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.
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
Payoneer comes 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 Account If 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 Bank Linking 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 Funds With 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 Charges When 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
The excitement of getting paid was overshadowed by the anxiety of how to access those funds.
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 wise to 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
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 UdemyAd and see how they can take your freelancing career to the next level.
As freelancers, managing our finances effectively is crucial.
What are Payoneer fees?
Payoneer charges about 2% for withdrawal to Pakistani banks. ATM withdrawal costs $3.15. Currency conversion has a 2% fee.