Why Link Payoneer and Skrill?
Linking your Payoneer account with Skrill will simplify the way you handle your finances for good, as you’ll be able to transfer funds between these two most popular platforms easily. Below is a comprehensive guide to help you through the process along with details concerning Stripe and its best alternatives.
What Is a Payoneer Account?
A Payoneer account is a type of financial services account used by people and businesses to send and receive cross-border money. Put differently, Payoneer offers an online platform for money transfers and digital payment processing, hence simplifying cross-border transactions. This especially appeals to freelancers, online sellers, and businesses working globally.
Users can get paid to a Payoneer account by companies and marketplaces, log into their accounts, withdraw funds to their local bank accounts, and make purchases with a Payoneer prepaid Mastercard. With it, multi-currency accounts are at one’s disposal for holding, receiving, and sending payments in as many diverse currencies as one needs.
What is Stripe?
Stripe is an online payment processing platform developed to help businesses of any size in accepting, managing revenue, and handling transactions safely. Stripe supports a large variety of payment methods available with credit cards, debit cards, and mobile wallets by providing a robust API that developers can integrate into websites and applications to handle transactions.
Stripe has made its name by providing developer-friendly tools that have a wide global reach and tight security measures, making it a go-to choice for commerce businesses, SaaS companies, and subscription-based services.
Link Your Payoneer Account To Skrill: A Step-by-Step Guide
Step 1: Create and Verify Accounts
Before linking Payoneer and Skrill, ensure that you have active and verified accounts on both platforms.
- Create a Payoneer Account:
- Visit the Payoneer website and sign up by providing the necessary personal information.
- Complete the verification process by submitting the required documents (e.g., ID, proof of address).
- Create a Skrill Account:
- Go to the Skrill website and register by entering your details.
- Verify your identity and account by uploading the necessary documents.
Having verified accounts is crucial, as it allows you to link and transfer funds between them securely.
Step 2: Add Payoneer Bank Account to Skrill
To link Payoneer to Skrill, you’ll need to add your Payoneer bank account details to Skrill.
- Log in to Skrill:
- Access your Skrill account via the website or mobile app.
- Navigate to ‘Bank Accounts and Cards’:
- Go to the “Settings” or “Account” section of Skrill.
- Click on “Bank Accounts and Cards” to manage your linked accounts.
- Add a New Bank Account:
- Click on “Add Bank Account.”
- Enter your Payoneer bank account details, including the account number, bank name, and routing number.
- Ensure the information matches your Payoneer account to avoid errors.
- Confirm and Save:
- Review the entered details and click “Save.”
- Skrill may request a small verification deposit to confirm the account ownership. Follow the instructions provided.
Step 3: Verify Bank Account (if required)
Some users may need to verify their Payoneer bank account on Skrill. If you receive a small deposit from Skrill:
- Check your Payoneer Account:
- Log in to your Payoneer account and check for the deposit amount.
- Enter the Verification Code:
- Go back to Skrill and enter the deposit amount or verification code to confirm the account linkage.
Step 4: Transfer Funds from Skrill to Payoneer
Once your Payoneer bank account is linked to Skrill, you can transfer funds.
- Initiate a Transfer:
- In Skrill, go to the “Withdraw” section and select your Payoneer bank account.
- Enter the Transfer Amount:
- Specify the amount you wish to transfer from Skrill to Payoneer.
- Confirm and Submit:
- Review the transfer details, including any fees associated with the transaction.
- Confirm the transaction, and the funds should arrive in your Payoneer account within a few business days.
How You Will Get Benefited by Using a Payoneer Account
Access to Global Markets:
- Benefit: Payoneer allows you to accept payments from over 200 countries and territories, making it easier to work with international clients and partners.
- How It Helps You: If you are a freelancer, e-commerce seller, or business, you can expand your reach and accept payments from global customers or clients without hassle.
Lower Transaction Fees:
- Benefit: Payoneer offers competitive fees compared to traditional banking methods, especially for cross-border transactions.
- How It Helps You: By saving on transaction fees, more of your earnings stay with you, improving your profitability.
Faster Payments:
- Benefit: Payoneer processes payments faster than traditional bank transfers, especially for international transactions.
- How It Helps You: Quick access to funds can be critical for managing cash flow, allowing you to reinvest in your business or meet personal financial needs without delay.
Flexible Payment Options:
- Benefit: Payoneer provides multiple ways to access your funds, including bank transfers, prepaid Mastercard, and direct payments.
- How It Helps You: You can choose the most convenient and cost-effective way to receive and use your money, whether it’s for business expenses or personal use.
Easy Integration with Marketplaces:
- Benefit: Payoneer seamlessly integrates with popular marketplaces like Amazon, Upwork, Fiverr, and others.
- How It Helps You: If you sell products or services online, you can easily manage and consolidate your payments from various platforms in one place, simplifying your financial management.
Multi-Currency Support:
- Benefit: With Payoneer, you can hold and manage multiple currencies in your account.
- How It Helps You: Avoid conversion fees by holding funds in the currency of your choice and convert them only when necessary, giving you control over your money.
Reliable and Secure Platform:
- Benefit: Payoneer is a trusted and secure platform with strong security measures, including two-factor authentication and encryption.
- How It Helps You: Your money and personal information are protected, giving you peace of mind when conducting transactions.
Streamlined Cross-Border Payments:
- Benefit: Payoneer simplifies the process of sending and receiving cross-border payments, eliminating the complexities of international banking.
- How It Helps You: You can efficiently manage international transactions, making it easier to pay suppliers, employees, or receive payments from clients around the world.
Prepaid Mastercard Access:
- Benefit: Payoneer offers a prepaid Mastercard that can be used for online and offline purchases, as well as ATM withdrawals.
- How It Helps You: You can access your funds directly and use them as needed, without the need to transfer money to another account.
Payment Request Feature:
- Benefit: Payoneer allows you to send payment requests to clients or customers.
- How It Helps You: Easily invoice and collect payments, streamlining your payment process and ensuring timely compensation for your services or products.
In Summary: A Payoneer account offers numerous benefits for anyone involved in international transactions. Whether you’re a freelancer, online seller, or a global business, Payoneer provides a flexible, cost-effective, and secure way to manage your payments. By utilizing Payoneer’s services, you can access global markets, reduce transaction costs, receive payments faster, and streamline your financial operations, ultimately making your business more efficient and profitable.