You can easily withdraw cash from your Payoneer Debit card at any ATM machine. This card works just like any other ATM or Debit Card. I am using Payoneer Card from last 04 years for online shopping and payments. I got this card through Infolinks. You can also get your own Free Payoneer Prepaid Debit Card with 25$ bonus at the time of first money load.
Until few days ago, I was using this card for online shopping only and never withdraw money at ATM Machine. Last week I decided to get cash from my Payoneer account by using ATM Machine to experience process, currency conversion rate and fees applied by either Payoneer or Master Card or local bank. I went to a MCB ATM Machine and successfully withdrawn money without any hassle.
How to Withdraw Money from Payoneer Card at ATM Machine?
The Payoneer card can be used at ATMs where MasterCard®/Visa is accepted. Your Payoneer card is prepaid debit card. Sufficient funds must be available prior to making cash withdrawal. Never try to withdraw money more than available funds; otherwise your ATM card may be kept/ seized by ATM.
Here is a simple step by step procedure to use your Payoneer Card to withdraw cash from ATM Machine in Pakistan.
- Visit any nearby ATM Machine.
- Insert your card in ATM card slot, your name will be shown on screen.
- Enter your 04 digit code using ATM keypad, this code was created at the time of card activation.
- Enter amount in Pak Rupees in multiples of Rs.500 e.g. 500, 1000, 2000, 2500, 4500, 5000, 6500 etc. and press "Accept" button.
- In next step you will be asked for "Account Type", enter Current, Checking, Default or Debit Card whichever is available.
- Take your card, money and receipt.
Fees and Charges for ATM Cash Withdrawal
- Never check your balance unnecessarily at ATMs because each time you check balance, 0.90$ will be deducted.
- $0.90 will also be applied as ATM decline fee, if your Payoneer account has less money than you are trying to withdraw.
- $2.15 per transaction, plus 3% above all fees assessed by MasterCard, will be charged.
- MCB Bank also charges Rs. 100 as Bank Fee in addition to all other fees.
I withdran Rs. 4500 and amount deducted from my Payoneer account was $50.87 when inter bank dollar rate was about 99.5 rupees. So total fees/ charges was about Rs. 500.