Since the launch of Payoneer’s Local Bank Transfer Service, we have received many questions about receiving payments both from the card and to your bank account. In today’s community corner, I’d like to clarify how the programs work.
The Payoneer Prepaid Debit Mastercard® Card
If you have the Payoneer card, when your partner sends your payment, the funds are loaded directly onto your Payoneer card. Since Payoneer isn’t an eWallet, funds aren’t stores “in a cloud” awaiting for you to transfer them. Once they are loaded, you can immediately withdraw your funds at any ATM or use the card for purchases online or offline, and you can view transaction history online under My Account.
The Global Bank Transfer Service
When you select GBT as your payment method, funds are sent from your partner directly to your bank account. They do not stop along the way in My Account or in any cloud along the way. They are literally transfered directly from the bank into yours.
Can I receive some of my payments to my card and others to my bank account?
Since we either send the payments to your card, or to your bank account, the answer would be no. You can’t choose a different payment method each time you get paid, and you need to choose one payment method for each partner you work with.
So I CAN receive payments to both a card and my bank account?
If you are working with more than one partner, you can elect to receive payments from one partner to your Payoneer card, and payments from another partner to your bank account. Since each account is a different type of account (think checking account vs. savings account), each of these would have to be listed under a different email address.
Can I have more than one partner associated with my bank account?
Yes you can! Just like you can have multiple partners on one Payoneer card, you can also have multiple partners paying you directly to your bank account through the same Payoneer account.
How do I add multiple partners to one Payoneer card?
I’m glad you asked! Especially since I already explained how to add multiple partners to one Payoneer card before.
How do I add multiple partners for GBT to one Payoneer account?
Actually, it’s the exact same process as you saw above. At the moment, the banner still talks about the Payoneer card, but we will be updating that banner soon to say Payoneer account, and then it will be a bit more clear. But go ahead and follow the same procedure – it will work.
What if I have more questions about these processes?
You can ask us here on the blog, visit us on the Payoneer forums, or contact Payoneer customer support at any time. We would all be more than happy to answer your questions. Do you have any other questions about either of these services? Let us know!
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