Our focus in this article will be to provide readers with the minimum amount one can withdraw from Payoneer in Nigeria.
Payoneer Global Inc. is an American financial services company that provides online money transfer, digital payment services and provides customers with working capital.
This online payment processing company is similar to the popular PayPal. Many Nigerians use and are still signing up for Payoneer.
This is as result of credibility, efficiency and effectiveness that associates with the global payment processing service provider.
The world has become a global village and lots of young Nigerians are undertaking many international remote jobs, online services and are getting paid in foreign currency.
Processing of international payments has been a challenge in Nigeria. Nigerians has had to face hiccups in trying to receive money in Nigeria as well as send money across borders from Nigeria.
This is why international online payment service providers like Payoneer has become so popular in Nigeria.
While many Nigerians are already using Payoneer, more are expected to sign up and more people seek for flexible payment options for international financial transactions to and fro from Nigeria.
This post will answer some questions relating to use of Payoneer in Nigeria such as withdrawal limits for Payoneer in Nigeria as well as how long it takes for Payoneer withdrawal to enter bank account in Nigeria.
Payoneer Withdrawal Limits in Nigeria
It is an open secret that Payoneer can be used to receive funds globally with Nigeria inclusive.
The online payment service provider has become a household name in international money transfer and digital payment with its credible service in processing online payment across borders and in foreign currencies.
Just like all online payment service providers and financial institutions, Payoneer has regulations and operational guidelines.
This article will focus on operation of Payoneer withing Nigeria cline as it relates to how many days it takes to receive money from Payoneer in Nigeria upon withdraw request.
How to Withdraw Money in Payoneer Account in Nigeria
This section will answer questions boardering on how to withdraw money in Payoneer account in Nigeria. It is a very simple and straightforward process to withdraw money in Payoneer account in Nigeria.
First and foremost, to be able to withdraw money in Payoneer account in Nigeria, user has to open a dormicillary account popularly known as dollar account.
To withdraw money in Payoneer account in Nigeria, it will involve user or account owner sending desired amount from his or her Payoneer account to dormicillary bank account in Nigeria.
This is the major way to cash out money in Payoneer in Nigeria.
What is the Minimum Amount You can Withdraw from Payoneer in Nigeria?
The minimum withdrawal limit for Payoneer in Nigeria is $50 just as maximum withdrawal from Payoneer is $5000 daily.
So you cannot withdraw any money that is below $50 in Payoneer in Nigeria. So if you have amount below $50 in your Payoneer account and you want to withdraw these small amount such as $20 or $30 from your Payoneer in Nigeria, you will need to do “top up”.
This entails paying or depositing in some money into your Payoneer account to reach the withdrawal threshold.
After which you can proceed and withdraw both the top up money and your small amount in Payoneer account together.
How Long Does It Take for Payoneer Withdrawal to Enter Your Bank Account?
Upon placing or making withdrawal order on Payoneer, your bank account doesn’t get credited immediately.
This is because the order undergoes some administrative processes. It takes about 2 to 5 working days for Payoneer withdrawal to be credited into dorm account in Nigeria.
This is how much time it takes for Payoneer Withdrawal to be credited into your bank account in Nigeria.