How to withdraw money from Payoneer – Complete Guide [Updated August 2016]

Note: This is a complete guide on how to withdraw money from Payoneer. Payoneer NOW has added Bank Withdrawal method enabling freelancers in Pakistan to withdraw funds. This Payoneer Guide is updated as on August 2016 with added information regarding ATM support, charges and bank withdrawal methods.

Please get in touch with me at and let me know once you have subscribed. I will then further guide you with the steps to help you in earning FIRST $100 and $25 BONUS!

Payoneer is a New York, USA based international payment gateway that enables freelancers and entrepreneurs residing in any part of the world to withdraw their earnings through Mastercard supported ATMs and bank transfers.

Once you order your Payoneer card from this link, you will get a FREE $25 referral reward when you receive a payment of $100 in your payoneer account. Click the picture below to join now:

Payoneer provides you with a prepaid MasterCard debit card. You can use it with any MasterCard supported ATM throughout the world. You also have an option to add a US bank for receiving payments from any US or EU company.

If you are a freelancer, you would have a great idea about the importance of withdrawing funds to your local account. At times, due to local holidays, funds also get delayed.

However, one of the easiest, and the most viable options is using the Payoneer MasterCard Debit Card. Whether or not there are local or international holidays, you can always get paid and withdraw from any ATM in your local currency:

(3% currency conversion charges apply if withdrawing to any other currency other than the US Dollar.)

I traveled to Dubai in September, 2015 and since I work online, my payments are all transferred to my local PKR account connected in my home country, Pakistan.

However, while abroad, it was not possible for me to withdraw funds from my local account. Hence, I received funds from Payoneer and withdrew in AED from Abu Dhabi and Dubai using the Prepaid Debit Card. It worked like a charm and solved all of my payment problems.

Where freelancers residing in Europe can use Paypal, direct bank withdrawals, and other methods, freelancers from Asian countries have limited options.

Websites like Fiverr only support Paypal and Payoneer, and hence there is nothing else but to use only these 2 options to withdraw funds from.

When I started working online through Fiverr, I noticed that it was very hard to withdraw funds! So, the only option left was to apply for a payoneer card since Paypal isn’t supported in Pakistan. But the pain didn’t end there.

I ordered the fast express withdrawal. This was not the free method, but provided guaranteed delivery of card within 3 business days via using DHL. I was provided with a tracking number but also charged with $60, which would be deducted once the card received and funds were loaded to my account from Fiverr.

Most of the time, you will receive your card using Normal Mail Delivery. Only opt for DHL Express Mail if you have applied already and did not receive your card!


That was a big pain! Total of $65 were deducted, inclusive of $5 Payoneer card charges. So, now that you have the card, you can further find out how to withdraw money from payoneer using the steps mentioned below:

Step 1: Activate Your Card:

Once you order your card, may need to wait as long as even 30 days to have it at your doorsteps. So be patient. This is because it takes time for regular mail from the US to receive at your postal address. Although 30 days is a generic threshold, you may get the card even within 7 days.

Here is how the document looks like when you order your new Payoneer ATM card:

In the above document (where I have omitted my postal address), you will get your Payoneer card along with simple instructions on how to activate it online.

You need to order the card after signing up using this link. Once signed up, login to your Payoneer account once you receive the card. You need to activate your card. Enter your card number and PIN number, and let the funds load to your Payoneer card. Payoneer will deducted the following charges from your account:

  • The $5 card activation charges
  • $60 (if you ordered fast-express mail service).

Step 2: Loading Funds to Your Card:

A number of online platforms such as,, and all support Payoneer Mastercard. All websites have different charges. If you are withdrawing funds from Fiverr, you have two options:

  1. Wait for 2 days and let the funds load with a fee of $1
  2. Immediate load within 2 hours with a fee of $5

Payoneer deducts fees each time you load funds to your card. However, if you are withdrawing from Elance, here is the list of charges:

  1. Wait for 2 days with a fee of $0
  2. Immediate load at $2.5 per load.

Usually withdrawing funds to your payoneer account is a simple process and if you need the funds within 2 hours, then a $5 charge is certainly not a big deal.

Step 3: How to withdraw money from Payoneer using ATM? POS terminal, online transactions:

Here comes the trickiest part of withdrawing funds from Payoneer card in Pakistan. So far, only the banks below support Payoneer ATM debit card. Using your card on any other bank’s ATM apart from the ones mentioned below is purely at your own risk. Your card may be seized and you may never get the funds. Only 4 banks support Payoneer MasterCard:

  1. Standard Chartered

  2. MCB (Muslim Commercial Bank)

  3. Bank Alfalah (The conventional, red-branded ATM machines)

Each ATM has its own transaction charges. Please note that these charges are apart from what Payoneer charges you for withdrawals.

Because ATM provides services to foreign cardholders in Pakistan, they charges these service fees. Since Payoneer is a foreign card, all ATMS will charge service fees each time you withdraw funds. Here is the list of service charges for each withdrawal:

  1. Standard Chartered charges PKR 300

  2. MCB charges PKR 200

  3. Bank Alfalah charges FREE

Bank Alfalah’s Red branches would only work with Payoneer card, not the green ones.

So far, the ONLY bank in Pakistan operating right now that does not charge anything over and above the Payoneer’s own charges is Bank Alfalah. Apart from that, Payoneer charges $3.15 per withdrawal. Moreover, there is a 3% currency conversion charges for each withdrawal.

You can also withdraw no more than 20,000 PKR at any one time. This is the maximum withdrawing limit from ATM.

The total cost of withdrawing funds come up to be in the range of 600 to 1000 PKR for withdrawals. If you wanted to withdraw 20,000 PKR from SCB, it will cost you:

300 PKR + 315 PKR (approx) + 2% currency conversion charges (2PKR * 200) = 1015 PKR.

MCB saves you 100 PKR if you use their ATM. I would strongly recommend not to use MCB at all as it has the worst ever services!

My inlaws reside in Samundri, a small quite town close to Faisalabad, a metro city of Pakistan. The only ATM option I had was MCB to receive my funds. I withdrew 11,500 PKR but the money never dispensed out of the ATM. This happened on 2nd December 2014, and exactly one month after launching a complain, I got the funds back to Payoneer.

I would not recommend MCB due to its pathetic and poor banking services and network. I would recommend Bank Alfalah or Standard Chartered Bank for all your ATM withdrawals.

You can also use your payoneer card at POS sales terminals. Payoneer will charge you 3% in currency conversions in any part of the world if you purchase in any other currency than the US Dollar.

You can also use it online to pay for memberships on Freelancer, Odesk, Elance, etc. and at other websites such as Amazon, Ebay, Paypal, Bluehost, Hostgator, etc.

Please note that there are pros and cons of using Payoneer card. To get a payoneer card, sign up using this referral link, and you will receive with $25 referral bonus with $100 payments to your card.

What are your thoughts?

Withdrawal options are important to withdraw funds in your local currency. Hence, I would love to know your comments below. Let me know how practical this guide was in getting a Payoneer Master card. By know, I am confident that most of you will be knowledgable on how to withdraw money from payoneer.