Payoneer and PayPal are financial support companies that provide their services across borders, making payment methods easier for businesses and online services. Both of these companies provide domestic as well as international transactions; however, PayPal provides merchant accounts. Both of these accounts are useful for users. One of the basic differences between these two is the rate of their Payoneer charge, 3.5% to 4%, and PayPal charges 2% on exchange.
You can link both of your accounts, Payoneer with PayPal, easily. If you don’t know how to link these two accounts, this post will help you. After reading this post, you can link your accounts to each other.
How to Link Payoneer with PayPal? (Stepwise Guide)
You can link Payoneer with PayPal to get your community federal savings bank. Follow the below easy steps to link PayPal with Payoneer.
Step 1: Set Up Payoneer and PayPal Accounts
You must have both accounts set up and verified before linking your Payoneer account with your PayPal account. If you don’t already have accounts with these platforms, sign up for a Payoneer account at payoneer.com and a PayPal account at paypal.com. Complete the necessary verification processes for each platform, including email confirmation and identity verification.
Step 2: Activate the US Payment Service in Payoneer
To link your Payoneer account with PayPal, you need to have the US Payment Service activated in your Payoneer account. This service enables you to receive payments from US-based companies, including PayPal.
Log in to your Payoneer account and navigate to the “Receive” tab. Look for the “Global Payment Service” option and activate it. Upon activation, you will receive your US bank account details, including the bank name, account number, and routing number.
Step 3: Link Your Payoneer Account to PayPal
Now that you have your US bank account details from Payoneer, you can link them to your PayPal account. Follow these steps:
- Log in to your PayPal account.
- Navigate to the “Wallet” tab located in the top menu.
- Click on “Link a bank” or “Link a card or bank” (depending on your PayPal account interface).
- Choose “Link a bank account” from the available options.
- Select the option to add a US bank account.
- Enter the bank account details you received from Payoneer, including the bank name, account number, and routing number.
- Click “Agree and Link” to proceed.
Step 4: Verify your Payoneer account in PayPal
After linking your Payoneer account to PayPal, you need to verify it. PayPal will make two small deposits (usually less than $1) into your Payoneer account within a few business days. You need to confirm these deposits in your PayPal account to complete the verification process:
- Log in to your Payoneer account and check the transaction history to find the deposit amounts from PayPal.
- Log in to your PayPal account and navigate to the “Wallet” tab.
- Locate the linked Payoneer account and click on “Confirm bank account.”
- Enter the two deposit amounts you found in your Payoneer account and click “Confirm.”
Your Payoneer account should now be verified and linked with your PayPal account.
Quick Method:
- Go to the Payoneer sign-up page and log in to your account from there.
- Now, after logging on to the home page on top, you will see the “receive” option. Click on it and choose the global payment service from the menu.
- After that, you will be landed on the approved account page. Choose the USD section and click on the view detail tab.
- After that new window is opened, choose the Bank name, Routing, and account number to copy all these details.
- Now login to your PayPal account and click on Pay & Get Paid, and after that, choose Banks and Cards.
- A new window will be opened. Choose the link to a new bank from there.
- Now provide all your details of your PayPal and press the Link to your Bank.
- This way, your PayPal account will be connected to your Payoneer account. It does not connect. Wait for a few days and try again.
Payoneer and PayPal: Which one is more secure? (Common Question)
Payoneer and PayPal are both international payment methods used by billions of people worldwide, and both help businesses across the border.
Payoneer is a more widely used platform than PayPal, but according to our search, PayPal is more secure than Payoneer. Although Payoneer is a widely used payment channel, it is more favorable because of its lower transaction fees, huge network, and easy payment structure.
Which Payment Method Is Good for You?
Well, it depends on your requirements and needs. However, according to our search, both payment methods, PayPal and Payoneer, are best in their way. But Payoneer is slightly more expensive and lacks flexibility than PayPal. Paypal is easy to navigate, has an exchange rate, and provides faster transactions than Payoneer. Paypal has one prominent feature: its merchant account availability, which Payoneer does not have.
FAQs
Yes, you can easily link both of these accounts with each other. The method is mentioned above in this post. You can link both these accounts by following easy steps.
As compared to Payoneer, PayPal is more secure and fast and has an extensive network and an easy payment methodology. Payoneer is widely used for business transactions but has more exchange fees than PayPal.
The minimum transaction rate for Payoneer Is about $20, and the maximum is $3000. In PayPal, the maximum transaction per day is $5000.
While linking Payoneer to PayPal is possible in many countries, it may not be available everywhere due to various regulations or restrictions. Before attempting the process, it’s essential to check if your country supports linking Payoneer to PayPal.
Yes, it is generally safe to link your Payoneer account with PayPal. Both platforms use encryption and advanced security measures to protect your personal and financial information. However, always use strong, unique passwords for both accounts and enable two-factor authentication to enhance security.
Yes, once you have successfully linked your Payoneer account with PayPal, you can transfer money between the two platforms. When transferring funds from PayPal to Payoneer, the funds will be sent to your Payoneer account’s US bank account provided through the Global Payment Service.
There are no fees for linking your Payoneer account to PayPal. However, when transferring money between the platforms, you may be charged fees by both PayPal and Payoneer. These fees depend on various factors, such as the amount transferred and the currencies involved.
PayPal generally allows you to link multiple bank accounts, but it’s not recommended to link multiple Payoneer accounts to a single PayPal account. Linking multiple Payoneer accounts may raise suspicion and lead to limitations or account closures by either Payoneer or PayPal.
Final Verdict
Payoneer and PayPal are digital payment methods across the border. You can use both of these methods by linking them together. This article will help you to link both of these payment platforms. I hope this article will be informative for you. Thanks for visiting.
