Today I tried to link Payoneer to UpWork. After successful link, it stated debit card although I have linked Egyptian bank account and it was approved. Did you encounter something like that?
When you send your first payment from UpWork to Payoneer , the team of Payoneer will ask you to verify your identity (if you haven't already done so). You can send them a request that you don't wish to get that debit card.
They gave me an option to add a USD bank account if I wish (I already has one due to lots of wonderful packages offered by Arab Bank to university staff unlike NBE). Once I sent them the account details, they approved it. You can still use your EGP account with conversion if you wish.
The thing you should consider is , you can't withdraw to your bank an amount less than 200$ USD. Also Payoneer deduces 2% of the transaction unlike what I have been told earlier. It is still better choice than Wire Transfer (for me) and PayPal (it takes 4% of incoming payments).
I carried the first withdraw to bank account 2 days ago. It may take up to 5 business days to receive it. I'll keep all updated.
During the past period. I got the oppoertunity to try the three payment methods:
- Payoneer: After verifying my identity (using national ID). I successfully added my Egyptian bank accounts (both EGP and USD) and requested not to get the credit card they send (with 25$ fees so I saved myself from this). The fees are 2% of the sent amount (min. of 200$).My bank fees was 10$ if less than 1000$ and 20$ if 1000$ or more per transaction.
- PayPal:Since PayPal is linked to my credit card. I had to upgrade the account of PayPal for free to "Business" to be able receive money from UpWork or any other website. PayPal takes 5$ per trasnaction but money is transferred in EGP and the bank took like 25 EGP over all. But pay attention that on another freelancing website, the PayPal service took nothing as fees. Others took 4%. I'm not sure about UpWork as I haven't used it on this particular site.
- Wire transfer:It is a 30$ in addition to reception fees (same as Payoneer above).
So it is now up to you to select the best method. Just make sure to NOT WRITE ANY COMMENTS when you send Payoneer transfer as it caused my transaction to be held for a week (I only wrote UpWork payment).
Another thing is your bank fees may vary from bank to another and also possibility to open a USD bank account. The NBE refused to open an account until I receive my first transaction. On the other hand, The Rab bank made me open my USD account from home.