Earlier, we told about how to set up payments from Amazon to your Payoneer card. But just recently it became known that the Payoneer system and a well-known Ukrainian bank jointly developed the solution on to withdraw funds directly to a bank account.
Money from Payoneer cards, that are used by Ukrainian Amazon sellers to receive payments for goods, can now be withdrawn directly to PrivatBank accounts, including card ones. Payoneer informed its customers about this in individual emails with a proposal to indicate their PrivatBank account, to which the withdrawal of funds will be carried out. The bank confirmed service start-up.
This service is not free:
Money to Ukrainian accounts is credited in the national currency (UAH). Conversion, according to Payoneer fees, is based on the average market rate. Conversion fee is 2% of the convertible amount. There is also a minimum withdrawal amount of $200.
PrivatBank has not set a commission for crediting funds yet.
Cash withdrawal from a Ukrainian bank card will cost 1% of the amount when using the «Universal» card and without commission when withdrawing from a card for payments or when paying with a card in stores.
Whether to use this service to receive money earned from selling goods on the Ukrainian card are up to sellers themselves. Definitely, this service will be useful to those who need to cash out their earnings, for example, to settle accounts with material suppliers.
There is a step-by-step instruction on our website on how to register a card on Payoneer.
We also remind you that the tax burden from activities on Amazon remains under the control of the sellers themselves.