Transferring money from one account to another might be challenging, but it’s essential if you need to pay bills or transfer funds between accounts. Many people choose online accounts like Payoneer and Wise because they are more convenient. The question is how to transfer funds from Payoneer to Wise.
Why would we want to utilize Wise as an alternative to Payoneer?
Payoneer is a fantastic platform for managing your payout structure, and it has shown to be quite effective at making foreign payouts easier.
It may be the best option if you only have a few recurring payouts. However, what happens when your business grows and you begin to make hundreds, thousands, or even tens of thousands of monthly payouts in various currencies from all over the world.
How do you link your Payoneer and Wise accounts?
- Go to your Wise account and log in.
- Go to the ‘Settings’ page and then to ‘Linked Accounts.’
- Then, in the list of linked accounts, look for Payoneer and click the gear next to its name. This will take you to the payee details page, where you may begin connecting your accounts.
- On that screen, you’ll notice a field where you can enter your Payoneer login ID.
- Go to your Payoneer account and click on the ‘Settings’ page, then ‘API.’ A lengthy string value for ‘Master API key’ will be found at the bottom of that page. This whole string should be copied and pasted into the place supplied in your Wise account.
- Finally, check the box to indicate that you agree to wise terms and conditions for participating in this program, then click the ‘Save Changes’ button at the bottom of the page.
When transferring money from your Payoneer account to your Wise account, there are a few things to bear in mind. First, your Payoneer account and your Wise account must have the same account holder. You won’t be able to link the two separate accounts if they don’t match. The information is usually reviewed in three business days by Payoneer. They’ll send you an email after they’re done to let you know if the connection was approved.
What does this mean for my existing Payoneer account?
Your previous Payoneer payout structure will be converted to a Wise payout structure. This means that all existing payees will utilize the new payout structure, and new payees will also use the Wise payout system.
Wise is excited about this opportunity since they can now provide a single solution for all of our users’ payout needs: local bank transfers in any nation we cover, Payoneer bank transfers in every country they service, and Payoneer cash payouts in many countries, including the United States!
What if we don’t want our accounts to be linked?
There is never any pressure to switch, and you are always free to stay with your present payout system. Many people opt not to link their accounts since they already have a robust system to manage their payouts. On the other hand, Wise has a lot more features, such as superior customer service, faster payouts, and reduced costs.
Is linking the accounts safe?
Yes, linking your Wise account to your Payoneer or bank account is completely secure. We take every measure to keep these accounts safe and secure because they include personal and confidential information.
As you can see, connecting your Wise account to your Payoneer or bank account is a quick process that only takes a few minutes of your time. The good news is that setting up a bank account with Payoneer is simple. This should enable you to withdraw your hard-earned cash and spend it more quickly and easily. If you want to learn how to transfer money from Payoneer to Wise, follow these six simple steps. Just keep in mind that linking the accounts may take a few days.