Sending and receiving money to and from friends, family members, and customers has become easier recently in South Africa. One of the leading financial institutions that offer this ease of money transfer is Payoneer. This is a multi-million dollar company that ensures that South African customers have secured business transactions.
Payoneer is a global online financial institution. Is Payoneer available in South Africa? Yes, it is. The financial institution offers secured services and makes it easy for users to set up automatic payments for its customers.
How to set up a Payoneer South Africa account and use it afterwards
Before you can start enjoying their services, you must complete a Payoneer South Africa registration. This is not a difficult task as long as you have the necessary documents for verification. Below are the Payoneer registration processes to follow:
- Log in to their official website and choose "Register."
- Choose whether you are registering an account for professional or personal use.
- Fill in your name, date of birth, and email address.
- Also, fill in your mobile/telephone number and contact address.
- Choose a secured password and confirm it.
- Select a security question and provide answers that you can easily recall.
- Fill in the local bank account details you will be using to receive payments.
- Tick the box next to the terms and conditions to agree before moving to the next phase.
- Once everything is done, you will receive a congratulatory message with the email address provided.
- After that, click the link in the email you receive, and you will be redirected to the financial institution's official site.
- Once you are there, you will be required to select another two security questions and provide relevant answers.
- Then, click on submit, and you will be redirected to your dashboard.
Making payments with a Payoneer account
- Visit the official website of the financial institution and log in with your email and password;
- Select “Pay" from the options and "Make a Payment” from the drop-down list.
- Choose whether you are paying into another user's account or doing a bank transfer.
- If you are paying into another Payoneer account, click on the option and input the person's email address before clicking the "Next" button.
- Enter the payment details, including the amount you want to transfer and descriptive notes.
- Review your details to ensure everything is correct before clicking to pay.
How can I withdraw money from Payoneer to a bank account?
To initiate a withdrawal from your Payoneer account to your local bank account, follow this guide:
- Log in to your account.
- Under the currency, click on withdraw.
- On the new window, choose from your balance and the bank account you are withdrawing to.
- Enter the amount you want to withdraw from your balance.
- Click on the "Review" button to be sure you have correctly inputted the necessary details.
- Once everything is correct, check the box next to the "I approve this transaction" statement.
- Lastly, click the "Withdraw" button.
You should get an email informing you about completing the fund withdrawal and when you will receive the funds in your local bank account.
How much does Payoneer cost? Payoneer fees are 2% of the total money you are withdrawing.
Payoneer vs PayPal
Like Payoneer, PayPal is also a financial institution that offers payment services. Is Payoneer better than PayPal? Well, these service providers have their peculiarities. For instance, they charge about $3 for every completed transaction besides 2% of the total money you are withdrawing, which is somehow high compared to PayPal's.
On the other hand, PayPal does not operate in all countries compared with Payoneer.
Payoneer South Africa review
Below are some of what users of the financial institution's services have to say:
Payoneer is one of the best, they allow someone to link more than account to the Payoneer account. This encouraged me to business using Payoneer.
First to note off their excessive charges, if u don't use your account within 12-months you also get charged, absurd, they should review their charges.
My overall experience with Payoneer is really nice because I have received my freelance payment a lot of times through Payoneer. I really like the services and features of Payoneer.
Payoneer South Africa contact details
You can reach the institution’s customer service department on their phone number or through their social media platforms.
- International: 1-646-658-3695
- Live chat: custhelp.com/app/chat/chat_launch
- Email: CustomerServiceManager@Payoneer.com
Payoneer South Africa is another verified and secure global online bank. Considering the exceptional services the company offers, it will soon be one of the leading online financial institutions globally.
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DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
Source: Briefly News