How To Get Payoneer MasterCard® and a Virtual US Bank Account
Payoneer is an online financial services company. Hence, It provides internet funds transfer into your virtual US bank account. Furthermore, it engages in e-commerce payments. Therefore, getting the Payoneer debit Mastercard is free of charge for all.
Essentially, you get a virtual US Bank account with routing number. Also, you can obtain a Debit MasterCard from Payoneer for free that works on your local ATMs. Similarly, you also get a free $25 referral bonus when someone subscribes to their service through you.
Furthermore, you can withdraw from anywhere using the Payoneer debit card through MasterCard supported ATMs worldwide. Also, Payoneer solves the problem of withdrawing money from PayPal in unsupported countries like Nigeria. Likewise, online users Online also use Payoneer to confirm and verify PayPal accounts with their US payment service.
Similarly, you can receive payment with your Payoneer account from affiliate and merchants. Hence, it is an easy way to receive payment online. Also, you will receive a Payoneer debit Mastercard at your address for free. Consequently, you can use it to purchase at online stores and withdraw at your ATM in your currency.
Therefore, to obtain a obtain Payoneer Debit Card, sign up for a Payoneer account. Once it is approved, Payoneer will deliver your Debit Mastercard to your doorstep.
First of all, to apply For Payoneer Mastercard
- First of all, Go to payoneer.com.
- Fill in your complete name, address, as it is on your ID card.
- Also, create a password, secret question, and answer.
- Also, select your ID type. For instance, a driver’s license and provide the information on the ID.
- Furthermore, enter an alternate shipping address, if different from the address you provided. You should realize that your Payoneer Debit Card will at the address.
- Afterward, click the Order Button.
- Afterward, you will wait for the approval of the card. If the card is approved, you will receive an email alert stating the date the card will arrive.
- After this, your Payoneer Mastercard will ship. Delivery of the Payoneer Mastercard might take a few weeks. If the estimated time given has passed and you are yet to receive the card. You should visit the nearest Post Office branch to you. Give them your name and shipping address in other to search out the mail.
- Lastly, when the card arrives, you will sign into the Payoneer website and activate your Payoneer Mastercard. After the activation, you can use your card to withdraw money or to purchase at online stores.
How The Virtual US Account Works
Essentially, Payoneer maintains many of mini-accounts under its main account, held in an American bank. Hence, whenever a merchant makes a transfer, each sub-accounts is indicated using its routing and account numbers. Also, when funds are paid into these sub-accounts, Payoneer transfers the funds to the referenced card.
In contrast to the name virtual, these accounts are not virtual at all. But Payoneer referred to them here as virtual accounts. This is because they serve as conduits to load cash into the cards. Even more, you cannot use the account for wire transfers and also do not bear interest.
A Case Study
Assuming, you are a blogger based in Nigeria and you receive your monthly commission into your PayPal account. With a Payoneer debit MasterCard and virtual account, you can perform a transfer from your PayPal into your Virtual US Account.
It is most worthy that the funds will be available on your Payoneer Debit MasterCard balance. And withdrawn from an ATM in Lagos. Similarly, one can use it at any MasterCard point-of-sale station. Therefore, Payoneer’s Virtual US Account program is only available to a select group of cardholders. Those Payoneer can correctly verify the source and destination of funds.
The Payoneer Virtual US Account
There are no fees attached to creating the account excerpt the 1% of all transaction fees. Because the payment service is a virtual as well as a checking account. Consequently, you can only use it to receive cash and not send money from the bank account.
The eligibility conditions for Payoneer Virtual bank accounts
- First of all, you must have a Payoneer debit Mastercard.
- Then, you can receive money from listed US merchants.
Companies eligible to send money to Payoneer Virtual Bank account.
- Alamy Inc.
- Amazon.com Inc. (and its subsidiaries, including CreateSpace.)
- Apollo Group, Inc
- Apple Inc.
- Barnes & Noble
- Bright Market LLC
- Digital River Inc. (and its subsidiaries, including SWReg)
- eBay Inc
- E-Trade Financial Corporation
- Facebook Inc.
- Getty Images Inc.
- Google Inc.(Google AdSense, and its subsidiaries, including AdMob)
- Half.com Inc.
- Intel Corporation
- Keynetics Inc. (Click Bank)
- LinkedIn Corporation
- LinkShare Corporation
- LSI Corporation
- Microsoft Corporation
- Nokia Corporation
- PayPal Inc.
- Pepperjam Inc
- Quotient Intergraded solutions
- ShareASale.com Inc.
- ValueClick Inc. (Commission Junction)
- Yahoo! Inc.
This list includes reputable US companies and their programs like Google AdSense, Commission Junction, Amazon Associates, etc.
Type of Deposit Accepted By Payoneer Virtual Bank Account
Lastly, Payoneer US Payment Service accepts ACH (Automated Clearing House). Or a Direct Deposit from the US companies. And also for clients who are not Payoneer partners, they don’t accept wire transfers.