As of 2020, Payoneer supports over 200+ countries and almost in every country, the Payoneer user can use their local banks to withdraw money from their Payoneer accounts and also use the Payoneer branded ATM to withdraw money at ATMs across the countries.
But if you’re in Pakistan then there are only a few Payoneer Supported Banks in Pakistan which you can use to withdraw money from your Payoneer account and also use their ATM booths to withdraw funds via the Payoneer ATM Card or also known as MasterCard.
In the beginning, when a user gets the Card from Payoneer, he/she goes to any bank even without known the fact that whether or not the card will work there so he/she goes and tries his/her best to use the ATM but eventually does not get succeeded as most of the ATMs across the country does not support Payoneer branded MasterCard.
To get the information and know exactly which banks in Pakistan do support Payoneer then this post is all for you. I have used almost a few banks that I’m going to list below and some of the banks I have listed below because I have heard from other Payoneer users and they are using them to withdraw their money from Payoneer in Pakistan.
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Payoneer Supported Banks & ATMs In Pakistan
In Pakistan, there are many International & National Banks but not all of them support Payoneer withdrawal and neither their ATMs let you withdraw funds from your Payoneer MasterCard. However, there are some banks and their ATMs that let you withdraw funds from your Payoneer Account and the Payoneer MasterCard across the country.
So without any further ado, let’s take a look at the supported banks’ list below.
We hope you got a better idea of what banks can you use to withdraw money from your Payoneer account in Pakistan. Actually, we have listed these banks on the basis of withdrawing money via Local Banks instead of ATMs.
However, most of the banks have ATMs that accept Payoneer MasterCard money withdraw in some specific areas & cities only. For example, the Allied Bank ATM might not be working in your area but might be working in another place such as in any other city depending upon the Bank.
Should I Withdraw Money From Payoneer Via ATM or Local Bank Account In Pakistan?
Here’s my quick recommendation to all of you guys who are living in Pakistan. Most of the time newbies use their Payoneer Card to withdraw funds from their account via ATMs across the country which charge A LOT OF FEEs & Taxes and that’s why you don’t get a good Exchange Rate and also you get charged by both the Payoneer branded MasterCard, Exchange Fees, and the ATM that you’re using to withdraw funds from.
On the other hand, the best way to withdraw funds from your Payoneer account is to use a Local Bank because it will help you get the most competitive exchange rates, very less transfer fee and also there won’t be any hidden or any extra charges from any of the platforms’ sides.
In most cases, when a user tries to withdraw funds from ATM using his/her Card, he can withdraw a maximum amount of $200 Per Transaction only and when he withdraws this $200 amount via ATM, he/she gets 21000-23000PKR in cash only because of the heavy Fees & worst Exchange RATEs.
But thanks to the Payoneer’s alternative method, You can get a VERY GOOD exchange rate and also there won’t be much fees & tax on your withdrawal when you’ll use your local bank account to withdraw funds from your Payoneer account.
Normally when you withdraw funds from your Payoneer account in Pakistan, you get the most competitive rates. For instance, if you want to withdraw $1000 into your local bank in Pakistan, you’ll get 145000+ (according to the Current Currency Exchange Rates).
How to Transfer Money From Payoneer To Local Bank Account In Pakistan?
If you want to withdraw funds using the Payoneer Supported Bank in Pakistan then you’re good to go and learn the steps below.
In order to transfer money from Payoneer to a bank account in Pakistan, you will first need to have a bank account of your country and then you’ll need to add & link that bank account with your Payoneer account.
If you have not yet added and link bank account with Payoneer then just follow the below steps on how to add a bank account to Payoneer.
- Log into your Payoneer account.
- Go to the “Bank Accounts” under the Settings menu.
- Click on “Add Bank Account” and provide all the necessary bank details.
- Once the bank is added, Payoneer will review it and then approve it shortly.
- After all, your Local Bank account will be linked and you’ll be able to withdraw funds from Payoneer directly to your bank account.
So we concluded that once the bank account is added and linked to your Payoneer account successfully, you’ll have then the option to withdraw funds from your account directly to your local bank account at a very competitive rate and so you’ll get rid of paying too many charges and exchange fees, etc.
After all, I think you found this post helpful. Let me know below in the comments if you have any question related to this post and also don’t forget to share with us the withdrawal status that how much money did you just withdraw and which bank did you use to make the transaction so that other users who are searching here get to know the complete details so that they can also go to the same BANK and make their transactions.