PayPal Suspends addition of Virtual Accounts
In my article Paypal to Payoneer I explained how you can withdraw money from PayPal to Payoneer and eventually get your cash through Payoneer Debit Card. I recently discovered that PayPal no longer accept Bank of America as a bank account.
It all started when a person who had read the aforementioned article inboxed me explaining that he was having trouble linking these two accounts. I immediately twitted the error message linking it to @AskPayPal.
I sent the customer service a direct message as requested and here is the conversation that ensued:
So there you have it, you can no longer use U.S. virtual account to link your Payoneer card and PayPal. Nevertheless, the people who had already added Bank of America as a bank accounts in their PayPal profile are not affected by this change. Such people can continue enjoying PayPal to Payoneer withdrawal.
If PayPal does not operate in your country, then this means that you’ll have to go through a fair amount of trouble to facilitate a withdrawal. For instance in Kenya, you only have two options namely:
1. Equity Withdrawal: Which offers the best rates but it takes up to eight days to receive your money.
2. Sell to interested friends: Actually this is what most people do. Once you receive your PayPal payments, you may send it to a friend who in turn may pay you at your agreed rate.
As it stands, I’m still finding the best possible way to help you guys. I’ll talk to Payoneer and let you know what they say.
Payoneer is a U.S. company that partners with a group of freelance and e-commerce sites to provide easy trnasfer of money. The company has a debit card that allows its users to withdraw their money in their respective countries from any mastercard supported ATM.