Jamaica and other Caribbean countries are currently experiencing an increase in entrepreneurs seeking to do business online. This is all great but you also need to have an account that is based in the US in order to get paid. Another popular source for receiving payments is by cheque or through PayPal, none of which has been convenient.
To get your PayPal money you need to link your PayPal Account to a US based account (not a US account created by your local bank). And if you choose to receive payments by cheque, you have to wait a painfully long time for this cheque to arrive in the mail then for it to be cleared by your local bank.
So after having to have to face these obstacles, I finally discovered an online payments company called Payoneer that solves all of our problems.
“Founded in 2005, Payoneer is an industry-leading global payments company accelerating growth for its customers by improving the way they manage and pay partners, affiliates and independent workers in more than 200 countries worldwide. Payoneer provides a simple, secure, compliant and cost-effective way for companies of all sizes to offer superior and cost-saving payments options including prepaid cards, deposits to local banks worldwide and global wire transfers. Payoneer works together with our issuing banks to market, manage, and service prepaid debit MasterCard® cards.”
When you sign up with Payoneer, what they do is send you a Debit Master card free of cost and create a chequing account for you with Bank Of America. Now that you have an account with a bank that is based in America, you can link that account to PayPal and easily transfer your money from PayPal to Payoneer and withdraw that money from your Payoneer account from anywhere you are in the world using your Payoneer Debit card.
Your Payoneer chequing account also allows you to easily accept payments from countless number of online companies in which you might end up doing business.
All the great services that Payoneer offers come at a good price of US 29.95 annually. This yearly fee is only charged to your account when you have the money available in the account. This means that you can sign up for an account and get sent a Payoneer debit card without paying a dime.
If you think this service might be for you, this is a great time to sign up as Payoneer is running a “GREAT” promotion for first time members. All you have to do is sign up for an account and Payoneer will give you US $25, just follow this link to get started. Who can turn down free money?
If this service worked great for you, do feel free to leave a comment below.