Hello Everybody!
In this video, I want to show you something
which is very very very important for
any eBay drop shipper.
And this is how to connect your
Payoneer account to Paypal account.
First of all
what is Payoneer?
and why this is so important to connect your
Payoneer account to your Paypal account?
Payoneer is an online bank account
the same as Paypal and as many other different
online bank accounts and services.
But Payoneer has some very important benefits
which can help your dropshipping business.
Payoneer has a very low exchange rate.
It means that you can transfer your USD dollars
to any other currency, very cheaply because
the rates are very cheap.
The other thing is that
using Payoneer you can get
a credit card which you can use for payments
over all the internet.
You can pay using this credit card on AliExpress
or you can send money to your supplier directly
using the Payoneer account
and then you can save the fees which Paypal
are taking which are very very high.
The problem with this is that Paypal
and Payoneer are not working together
actually, there are competitors.
Payoneer doesn't have any problem
to allow you to connect their bank account to Paypal.
But Paypal doesn't allow this.
So how to work with it and how to do it right?
Because using 5 very simple steps,
you can connect your Paypal account
to your Payoneer account.
In this video,
I will show you how to do it right.
So let's see
The first thing is that you need to
log in to your Payoneer account
which you can create with the link under this video
you will get free fees for transferring money
from PayPal to Payoneer.
The default fees are around 1%
and if you log in using this link or register using this link
you will get free fees,
this is something which I requested from Payoneer
for our users, because Payoneer sits here in Israel
and they just gave me this link for you.
So, the first step will look something like this.
You will log in to your Payoneer account
and you will click on the receive button.
When you click the receive button
you will get this screen.
So on this screen, you click
on the "Global Payment Service"
after that, you click on this button
you will get this page.
Now, on this page
what we will have,
we will have this bank account by default.
First Century Bank
This bank account you can't connect to Paypal
because Paypal knows that this is Payoneer's account
and they will not let you to connect this account.
So what you need to do?
What you need, you need to contact Payoneer
and request them to assign you
Community Federal Savings Bank account.
They will give you this bank account within
one or two business days.
It's very very fast process and a very easy process.
Now, after you have this bank account of
Community Federal Savings Bank account
all what you need to do is to go to Paypal
and you will have this regular screen of Paypal
and click on "Get your money".
After you click the get your money button
you will have this screen.
Just scroll down and click
"Add a bank account"
After you click the add a bank account
you will be transferred to this page.
On this page, all what you need to do
is to copy the details of this bank
and put it on this page.
After you add to this page
you need to click first the link
U.S bank instead.
And then you need to add the details from this page.
And then your account will be connected.
Then you need to make the regular verify process
of a bank account on Paypal.
I'm sure that you already done it
for your credit card or for your bank account
the regular bank account
and then your account will be verified.
In some cases, they are doing some problems
when you connect the accounts
so all what you need to do
call Paypal and tell them,
Hey Paypal listen
I can't connect my account
It's my US bank account
they will ask you, why do you want to connect it!
Just tell them that it's your US bank account
and you want to transfer money from
Paypal to your bank account.
This is very very very comfortable,
they will allow you to do this
then using a very easy method, you can just make
Paypal to send money automatically
every month to your US bank account
which is Payoneer
and then you can pay to your suppliers,
pay to your employees to your VAs
and to everyone.
I hope that this tutorial will help you.
See you in the next videos!
Don't forget to subscribe to our Youtube channel and
leave a comment if you are using this method or not
and with any question about Payoneer, Paypal
or any drop shipping related question.
See you in the next videos.
Bye Bye!