When it comes to withdrawing money earned form Blogging or Affiliate marketing, then PayPal and Payoneer are most used payment processors to send money globally with ease. All companies are using these payment processing systems to send funds or payments to their publishers/employees globally.
Here in this post, we are gonna review the Payoneer services for India and how it helps thousands of affiliate marketers, bloggers, freelancers, digital entrepreneurs to receive cross-border payments easily.
Payoneer only helps in withdrawing funds in local currency but also offers you, individual; business virtual bank account for most of the countries like U.S.A, Australia, Europe, U.K, etc. so you can tell your, clients, to send you money locally in your virtual bank account and that money deposited automatically gets transfer to your Indian bank account in local currency.
Payoneer Global Bank Transfer India
Indian bloggers and freelancers use Paypal as it is most command and widely spread. Earlier in 2011 Payoneer master card was also being used in India to withdraw freelancing payments but RBI (Reserve bank of India) stopped Payoneer from continuing its services in India and later on in 2013 Payoneer again resumed its services by allowing Global Bank transfer (GBT) legally in India with better innovative Idea.
Now coming to the point, Indian publishers, Bloggers, Affiliate marketers, Freelancers earn online and to withdraw payments they use Paypal as Wire transfer is costly, and checks need a lot of time to reach.
However many companies have also enabled Direct Bank transfer service for Indian users which is an easy and better than all the payment processing systems.
Getting Paid through PayPal
PayPal is the most accepted way to get your hard earned money into your bank account. As per the RBI guidelines, Indian users can not shop online with Paypal balance, they can only withdraw it. Here are some of the Pros and Cons of Paypal for Indian Publishers.
Pros of Paypal for Indian Users:
- Easy to manage without any limitations
- Users can shop online using their credit card with Paypal
- No Fees on mass payments received
- Email invoicing and web front system to collect payment.
- Telephonic Support + superior email support
- Stronger Security.
- Dollar to INR convert rates is lower as compared to the actual rate going on.
- Paypal takes 3-5 working days to get funds transfers in the bank account
- You will get a low conversion rate but no fees would be detected.
- Paypal account can get limited anytime if even one Un-ethical practice found by their automatic system.
Now coming to the conclusion, Paypal is one of the best, but only disadvantages are that conversion rates are not good as compared to Payoneer. So you will receive slightly fewer funds in Paypal as compared to Payoneer GBT Service and now let's see benefits of using Payoneer in India.
Using Payoneer Global bank transfer to receive funds in India
Payoneer helps you to reduce your payment fees by 42% and collect freelance or blogging income directly to your Indian bank account in INR currency.
Most companies which are paying with Paypal also have Payoneer as their payment method. For Example, a freelancer can get paid through Elance or Odesk using Payoneer in India or a Blogger can get paid by Infolinks or CPALEAD or etc.. through Payoneer instead of Paypal.
For other Countries where Payoneer prepaid MasterCard is allowed, One can directly withdraw from the Payoneer prepaid debit card but Payoner also has its own Global Bank Transfer service which enables you to receive funds directly in your bank account in local currency easily.
How does the Payoneer Global Bank Transfer Works?
It takes 2-3 Days initially to get your account activated. Once you have your funding sources in Payoneer, It will get automatically withdrawn to your account same day.
Pros of Payoneer GBT in India:
- Better convert Rates then Paypal (The best)
- Automatically funds get withdraw to your bank account instantly when they are received.
- Money gets reflected in the bank account same day or next. (Paypal takes 3-5 days)
- Much easier to manage and hassle-free.
- Superb Support for Phone, Email, and Community.
- You can't send payments to your friends from your Payoneer account.
- The bank account can not be changed directly, you will need to contact support for editing Bank account.
Exclusive Offer: You will Get free $25 ion your Payoneer account once you start receiving payments.
Payoneer & Affiliate Marketing (Perfect payment setup)
If you are an affiliate marketer and want to get paid faster with better forex conversions rates, then it is the best decision to switch to Payoneer now. Almost all Affiliate Marketing companies like peerFly, ShareaSale, CJ, MaxBounty, ClickDealer, CPALead, etc, etc. have Payoneer integrated with them. One can instantly connect their Payoneer local bank transfer account to get paid faster.
However, if you are working with a company or CPA Network which does not have Payoneer or PayPal as their payment options and only pays via Wire or ACH direct deposit in the U.S or other countries, then you may use Payoneer bank account details and get paid to your local bank account via them.
I am also a blogger and Affiliate marker, since two years I was using Paypal and I am still using it as without PayPal blogging is incomplete But I have opted Payoneer in some companies over Paypal as they are fast and rates are reasonable.
Money always matters.. and who don't want to get more money😜😜
Try Payoneer for Withdrawing Funds as it deposits the money in the same day, so you receive till evening or next business day.
I am excited to hear your views on PayPal and Payoneer and what experience you have with both. Share with us in the comments section below.