Withdraw to Bank - FAQ

LynnPayoneerLynnPayoneer Member, Administrator, Moderator Posts: 109 ✭✭✭✭✭✭

One of the most convenient features Payoneer offers is our Bank Transfer service. With just a few clicks, you can easily withdraw your funds directly to your local bank! Have a question about making a withdrawal from your Payoneer account? Here are the most popular questions and answers related to making bank withdrawals -

1. Why is my bank transfer delayed?
The loading time for your funds to reach your bank can range from as early as within a few hours to up to 5 business days. The timeframe completely depends on your local bank and processor or intermediary banks involved in the transfer. Once the funds are sent out from Payoneer's system, Payoneer does not control the overall speed of the transfer. There are a couple of simple reasons a bank transfer can arrive later than normal such as bank holidays, weekends and incorrect bank details. (Read more about possible causes for bank transfer delays here.. )

If more than 5 business days (Monday - Friday) have passed and your transfer has not reached your bank yet, the first step is to download a Transfer Confirmation.

Use the Transfer Confirmation to review your bank account information and check your bank details are correct. You can provide this Transfer Confirmation directly to your local bank to allow them to trace the funds. If this still doesn't help, no need to worry! Contact Customer Support for further assistance.

2. What are the minimum and maximum amounts I can withdraw?
A common question is what are the minimum and maximum amounts you can withdraw to your local bank. This depends on a couple of different factors such as your specific bank and the currency of your bank account.
You can easily check the minimum and maximum amounts your able to withdraw to your local bank under the "Amount to Withdraw" field on the withdrawal screen.

3. What are my withdrawal fees?
The fees applied to your withdrawal depend on the type of withdrawal. The relevant fees are displayed to you on the "Withdrawal Summary" page shown before you confirm the withdrawal. You can also view any relevant fees for your account under the "Help" menu - select "Pricing & Fees".

Corresponding Bank Fees - Please note, if the withdrawal requires sending a USD wire transfer, other banks involved in the transfer sometimes charge correspondent fees. Additionally, your bank may charge landing fees for the transfer. In this case, Payoneer does not have control over the additional fees as they are deducted by other banks.

4. How do I add a bank account or delete an old one?
If you need to update your bank details, you can manage your bank accounts in Payoneer under the "Settings" menu - select "Bank Accounts". If adding a new bank account, please note it must be approved before a withdrawal can be made to it. This can take a few hours or up to 3 business days. You'll receive an email as soon as it's been approved!
Note: If you have funding sources linked to a bank account you may need to contact support for assistance with moving your funding sources from the old bank account to the new one.

For more information on everything you need to know about withdrawing your Payoneer funds to your local bank account, please check out our Support Center withdraw to bank answers . For any specific questions related to your account, please feel free to reach out to Customer Support for assistance.

Comments

  • MustaphaMustapha Member Posts: 11 ✭✭

    I recently withdrew an amount to my bank account and it went through in 24 hours!
    That's AMAZING, and I would love to thank you for that! 👍👍👍
    Keep it up, guys!

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