Why Withdraw to Your Bank Account?
While Payoneer offers a prepaid Mastercard and allows spending online or in stores, most freelancers still prefer withdrawing their funds to a local bank account. It provides better flexibility, access to local currency, and integration with personal finances.
Withdrawal Requirements
Before you can withdraw, make sure:
- Your Payoneer account is fully verified
- You have linked a bank account in your name
- Your balance is not pending (some incoming funds have a waiting period)
Step-by-Step Guide
1. Log into your Payoneer account
Go to Payoneer.com and log in using your credentials.
2. Go to “Withdraw” → “To Bank Account”
In the main dashboard, click the Withdraw tab, then choose “To Bank Account”.
3. Choose Currency & Bank
Select the balance (e.g. USD, EUR) and the linked bank account to which you want to withdraw. You can only send funds to bank accounts registered in your name.
4. Enter the Amount
You’ll see the exchange rate and fees before confirming. Minimum amount depends on your currency and country.
5. Confirm Withdrawal
Click “Review” and then “Withdraw”. You’ll receive a confirmation email and a processing timeline (usually 1–3 business days).
Typical Fees & Conversion Rates
- Withdrawal Fee: ~1.5% above mid-market rate
- Time: 1–3 business days
- Minimum: Usually $50 (can vary)
💡 Tip: Withdraw larger amounts to reduce the impact of fixed or percentage-based fees.
Compatible Banks for Ukraine & EU
- Ukraine: Monobank, PrivatBank, Oschad, PUMB
- EU: SEPA-compatible banks like Revolut, Wise, N26
Payoneer vs Wise: Which to Use?
| Feature | Payoneer | Wise |
|---|---|---|
| Integration | Upwork, Fiverr, Amazon | Manual transfers |
| FX Rates | ~1.5% margin | ~0.5% margin |
| Card Access | Yes (Prepaid Mastercard) | Yes (Debit Mastercard) |
| Time to Bank | 1–3 business days | 1–2 business days |
Affiliate Bonus
If you’re not yet on Payoneer, sign up using this link to receive a bonus after your first $1000 in payments.
Final Thoughts
Withdrawing from Payoneer to your local bank is simple, safe, and efficient. Whether you’re a freelancer in Kyiv or a digital nomad in Berlin, this platform gives you access to global clients — with easy local access to your earnings.
Disclosure: This article contains affiliate links. We may earn a commission if you sign up for Payoneer via our link, at no extra cost to you.
