Why PayPal Isn’t Available in Pakistan
Payment Methods Comparison for Pakistani Freelancers
| Method | Withdrawal Fee | Transfer Time | PKR Support | Rating |
|---|---|---|---|---|
| Payoneer | 1% | 1-2 days | Yes | Best Overall |
Fiverrand
Upwork. I had heard so many success stories about people making a living online. However, as I started setting things up, I realized that one of the most popular payment solutions, PayPal, was not available in Pakistan. This was a huge hurdle for many freelancers like myself.
**Why is PayPal not available in Pakistan?**The primary reason is regulatory issues and concerns surrounding money laundering. The State Bank of Pakistan has strict regulations regarding foreign transactions, making it challenging for global services like PayPal to operate here. This situation has left many freelancers in Pakistan searching for alternatives, and that’s where
Payoneercomes in. Payoneer has emerged as the go-to payment solution for freelancers in Pakistan. With its seamless integration with platforms like Upwork, Fiverr, and
Toptal, it allows us to receive payments easily and withdraw them to local banks, including Allied Bank.
Withdrawing from Payoneer to Allied Bank
Now that you know why PayPal isn’t an option, let’s discuss how to withdraw your hard-earned money from Payoneer to Allied Bank.Step 1: Set Up Your Payoneer AccountIf you haven’t already, the first step is to set up your Payoneer account. It’s a straightforward process:
- Visit the Payoneer website.
- Click on “Sign Up” and fill in your details.
- Provide the necessary identification documents for verification.
Step 2: Link Your Payoneer Account to Allied BankLinking your Payoneer account to Allied Bank is simple:
- Log in to your Payoneer account.
- Go to the ‘Withdraw’ section and select ‘Bank Transfer’.
- Choose Pakistan as your country and select Allied Bank from the list of banks.
- Enter your Allied Bank account details.
Step 3: Withdraw Your FundsWith your accounts linked, withdrawing funds is easy:
- Go to the ‘Withdraw’ section in your Payoneer account.
- Select the amount you want to withdraw.
- Confirm the transaction.
Withdrawal Time and ChargesWhen it comes to withdrawal time, Payoneer typically processes transfers to Allied Bank within 2-5 business days. The charges for withdrawing funds can vary but usually range from $1 to $3 per transaction, which is a small price to pay compared to the convenience it offers.
My Experience with Payoneer and Allied Bank
When I first started using Payoneer, I had my reservations. I had heard mixed reviews, but I decided to give it a shot after my first client on Upwork paid me $500 for a project. The excitement of getting paid was overshadowed by the anxiety of how to access those funds. I remember sitting in my apartment in Lahore, nervously checking my Payoneer account every few hours to see if the money had been deposited. Once it was there, I followed the steps I outlined above and, to my relief, the funds reached my Allied Bank account within three business days. This experience was a turning point for me. I realized that with Payoneer, I could manage my freelance income effectively, and it opened doors for more opportunities. Since then, I’ve earned over $100,000 from various platforms, and Payoneer has been my reliable partner throughout this journey.## Practical Tips for Using Payoneer and Allied Bank
When it comes to using Payoneer and withdrawing to Allied Bank, here are some practical tips that I’ve learned over the years:1. Keep Your Documents Ready
- Ensure your identification documents are up to date for quicker verification.
2. Monitor Exchange Rates
- Payoneer offers competitive exchange rates, but it’s wiseto keep an eye on fluctuations. You might save a few extra PKR by withdrawing at the right time.
3. Use Payoneer for Multiple Platforms
- Since it integrates with various freelancing platforms, use Payoneer for all your payments to keep things organized.
4. Be Aware of Fees
- Understand the withdrawal charges and factor them into your project pricing. For example, if you’re earning $500, consider the $3 withdrawal fee when calculating your net earnings.
5. Stay Updated on Regulations
- Regularly check updates from the State Bank of Pakistan regarding foreign transactions. Rules can change, and it’s essential to stay informed.
Next Steps
If you haven’t started using Payoneer yet, I highly recommend you do. Here’s how to get started:**Sign Up for Payoneer:**Start by creating an account on their website.**Link Your Bank Account:**Follow the steps to link your Allied Bank account.**Start Freelancing:**Begin taking on projects from platforms like Upwork, Fiverr, orFreelancer.**Withdraw Your Earnings:**Once you receive payments, withdraw them to your Allied Bank account.
**Disclosure:**This article contains affiliate links. We may earn a commission at no extra cost to you.
Frequently Asked Questions
Does Payoneer work in Pakistan?
Payoneer works perfectly in Pakistan. You can receive payments from Fiverr, Upwork, and other platforms to Payoneer and transfer to your Pakistani bank.
Additionally, investing in your skills can also enhance your freelancing career. Platforms like Udemy offer a variety of courses that can help you learn new skills or refine existing ones. By enhancing your expertise, you can increase your earning potential on sites like Upwork and Fiverr. Explore the courses available on Udemy and see how they can take your freelancing career to the next level.
As freelancers, managing our finances effectively is crucial. That’s why I recommend using Wise for international transfers. It offers competitive rates, often around 0.5-1%, and ensures your money reaches you swiftly, typically within 1-3 days. This can be a game-changer when you’re withdrawing from Payoneer to your Allied Bank account.
How do I transfer from Payoneer to Pakistani bank?
What are Payoneer fees?
Payoneer charges about 2% for withdrawal to Pakistani banks. ATM withdrawal costs $3.15. Currency conversion has a 2% fee.