as it is in your PayPal account. By doing so, you have verified your USA payment service account with PayPal.
Withdraw money from PayPal to Payoneer:
Here is the last step. After you have verified your US payment service bank account with PayPal. You can now withdraw funds from PayPal to Payoneer. The money that you will withdraw to your Payoneer from PayPal, will be deposited to your Payoneer in 3-4 working days. To withdraw the money simply, go to Withdraw option in your PayPal account and select the USA payment service bank account (provided by Payoneer).
Note: If your PayPal and Payoneer Account linking fails, you need to check these two things first. Very first thing, you have provided USA (United States) country while creating your PayPal account (since the Virtual account provided by Payoneer is also from Bank of America). Second, make sure the name on your PayPal and Payoneer account is same or not. Thats it.
So it was a step by guide for you to Transfer Funds from PayPal to Payoneer. Have any questions to ask, feel free to ask here in the comments.