Hisham Sarwar
Payoneer, a leading global payments platform, has recently launched its new Global Bank Transfer feature. This new addition is aimed at making the lives of IT professionals and freelancers easier, enabling them to receive payments from clients around the world in a fast, secure, and convenient manner.
With the lack of major payment gateways in Pakistan like Paypal etc, getting money from the clients from WEST to Pakistan has always been a major issue for Pakistani IT professionals.
Payoneer is a payment solution for diverse markets. Whether you’re a small business, consultant, or professional, getting paid is critical. With Payoneer, you can receive international money transfers from any company in the world quickly, securely, and at a low cost.
Withdrawing money using a Payoneer card from ATM is an expensive option. The ATM withdrawal fee is US$3 and our local ATM machines charge 300 Pk Rupees. Withdrawing money using ATM means losing a lot of money in the process.
Payoneer now offers to Withdraw funds to your local bank:
The good news is, Payoneer has introduced withdrawing money to local bank accounts as you can see from the image above. Under withdraw drop-down there is a new option that says “to bank account”. Once you click on this option, you are prompted to provide your bank account information in Pakistan. Local bank transfer was always a preferred choice of all IT professionals.
Initially, the minimum withdrawal is set to US$200. It takes 2-5 days to receive money in your bank account in Pakistan.
It takes one-week minimum (at times it happens within a day as well) to approve your status and eligibility for linking your bank account with the Master card.
Last year, our IT Minister Anusha Rehman talked about inviting PayPal to Pakistan but no further news is learned on that front as of yet.
Pakistan needs to have more payment gateway solutions for IT professionals in the country.
