With lack of major payment gateways in Pakistan like paypal etc, getting money from the clients from WEST to Pakistan has always been a major issue for Pakistani IT professionals.
Payoneer is a payment solution for diverse markets. Whether you’re a small business, consultant or professional, getting paid is critical. With Payoneer, you can receive international money transfers from any company in the world quickly, securely and at low cost.
Withdrawing money using Payoneer card from ATM is an expensive option. The ATM withdrawl fees is US$3 and our local ATM machines charge 300 Pk Rupees. Withdrawing money using ATM means loosing a lot of money in the process.
Payoneer now offers Withdraw funds to your local bank:
Good news is, Payoneer has introduced withdraw money to local bank account as you can see from the image above. Under withdraw drop-down there is a new option which says “to bank account”. Once you click on this option, you are promoted to provide your bank account information in Pakistan. Local bank transfer was always a preferred choice of all IT professionals.
Initially the minimum withdraw is set to US$200. It takes 2-5 days to receive money in your bank account in Pakistan.
IT takes one week minimum (at times it happens within a day as well) to approve your status and eligibility of linking bank account with the Master card.
Last year, our IT Minister Anusha Rehman talked about inviting paypal to Pakistan but no further news is learned on that front as of yet.
Pakistan needs to have more payment gateway solutions for the IT professionals in the country.