How to Transfer Funds From Your Credit or Debit Card to Payoneer in the Philippines

For small businesses, sole traders and virtual assistants, using a credit or debit card to fund your Payoneer account can appear to be a good method of keeping your business liquid – and although it’s not something you can do directly, there are indirect ways of making it happen. If it’s something you’ve thought about doing, this article will show you how it works, the available methods and alternatives, and also how to withdraw cash from Payoneer to your Philippines bank account.

Why use Payoneer in the Philippines?

Payoneer is an all-in-one cross-border payment solution, the ideal platform for making international business payments. It’s designed to facilitate virtual assistants, entrepreneurs and SMEs to make and receive secure business payments. It means that small businesses are able to pay remote workers and suppliers and to receive remittance from customers all over the world. Payoneer fees offer good value for money, in particular if you transfer between Payoneer accounts which are free, while Payoneer competitors tend to be more expensive.

If you’re wondering how to receive money or withdraw funds from Payoneer, the answer is straightforward. You can link your Philippines bank account to your Payoneer account and use it to draw your Payoneer cash out.

What about transferring money from a credit card to Payoneer?

If you’re going to use your Payoneer account to fund cross-border payments, you’ll need to add money to it, and one way of doing this is to indirectly send money from a credit card to Payoneer. Other ways include using a debit card, via bank transfer or from an eWallet. 

An example of how to send money from a credit card to Payoneer

There are several steps to adding money to your Payoneer account using a credit card. Unlike PayPal or GCash, users can’t directly add money to their Payoneer account via their credit or debit card. As a payment platform, it’s designed for users to get paid by customers everywhere –  so you can receive funds from clients, partner marketplaces or other Payoneer accounts. These funds, paid into local receiving accounts, can then be withdrawn to your bank account.

However, there will be times when you want to fund your Payoneer account in order to pay remote workers or suppliers abroad. If you want to add funds from either a credit or debit card, you’ll need to use a workaround to enable this to happen. One way is to issue a payment request or invoice to a third party who can then pay in the money using a credit card. Alternatively, you could set up your Payoneer account to receive funds from platforms such as PayPal or Skrill and use these as a way of moving money into your Payoneer account.

One way of ensuring you can send money from a credit card to Payoneer is to move that money into a bank account and then transfer it across to Payoneer using a bank transfer.

Here’s an example of what you would do if you had a bank account with, say, BDO Unibank. The steps are as follows:

• Transfer the money you want to send to Payoneer into your BDO Unibank account.
• Once the transfer has cleared and the money is available to you, open your Payoneer account and log in.
• Select ‘Add funds’, then ‘I want to add funds’, followed by ‘Get started’.
• Provide details requested for verification and wait for approval, which may take two to three days.
• Once approved, you’ll be able to add funds to your Payoneer account – so now you are ready to make the bank transfer.