Difference between withdrawing to business acct or paying own personal recipient acct?

Ecnedurp
Ecnedurp Confirm Email, Member Posts: 2
I am UK based with a Payoneer Business account which withdraws in GBP to my UK bank account. I also have a US based US$ personal bank account.

I will receive payments into my Payoneer account in US$. Unfortunately I can only withdraw to my UK business account as it is associated with my company.

Can I set up my US$ account as a recipient account and pay into that account instead of withdrawing to my UK GBP account?

Hop that makes some sense! Thanks in advance for your help.

Answers

  • Elena_Payoneer
    Elena_Payoneer Member, Administrator, Moderator, VIP Member Posts: 83 ✭✭✭✭✭✭✭

    Hey @Ecnedurp! Thank you for your great question.

    Please be advised that company accounts can only add a bank account under company's name to withdraw funds through our Withdraw to Bank service. Unfortunately it's not possible to add a personal bank account as a recipient bank account as Payments to recipient bank account service is only intended for business purposes like paying your suppliers. For this reason, any personal transactions made through this service will not be approved.

    As an alternative solution, we recommend you to apply for a Payoneer card in USD currency, so you can withdraw funds directly from your USD balance.

    I hope this helps. If you have any additional questions, please don't hesitate to ask :)