It is no longer possible for a Payoneer account holder to use the United States bank account linked to a Payoneer account to withdraw PayPal funds. This is certainly a big loss to those individuals or corporate bodies in countries not supported by PayPal of where PayPal withdrawal option to a bank account is not available. PayPal account owners who have enjoyed this service offered by Payoneer and which have eased the stress of getting PayPal funds are now in a dilemma as to which service can best satisfy their need especially when they use PayPal services in receiving funds.
One major reason why PayPal discontinued the use of Payoneer bank accounts for funds withdrawal may be due to the fraudulent activities perpetrated by users which are against the terms and conditions or policies of PayPal. This ban did not come to many as a surprise because PayPal have been known to have zero tolerance on activities inimical to its integrity and the repute it has gained over the years as a payment processor. PayPal advises that individuals can still open a US bank account directly with a US bank and withdraw PayPal funds with it.
Payoneer ban by PayPal?----Alternatives Available for PayPal funds withdrawal:
Since the slamming of restrictions on the use of Payoneer bank accounts for withdrawing PayPal funds, many individuals have been looking for alternatives to navigate through this restriction and get their funds directly into their bank account. There may just be a walk around!
Firstly, you can use Onlinenaira where you can apply for a PES(personal email service) that gives you a personalized PayPal email where you can receive your PayPal funds from merchants and clients. Though there are applicable fees when you receive your funds in to your PES that offsets logistics, it is still of great benefit especially when you do not have a means of getting your funds into your bank account in your home country. Onlinenaira helps deposit the received PayPal funds into a bank account of your choice anywhere in the world.
Secondly, you can sign up to Netspend and get your own US bank account. PayPal supports Netspend bank account. However, you must be a resident in the United States and have a social security number before your Netspend card and account is approved, sent to you and activated. So this may not be very convenient for people residing outside the United States except you have a trusted friend who can help you with the process.
Thirdly, you can receive your PayPal funds through a trusted friend or a relation residing in a country supported by PayPal for funds withdrawal. In this case he or she can withdraw the available funds in his or her PayPal account to a bank account and re-send the money to you via other means such as western union or International bank transfer after it has been cashed. However, you must be sure you trust this individual to a very high degree!
Lastly, you may wish to buy products online in online stores that accepts PayPal payments if your PayPal account does not have the feature of funds withdrawal. There are lots of online stores across the US and Europe that accepts PayPal where you can make payments and purchase goods or services using the ‘send money’ feature in your PayPal account.