Withdrawing Payoneer balance via Wire-Transfer.

The MagicianThe Magician Posts: 6Member

Hello there;

I use Payoneer service to withdraw money from my PayPal. Actually the service is very great since PayPal doesn't support withdrawal in my country (UAE) via Wire Transfer. Only US banks of Visa. Currently I'm Egypt and when I tried to withdraw the money from ATMs here I found that ATMs calculates the USD to EGP change rate is quite low, plus there's 3% fees for currency exchange. Withdrawing the money in USD will be very helpful in my case but there are no USD ATMs in Egypt and will save me alot of money since we already have a hard currency crisis here.

1- Is there a way to transfer funds from my Payoneer card to my local bank via Wire Transfer?

2- How to signup to Global Bank Transfer service?

3- Do you know any company or online service that wire transfer money to Egypt and uses Credit Cards as payment option?

Hope anyone can help me.

Best Regards

Comments

  • MelisaMelisa Community Manager Posts: 1,749Administrator ✭✭✭✭✭✭✭

    Hi!

    At the moment we do not have a service that allows you to transfer funds from your Payoneer card to your local bank account via wire transfer.

    You can sign up for our Global Bank Transfer Service through your account with one of our official partners. Please note that not all of the offer such service.

    Regarding your last question, let{s see if any of our users can chip in with their experience with wire transfers in Egypt :thumbsu:

    Melisa

    Payoneer Director of Community 

     

  • The MagicianThe Magician Posts: 6Member

    Thanks Melisa for your reply.

    Actually, until now I can't understand what Global Bank Transfer service.

    90% of my work is done via PayPal. I need a service that allow me to withdraw the money to US bank account then re-transfer the funds to my bank in Egypt. Is your service similar to this or not? Also can you please provide me with more instructions and information about it since I couldn't find satisfying information about my issue in your website.

    Best Regards

  • NissimNissim Head of Community Posts: 4,013Administrator ✭✭✭✭✭✭✭

    Currently our US Payment Service requires that you receive your payments to the Payoneer card. We plan to introduce a service in the future that will allow you to withdraw your card balance directly to your bank account, however currently that option is not available.

    Nissim
    Director of Community at Payoneer
  • The MagicianThe Magician Posts: 6Member

    Thanks Nissim for your reply.

    Actually it will be great!

    Do you have any schedule about that new service? In near or far future :D Since my only problem is withdrawing the money in USD and it's consuming a big part of my mind.

  • NissimNissim Head of Community Posts: 4,013Administrator ✭✭✭✭✭✭✭

    Unfortunately no, but we'll be sure to post an update as soon as it is available.

    Nissim
    Director of Community at Payoneer
  • SkrillexSkrillex Posts: 2Member

    Hi,

     

    I don't know why Melisa and Nissim are saying Payoneer doesn't do wire transfer.

    I received a message at my Payoneer account inbox last month, where I applied for a wire transfer, it got approved (I live in Pakistan).

    I got the confirmation that the money has been transferred on June 4th and it'll take 3 business days for the money to show in my account.

    Today is June 11th and the money is still isn't in my bank account.

    Couple this with Melisa and Nissim's statement that Payoneer doesn't do wire transfer,

    should I be worried? 

     

    I generated a ticket regarding this on June 7th, and I'm waiting for the reply

    Last night I chatted with Payoneer CSR, (before chat they ask your card or bank account last 4 digits so I guess bank transfer services IS available). She said the department is looking into this matter

  • NissimNissim Head of Community Posts: 4,013Administrator ✭✭✭✭✭✭✭

    @Skrillex: you are confusing two different services. Payoneer does offer a global bank transfer service, which sends your payments directly to your bank account (and not the Payoneer card). 

     

    This question, however, was if funds already on the Payoneer card can be withdrawn to a bank account. Currently we do not support that.

    Nissim
    Director of Community at Payoneer
  • The MagicianThe Magician Posts: 6Member
    Nissim wrote on June 11 2013, 9:23 PM: »

    @Skrillex: you are confusing two different services. Payoneer does offer a global bank transfer service, which sends your payments directly to your bank account (and not the Payoneer card). 

     

    This question, however, was if funds already on the Payoneer card can be withdrawn to a bank account. Currently we do not support that.

    Then how to apply to the Global Bank Transfer? I don't want the Card at all. I will withdraw the current funds from the card, but I want to get the next payments via wire directly

  • NissimNissim Head of Community Posts: 4,013Administrator ✭✭✭✭✭✭✭

    Global Bank Transfers are a solution to get paid from companies/sites that pay with Payoneer. In order to use the US Payment Service you need to get payments to your card.

    Nissim
    Director of Community at Payoneer
  • The MagicianThe Magician Posts: 6Member

    That's really confusing me. :)

    As I understood from your website, that Global bank transfer service is that your receive payments from others and then redirect them to our bank account. So, this means that we can't use our bank accounts directly. Which is the same situation for me using PayPal that I can't use my Egyptian bank account and I'm using your details, and instead of loading the funds into my card, you could wire them to my bank account.

    I really can't get why it is so hard

    Thanks Nissim for your efforts.

  • NissimNissim Head of Community Posts: 4,013Administrator ✭✭✭✭✭✭✭

    The US Payment Service allows you to receive US ACH transfers from select companies to your Payoneer card. The service requires payment to the card. Currently you can only use the card to purchase online, in stores, and at ATMs.

     

    In the future you will be able to withdraw your card balance to your bank account, but simply this is not a service we support yet.

    Nissim
    Director of Community at Payoneer
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