In Argentina, you can withdraw money from Payoneer to a bank account in U.S. dollars or Argentine pesos. The base cost of withdrawing is 2%, but the total cost can reach 5% depending on the method you choose, including the $3.15 ATM withdrawal fee or the currency conversion cost. Wallbit lets you receive your Payoneer funds at $0 cost and manage them in U.S. dollars to pay and invest globally, or withdraw pesos to your local account whenever you need them.
Key takeaways
- Payoneer lets you withdraw funds directly to Argentine bank accounts in both U.S. dollars and Argentine pesos.
- Fees vary depending on the withdrawal method and can range from 2% to 5%.
- Wallbit lets you receive U.S. dollars from Payoneer into a global account at $0 and then withdraw them in pesos or U.S. dollars in Argentina.
How do I withdraw funds from Payoneer?
Payoneer offers several ways to withdraw your available balance from Argentina. The most straightforward option is to transfer the funds to a bank account in your own name.
To withdraw money to an Argentine bank account:
- Log in to your Payoneer account.
- Select Withdraw and Convert.
- Choose Withdraw funds to my bank.
- Select a linked bank account or add a new one.
- Choose the balance and amount you want to withdraw.
- Review the fee, exchange rate, and final amount.
- Confirm the transfer.
Can I withdraw pesos from Payoneer in Argentina?
Yes. Payoneer allows you to transfer funds directly to an Argentine bank account in Argentine pesos (ARS). You simply need to link your bank account's CBU, wait for approval, and complete the withdrawal.
The main drawback is that Payoneer applies a mandatory currency conversion using the official wholesale exchange rate. Due to its 2% fee and the conversion margin applied by the platform, the total withdrawal cost can reach 2% + 0.75% for the currency conversion.
Withdrawals can take approximately 48 to 72 hours to settle. To use this option, you need to set up an ARS bank account within Payoneer.
Can I withdraw U.S. dollars from Payoneer in Argentina?
Yes. Users can withdraw Payoneer funds in USD to their own Santander Bank savings account in Argentina, with a 3.3% fee. The funds are subject to any requirements and documentation requested by the bank.
Alternatively, you can receive your Payoneer funds in your Wallbit account. Wallbit does not charge for deposits of any kind. From there, you can make a USD withdrawal from Wallbit to Santander or to any other bank in Argentina via a SWIFT transfer.
In both cases, the final fee for the entire transaction is 1%. You can issue an invoice E as a service exporter and keep your dollars in your bank account while complying with current regulations.
How much does it cost to receive Payoneer dollars in my bank account?
We compared different withdrawal options and their costs:
The best option depends on whether you want to keep your dollars in a local bank account (Wallbit, Santander) or convert them immediately at the exchange rate used by the platform (Wallbit, CCL; Bitso, Prex, or Belo; MEP dollar).
When you receive funds in your Wallbit account, you can keep them in U.S. dollars, earn USD returns, invest in U.S. assets, or make international purchases. You can later withdraw ARS to a local bank account using a CBU or CVU, or send them to a USD savings account in Argentina in your name via SWIFT.
How do I receive my Payoneer balance in Wallbit?
Yes. Wallbit accepts USD deposits from Payoneer and other digital platforms at no cost. You can use the details of your Wallbit U.S. account to request a withdrawal from Payoneer.
You can also receive payments directly into Wallbit without going through Payoneer. Check the comparison between both options to see how much you could save.
The process is:
- Log in to Wallbit and view your U.S. account details.
- In Payoneer, select “Withdraw funds to my bank.”
- Add your Wallbit account details.
- Wait for the bank account to be approved.
- Select Wallbit as the destination and confirm the withdrawal.
Payoneer may take between 30 minutes and 3 days to approve a newly linked bank account.
Once the funds arrive, you can keep your dollars in Wallbit to pay, save, or invest internationally. You can also withdraw pesos instantly to your local bank account at a competitive exchange rate.
The advantage of using Wallbit in this setup is that you receive the dollars first and decide later when to convert them to pesos.
Which Payoneer withdrawal option is best?
The best option depends on what you want to do with your funds.
If you need pesos immediately, withdrawing directly from Payoneer to a local bank account in pesos may be the simplest option. Before confirming the transfer, compare both the fee and the effective exchange rate.
If you want to keep your dollars, you can withdraw directly to a Santander USD savings account or use Wallbit to receive your Payoneer funds and withdraw USD to any bank in Argentina via SWIFT.
If you are not sure when you will need pesos, receiving the funds in Wallbit first lets you keep them in U.S. dollars and decide later whether to withdraw them in USD or ARS.
In every case, compare the net amount you will actually receive, not just the advertised fee.
Conclusion
Withdrawing money from Payoneer in Argentina does not necessarily mean converting your dollars into pesos. You can choose among several options depending on the currency you need, the cost, and how you want to manage your funds.
With Wallbit, you can receive U.S. dollars from Payoneer into a global account, keep them in USD, and decide later how to use them.
