Using Payoneer to Receive Amazon Seller Payment with International Payments

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Using Payoneer to Receive Amazon Seller Payment with International Payments

It’s great news to millions of Amazon sellers that they now have a convenient, cheaper, fast and secure payment option to receive their Amazon disbursements. In the past, sellers had to put up with two hard options- check withdrawals or bank transfers which weren’t friendly options to everyone. International sellers- and even buyers-felt locked out. The entry of Payoneer was like a breath of fresh air. Within Amazon Seller Central, Payoneer sets itself apart as the most suitable payment option and the reasons are really compelling. Take a look.

Low/competitive fees

Years ago, getting your hands on your enticing Amazon sales meant that you either had to have a US bank account or endure a fatiguing cheque system. Of course US citizens could make direct electronic deposits but non-US citizens were left to use a cheque system which besides taking weeks- sometimes even months- to reach you, carried insane fees to cash out. Worse, some countries would never accept your cheque.

Payoneer lets you withdraw from Amazon to your Payoneer MasterCard or local bank. You will be charged a fee of $1 for any withdrawal made to your card and zero fee when you transfer to your local bank account. Your local bank may charge you an exchange fee though. $200 is the minimum amount you can withdraw to your local bank account while the maximum amount has been set at $10000. Bear in mind the process is fast and lets you access your money easily anywhere.

Easy to manage

Registering for a Payoneer account takes minutes (Check the steps below).Ensure you apply for a Payoneer MasterCard as well. Delivery will be made within weeks straight to where you are. Verify it soon as you pick it up and thereafter, link it to a US virtual bank which is actually no different from a standard US bank. Linking the two entitles you to being an owner of a valid US Bank account.

What remains is simple. Link your Payoneer account to Amazon. Disbursements will jet straight into your Payoneer account or if you wish, you can withdraw straight into your payoneer mastercard. No administrative hassles and lengthy payment processes lasting from Monday to Monday.

Not to mention you can use your Card to shop in online stores- and even offline- in shopping centers such as supermarkets.

Get Paid in your Local Currency

Are you looking at your Payoneer balance and wondering how to magically turn it into your local currency? Well, you don’t even need magic, Payoneer has you covered. You can transfer your money from Payoneer to your local bank account in well over 150 countries and currencies, from USD to GBP to Euros to Japanese Yen to CHY and dozens of other currencies, which you can see by clicking here.

How to set up a Payoneer Account

Setting up a Payoneer account is easy and should take under 3 minutes.

Requirements

You will require any of the following to proceed with the sign-up process:

  • National ID Card

  • Driving License

  • International Passport

You will also need a postal code, shipping address and zip.

Sign-up process

Step 1: Follow this link (Sign up ) which will take you to the sign-up page. On the first page you will submit your personal details which include:

  • First name

  • Last name,

  • Email Address

  • Date of birth (It should be the date on the attached valid documents)

Step 2: Click next and you’ll be taken to the second page where you will fill out your contact details and thereafter the security details. Ensure you give correct shipping details because that’s where your Payoneer MasterCard will be shipped to.

Step 3: Next, read the terms and conditions, and if you agree with them, proceed to click “Order”. Now sit ready to receive your Payoneer MasterCard in the next couple of weeks.

Step 4: In 2-3 days, you will receive an email from Payoneer informing you that your Payoneer MasterCard Application has been received and now you have to supply them with scanned copies of your National ID, Passport or Driving License. Ensure you do so.

Step 5: Within a week, you will receive another email that your request has been approved and your registration was successful. From there on, you will be able to log-in to your Payoneer account. You will also be supplied with your US payment service details.

Step 6: Your Payoneer MasterCard will be shipped to you within 2-3 weeks. Once you receive it, simply log-in to your Payoneer account, click “My Account” then ”Activate Card”. Provide your Card number and the four digit pin you will use to secure your card and make withdrawals from ATM.

Viola! Your Payoneer account and MasterCard are now ready for transactions.

Steps to Linking Your Payoneer Account with Amazon

Step 1: Log into your Amazon Seller Account and at the top, on your right, click “Settings”. Follow the drop down menu and select “Account Info”.

Step 2: At the center of your screen you’ll see another option titled “Payment information”. Click it. Head straight to “Deposit Methods” and click “Add”. You will have to select your location from a drop down list.

Step 3: Two options will show up: one for users who haven’t registered for a Payoneer account yet and another for existing Payoneer account holders. Assuming that you are now a registered user, proceed to select that option.

Step 4: Visit your Payoneer Account to collect your US payment service details which can be found in the “Receive” menu under “Global Payment Service”. You will need to record the details because you will have to feed them your Amazon Deposit Section.

Step 5: Ensure you select “United States” as your country location since that’s where your Virtual Bank account is based. Fill in rest of the details as shown in your Payoneer account and finally, Submit.

Your account is now ready to receive disbursements from Amazon. Just log into your Amazon Seller Account, click “withdraw”, select “To Bank Account” and be sure to pick Payoneer.