Withdrawing from PayPal to Payoneer is not an easy feat, especially if you’re from PayPal-limited countries like Nigeria.
However, there are methods that have been proven to work when it comes to transferring money between a PayPal account and a Payoneer account.
If you’re looking for ideas on how to withdraw directly from PayPal to Naira without limit, check out my PayPal to Naira article.
Some methods are straightforward, while others are complicated and may result in the loss of part of your funds.
Nowadays, Payoneer is now used for facilitating payments for global trade, just like PayPal, and its adoption and usage is growing by the day.
In this post, we’ll look at several ways to transfer your funds right from your PayPal account and straight to your Payoneer account for use in trades and online business.
Let’s get started.
Linking your PayPal Account to Payoneer
PayPal withdrawal requires you to link a bank account from a country where PayPal bank withdrawal is enabled.
If you are in Nigeria, you would know that it is not possible to withdraw from PayPal to your Nigerian bank account.
So, what we do is look for a proxy bank account and link that with the PayPal account.
Payoneer offers a proxy U.S. bank account for global payment service, and it was possible to add the U.S bank account provided by Payoneer to your PayPal account and facilitate withdrawals directly from PayPal to Payoneer.
However, that channel has been closed, as PayPal has flagged the Payoneer proxy account due to all the accounts having the same address. PayPal wants a unique address for each bank account provided on its platform.
Convert PayPal to Bitcoin
It is now possible to buy Bitcoin with PayPal, but this channel is possible for select customers in select countries.
For example, U.S customers can now buy, hold, and sell Cryptocurrency such as Bitcoin, right from their PayPal accounts. This is also currently being rolled out for UK PayPal users.
To enjoy this opportunity, you have to open and verify a U.S PayPal account.
You could either get a family or friend to help you verify one or pay someone on freelancing sites like Fiverr to help you verify a U.S. PayPal account. This could set you back by $100 or more.
Once you have a verified and functional U.S. PayPal account, you can easily buy Bitcoin with your balance and convert that Bitcoin to Payoneer or other Wallet currencies. You could also just withdraw it directly into your bank account.
PayPal to Payoneer Transfer via Steam
You could create and verify a PayPal account from any country and then use the balance to purchase Steam gift cards. This is one of the fastest ways to cash out from Paypal.
The Steam gift cards could easily be converted to cash in your bank account or Payoneer via any of the crypto exchanges such as Paxful.
PayPal to Payoneer Transfer via Marketplaces
This is obviously a backdoor strategy that can make you lose almost 25% of your PayPal funds, but it works.
When the worse comes to worst, and you just want to get your funds out of PayPal ASAP, then you can use this method.
Freelance marketplaces like Fiverr and Upwork accept PayPal as a payment method. So, you could just find someone on any of these platforms to sell you a service and get paid via PayPal.
So, here’s how it works.
Let’s say the Seller offers a service for $1000 on upwork or Fiverr. You then pay for this service using your PayPal account.
The platform takes a 5% commission from you, the buyer and 20% commission from the seller. Then the seller gets paid the remaining 75% which is $750.
He withdraws via Payoneer and then transfers the money to your Payoneer or your bank account.
Note that we didn’t put into consideration the fees charged by the seller for helping you get the money out.
If the seller charges you $100 for that service, you’ll end up receiving $650 after everything.
Paypal to Payoneer Transfer via Review Services
Still on the freelance marketplaces idea. Many freelancers are looking for honest reviews on their services on Fiverr and Upwork.
You can start offering review services by purchasing their services and rating it according to the quality delivered.
It works in a way that you purchase their lowest service on a freelance marketplace, and then give a review on the quality of service delivered.
Usually, due to the value added, there would be an agreement between you and the seller to pay back the money spent, plus a bonus.
If you spent $5 on the purchase, you would be paid back something like $8 in Payoneer or bank transfer. If you spent $10, you would be paid something like $15, etc.
All you have to do is purchase the service using your PayPal funds, and you get paid back in return via Payoneer or bank transfer.
In this case, you wouldn’t lose the 25% like you would if you agreed to purchase a bulk service and get someone to withdraw the funds for you via a marketplace.
In the case of review services, you would be dealing with small purchases from many freelancers, and the process to get your money from PayPal to Payoneer is a lot slower.