Today’s freelancers have loads of options open to them when it comes to online payments. Besides Paypal, wire transfers, Skrill, World Remit and more, Kenyan freelancers can also get paid via Payoneer. Why do I think that the Payoneer MasterCard is a must have for Kenyan freelancers? Read on.
What Is The Payoneer MasterCard?
The Payoneer MasterCard is a payment option which supports online payments as well as a physical card. It allows people in over 200 countries to open US bank accounts (the Payoneer Global Payment Service). This account is accessible online and can be used for all payment and withdrawal options.
Once you sign up and apply for a Payoneer Mastercard, which is free including shipping, you can have an all-round bank account operated from your PC or Smartphone. You can receive money through the Card or [US] account number which is provided after signing up.
Accessing the virtual bank account is as easy as logging into your Facebook account using your email address and password. Once logged in, you can see your balance, transactions, card number and everything else you’re used to doing with a physical bank account
Benefits Of The Payoneer Mastercard
- This card was so good that it once allowed Kenyan users to link their PayPal accounts and transfer funds to and from there! However, the service was terminated three years ago due to reasons unknown to me. To say the least, their marriage had been very beneficial to freelancers. However, life had to move on after the divorce.
- It is accepted on major freelancing websites such as Upwork.com, People per Hour and Fiverr. Forex traders also use the Payoneer Mastercard to access their earnings as do affiliate marketers such as Amazon Associates.
- Remember I said that you’re provided with a US bank account. As such, your clients can send you money via wire transfer (from bank to bank). This is not limited to the US only as over 100 countries can send money directly to US bank accounts.
- Once the free Payoneer MasterCard (not VISA) is sent to you (takes about 1 month to arrive), you can enjoy all Card services. One, you can use the card to make online payments such as shopping or buying software. Two, you can use the card to verify online wallet accounts such as Skrill Moneybookers. This article will guide you on how to verify a PayPal account.
- The juiciest part about the card is easy withdrawals. Once you receive and activate it, you can use it to withdraw your money from any MasterCard-branded ATM all over the world. You simply follow the normal withdrawal procedure: insert card, key in PIN, select amount, withdraw and voila! You’ve got your money.
- Additionally, if you would like to receive your money in physical dollars, this card will make it a reality for you. Since the account is based in the US, it is a Dollar Account. As such, if you access an ATM that dispenses dollars, just select the currency and amount then withdraw. If you’re in Japan, it will give you cash in the Yen currency. Talk of convenience.
- The convenience of the Payoneer Mastercard does not stop there. If you are the impatient kind or if you need your money as soon as it is sent to you, then you can cut the waiting time from 2-3 days down to just 2 hours, for just an additional $2.5.
Payoneer Mastercard Fees
The card will deduct a one-off $30 from your earnings. It will cost you only $3.15 per ATM withdrawal. To some, this might seem a lot, but if you go the traditional way of sending money from, say, Upwork to PayPal then from PayPal to Equity then a bank of your choice, then ATM withdrawal, it will cost you more than the $3.15.
Declined withdrawal charges are $1
Bonus Points For The Payoneer Mastercard
The advantages of this card never seem to run out. As I sum up my experience, I want to show you how you can make money using the Payoneer MasterCard. If you apply for the Card using the link I will share with you, they will pay both of us $25. You’ll receive $25 and I will get the same.
To get this bonus, you have to sign up for the card and transact at least $100 using the card. This can be a one-time payment or accumulative (several payments that will add up to $100). Once you get paid $100 via your card, you and I will both get $50.
I hope you can now see why I believe the Payoneer Mastercard is a must have for Kenyan freelancers!