Payoneer to JazzCash vs Payoneer to Bank Account Withdrawal in Pakistan

JazzCash recently partnered with Payoneer and in Pakistan most of the freelancers and affiliate marketers get their earnings in Payoneer account. Some withdraw USD from Amazon, Adsense and other affiliate programs and freelancers withdraw money from freelancing sites like,, and others.

After JazzCash added this Payoneer to JazzCash withdrawal option in JazzCash app, there’re so much chaos about the actual withdrawal cost of Payoneer dollars in JazzCash account.

The problem started when people checked the conversion rate on withdrawal in JazzCash app. It’s near to open market rates of dollar in Pakistan. But there is some withdrawal and other fee that one must know before moving to JazzCash withdrawal option.

Note: This option attracted many because $ conversion rate from Payoneer to bank account withdrawal is 151.50(Round Figure) as on 16-dec-2019.

Anyways let’s get into it and see which one option is better to withdraw.

Payoneer’s exchange rate(Today) to bank= 151.91 PKR
While on JazzCash today’s withdrawal rate is = 154.98 PKR
Open market USD to PKR rate is = 155.74 PKR
JazzCash mobile account to bank transfer 8001 to 10000Rs= 150Rs

So if we want to withdraw Rs. 10,000 from Payoneer to our bank, it’ll take us $65.82 (@ 151.9196PKR) to withdraw directly in our bank, and we’ll be able to withdraw it with our ATM card without paying any further fee/charges.

While on the other side if we do the same transaction through JazzCash, so It’ll take us $64.52 + 2% Payoneer fee ie. ($1.29 x 154.98PKR = 199.92PKR), fee = $65.81 x 154.98PKR = 10,199.23PKR.

If you have JazzCash Debit Card then you’ll be charged Rs. 110 on withdrawal of Rs. 10,000.

If you go to a JazzCash Dealer/Franchise and withdraw Rs. 10,000 you’ll be charged Rs. 180.

If you send these rupees 10,000 to your bank account from your JazzCash Mobile Account then you’ll be charged 150 rupees.

So the 10,000 withdrawn through your JazzCash app will cost you 199.23 rupees with any withdrawal option you select, for example cash from dealer (180 Fee)= 379.23 rupees.

In the beginning we compared the exchange rates of Payoneer to direct bank (151.9196) and Payoneer to JazzCash (154.98), 154.98-151.9196= 3.0604 rupees.

This seemed a huge difference, but in actual there’s no difference at all, in fact we’re paying extra 379.23 rupees for using JazzCash withdrawal, because for 10,000 rupees we withdrew $65.82 (Payoneer to direct bank) and $65.81 [(2% included) Payoneer to JazzCash)] and also paying withdrawal fees.

So the conclusion is that, it is only good for those who are worried to withdraw small amounts sometimes like $10 or $20 and want to use directly through their JazzCash App for a mobile load, utility bill payment or shopping at McDonald or anywhere else facilitated by JazzCash App, as Payoneer doesn’t allow withdrawal of such small amounts to bank account, their minimum is $100.

Otherwise we’re good to withdraw directly in our banks. 😉

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