Published on

HOW TO CASH OUT ON TIKTOK: My Experience with Payoneer vs. PayPal

Introduction

Welcome to my channel! Today, I want to share my experience regarding how I cashed out my money on TikTok using Payoneer and PayPal. I’ll explain the differences between the two platforms based on my personal utilization.

Cashing Out with Payoneer

When I started cashing out on TikTok, my first withdrawal was through Payoneer. Payoneer has a minimum withdrawal policy of $ 50. Their fees are quite reasonable, charging just $ 1 for withdrawals. However, I encountered a complication: I had only $ 30 in my wallet and needed immediate access to my funds.

To my frustration, I discovered I could not cash out until my balance reached at least $ 50. Therefore, if you plan to use Payoneer, ensure you have accumulated at least $ 51 in your account. The extra dollar covers the withdrawal fee, making the minimum cash-out effectively $ 50.

Cashing Out with PayPal

In contrast, I find PayPal significantly more user-friendly for withdrawals. With PayPal, you can withdraw any amount starting from as low as $ 1. Whether your balance is $ 10 or $ 1,000, you have the flexibility to cash out immediately.

Setting up a PayPal account while in Nigeria requires some assistance. It’s advisable to get a friend or family member abroad (in countries like the USA, Canada, or the UK) to help you open the account. They can use their name and phone number to create the account while you provide your email and password to gain access later.

After opening a PayPal account, you’ll be able to link it to your TikTok profile easily and withdraw the money anytime you want.

How to Set Up Payoneer and PayPal

To open a Payoneer account in Nigeria, simply download the app on your phone and input your necessary details. However, you must complete the verification process via a laptop by entering your valid ID and other required information.

For PayPal, contact a friend or family member abroad to help create an account with their personal details while you maintain control over the email and password for the account.

Conclusion

Both Payoneer and PayPal have their advantages, but for immediate access to your funds, I strongly recommend PayPal. It allows you to withdraw smaller amounts and provides a more straightforward process if you have assistance from someone in another country.

If you want to learn how to link your Payoneer to TikTok, check the video I created on that topic. While TikTok might not allow linking accounts in Nigeria, I have also shared a trick for that, so check that out too!

Thank you for tuning in, and I'll see you next time! Peace.

Keywords

  • TikTok
  • Cash Out
  • Payoneer
  • PayPal
  • Withdrawal
  • Minimum Balance
  • User Experience
  • Nigeria
  • Account Setup

FAQ

Q: What is the minimum withdrawal amount for Payoneer?
A: The minimum withdrawal amount for Payoneer is $ 50.

Q: Can I withdraw any amount with PayPal?
A: Yes, with PayPal, you can withdraw amounts starting from as low as $ 1.

Q: Do I need assistance to set up a PayPal account while in Nigeria?
A: Yes, it's suggested to have a friend or family member in another country assist you to create a PayPal account.

Q: How do I verify my Payoneer account?
A: You must complete the verification process on a laptop using a valid ID and other required information.

Q: Can I link my TikTok account to Payoneer in Nigeria?
A: While TikTok may not support direct linking to Payoneer in Nigeria, there are methods to work around this.

Read More