Payoneer financial service company provides a safe way to conduct online transactions, including making deposits, withdrawals, and paying bills at the comfort of your computer or mobile phone. Payoneer allows you to make up to 30 withdrawals daily with a $5000 Daily limit and 30 point of sales transaction daily with $2500 daily limit.
Payoneer minimum withdrawal limit is $50 and $100 for some countries,. If you’re a NIgerian user, you can request for payment after you have received not less than $5000 with your Payoneer account.
Payoneer company in fulfillment of the duty imposed on it by the law requires all the users to verify their account. You need to add verifiable information to your account to enable you to make transactions with Payoneer without withdrawal or deposit limit.
The withdrawal or deposit limit happens when you first open a standard or business Payoneer account. The transaction limit restricts the amount of money you can deposit or send during a single business day, week as well as month. The maximum limit is based on a number of different things and new accounts are always given lower limits.
How to check Payoneer withdrawal limit
1. Log in to your Payoneer account.
2. Under “More about your account” at the bottom left of the page, click See how much you can send with Payoneer
3. Under “Withdraw money,” click Remove limit.
4. Follow the steps on-screen instructions to remove your withdrawal limit.
Once you begin to use your Payoneer account to make transactions Payoneer will give you the option to provide additional verification of your identity, by uploading a clear, legible, valid, and unedited scanned color copy or photo of one of the following documents:
How to verify and increase Payoneer withdrawal/deposit limit
To ensure your new Payoneer account is limitation free:
1. Confirm your email address
2. Link your bank account
3. Confirm your business name (for a business account)
4. Add a credit or debit card
Sometimes you may be required to upload an ID Card or any government-issued document to get your account verified. In such case, upload a clear document by following the instruction on the Payoneer website which includes any of the following documents:
- The front and back of your driving license
- The photo page of your passport
- Front and back of your national ID card
- You will also be asked to verify your address and take a selfie.
What is Payoneer withdrawal limit
As we mentioned above, increasing your limits, whether withdrawal or deposit limit is usually a matter of providing additional account verifications.
How much money can I withdraw? You can make up to 30 withdrawals daily with a $5000 Daily limit. You can make up to 30 points of sales transactions daily with a $2500 daily limit.
Payoneer withdrawal methods
There are methods you can use to withdraw money from your Payoneer Account:
1. Transfer to your bank account: You can link your bank account to Payoneer, and transfer your Payoneer balance to this bank account. This method takes 3 to 5 business days for your funds to be available.
Payoneer transfer using your debit card: You can transfer your funds to an eligible card that you linked to your Payoneer account. Once you have done this the funds will be available in your card balance.
How to transfer money from Payoneer to a bank account
Finding out how to withdraw funds from your Payoneer is one of the first concerns you may have. To transfer your Payoneer balance to your bank account you can either use the Payoneer application (mobile app) or transfer online via the website
1. Log in and go to ‘Send’
2. Choose the Money Transfer option to send money to a bank account
3. a country and currency
4. Enter the amount you’re sending
5. Select a payment method
6. Enter your personal details
7. Enter your recipient’s details and confirm the amount
8. Enter and submit your payment details
Don’t forget to review your request before clicking the final submit button. Your money should arrive within 30 minutes if you made an instant transfer and within one business day if you made a standard transfer.
How to transfer money from Payoneer to a mobile wallet
1. Log in and go to ‘Send’
2. Choose the Money Transfer option to send to a mobile
3. Select a country and currency
4. Enter the amount you’re sending
5. Select a payment method ID.
6. Enter your recipient’s name and phone number
7. Confirm the amount and send
Transaction limits apply to the Payoneer withdrawal and money transfer service and vary depending on the status of your Payoneer account, selected payment method, country of residence, and the country you are sending funds to.
The withdrawal fee is also different depending on the withdrawal amount and the bank location.
You will have to verify your Payoneer account before withdrawing funds. A withdrawal cannot be canceled and make sure that all banking details are correct beforehand.
Make sure that you select the bank account which you want to use to receive your money and the amount you want to transfer.
Beware
Never reply to a request that asks you to send personal information to increase your Payoneer withdrawal limit. Payoneer never requests these types of emails, and will never ask you to enter personal information.