How To Add Your Local Back Account in Payoneer


Payoneer is a payment platform which allows you to get paid by global companies and marketplace and also transfer funds quickly at a reduced cost to direct client worldwide.

Adding your local bank account in Payoneer lets you withdraw your funds directly to them, thus making withdrawal easier and fast. Formerly this features was not supported in Nigeria as it wasn't on the list of over 150 countries that can benefit from this service. Good News! Nigerian has now been included! thus Payoneer account holders from Nigerian can now add their local bank account [Domiciliary Account (Dollar Account)].

On this post, I will be showing you on How To Add Your Local Back Account in Payoneer.

The Pros and Cons of Adding Your Local Back Account in Payoneer

Pros:
[*] Easily transfer funds directly to your local account.
[*] You can add a bank account you don't own providing the correct details of the account. With this features, you can pay your clients directly to their bank account.
[*] You can add more than one bank accounts.

Cons:
[*] For Nigerians, you can only add a Domiciliary account (Dollar Account) as this doesn't work in Niara Bank Accounts.
[*] The amount you can withdraw depends on the following:
1. Your available balance
2. Your minimum withdrawal amount per transaction
3. Your maximum withdrawal amount per transaction
These details are unique to each Payoneer user and are clearly displayed beneath the withdrawal amount field.
[*] After withdrawal, funds takes 2-5 business days to reach your bank account after receiving your withdrawal confirmation email.
[*] Withdrawal fee varies according to the type of withdrawal.

Steps on How To Add Your Local Back Account in Payoneer

Step 1: Log in your Payoneer Account.

Step 2: Click on the Settings tab > Bank Accounts.


Step 3: On the BANK ACCOUNTS page, click on the "ADD BANK ACCOUNT" button.


Step 4: Enter bank details by filling the form provided on the page. This includes the following:
[*] Select bank account type:
[*] Bank currency:
[*] Bank account country:
[*] Bank name:
[*] Account name:
[*] Account number:
[*] SWIFT/BIC:


Step 4: After filling the form, Check ☑ and agree to the Payoneer Terms & Conditions, Check ☑ and agree to the information of the bank account details you provided.

After filling the form, Click NEXT.


Step 6:  Confirm your Payoneer account details by providing the following details:
[*] Date of Birth (MM/DD/YY):
[*] Payoneer password:

After confirmation, Click Add bank account.


Congratulations! Back account successfully added.


A confirmation email will be sent to you by Payoneer.


Bank Account Approved!


N.B: This service is subject to availability. To check if the service is supported for your country, please click here.

Cheers, & Enjoy Online Payments!