RT Cunningham


Payoneer is Another Way for Expats from America to Get their Money

Payoneer You can receive United States dollars with a Payoneer account. You can also get a debit card for spending that money in United States dollars.

I put it off for years but I now have a Payoneer account attached to my UnionBank of the Philippines (UBP) account. (My PayPal account is already attached to it.) I didn’t have much of choice, as I’ll explain.

My Latest Google AdSense Issue

Had I thought about Payoneer when it happened, it wouldn’t have been an issue. I had my AdSense payments going to the same account as the direct deposit payments for my military pension, Philippine National Bank (PNB). It’s a dollar account. Something happened during the automated transaction about a month ago and the payment failed to reach the bank. Consequently, Google removed that bank account as a payment method (I don’t know why they didn’t just resubmit the transaction).

Google changed the way they verify bank accounts. You have to verify a micro payment (less than one US dollar). That branch of PNB treats all incoming dollar payments as remittances, with a $7.00 fee. It won’t process micro payments (I know, because I tried). So… I can no longer use my PNB dollar account to receive AdSense payments.

I couldn’t connect PayPal to it before this because PayPal uses the same method. My last AdSense payment was in limbo until I changed the bank to my son’s bank (in the US) and he sent it to me through Western Union. Believe it or not, the Western Union fee was less than $7.00 (though I don’t remember the exact amount).

Payoneer to the Rescue!

I applied for a Payoneer account today (late enough to be Sunday in the United States as well as the Philippines). They approved me within an hour. Then I applied for a debit card through them. They approved me for the card within another hour.

I plugged the account information Payoneer provides for United States dollars into my AdSense account and now I’m just waiting for the micro payment. If something goes wrong, I’ll add an update to this article.

Okay, so I won’t be able to actually withdraw United States dollars from my UBP bank account (like I can with PNB). The dollars convert to pesos when they’re moved from Payoneer to UBP. It won’t be an issue unless the foreign currency exchange rate isn’t good.

Payoneer and Direct Deposit?

I’ll have to wait and see what the foreign currency exchange rate is when I move my first AdSense payment to UBP. If it’s comparable to the published international rate, I may consider moving my direct deposit to Payoneer. Why would I do such a thing?

I don’t really need a United States dollar bank account. I set it up when I moved here in 2006 because I moved around $100K from the bank account I had in the United States. (It’s what I made when I sold my house).

If I move my direct deposit to Payoneer, I can connect it to any local bank and withdraw that money in pesos. It’s a real pain going to PNB every month, withdrawing the dollars and then changing them to pesos before doing everything else I need to do on paydays.

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By RT Cunningham
October 30, 2016
Personal Finance