How Payoneer converts your dollars to rupees
When you withdraw USD, EUR or GBP from Payoneer to a bank account in Pakistan, Payoneer converts it to PKR. It doesn't list this as a separate line — instead, the rate you get is up to about 2% below the mid-market rate (the rate you see on Google). That gap is the conversion fee.
For example, if the mid-market rate is Rs 277 per dollar, a 2% spread gives you about Rs 271.46. On a $1,000 withdrawal that's roughly Rs 5,540 you never see itemised.
Rupees received = amount × mid-market rate × (1 − conversion fee %) − any bank tax
Payoneer to PKR at Rs 277 and a 2% spread
| Payoneer balance | Mid-market value | You receive | Spread cost |
|---|---|---|---|
| $100 | Rs 27,700 | Rs 27,146 | Rs 554 |
| $250 | Rs 69,250 | Rs 67,865 | Rs 1,385 |
| $500 | Rs 1,38,500 | Rs 1,35,730 | Rs 2,770 |
| $1,000 | Rs 2,77,000 | Rs 2,71,460 | Rs 5,540 |
| $2,000 | Rs 5,54,000 | Rs 5,42,920 | Rs 11,080 |
Example rate only. The calculator above uses today's live rate.
Other Payoneer fees to know
- Receiving fees. Payments from clients via a Payoneer payment request typically cost 1% by bank transfer and 3% by card. Marketplace payouts from Fiverr or Upwork are charged by the marketplace instead (see the Fiverr and Upwork calculators).
- Annual account fee. Payoneer charges $29.95 a year if your account receives less than $2,000 in 12 months.
- 2025 changes for Pakistan. Payoneer revised several fees for Pakistani accounts in 2025, including charges on Payoneer-to-Payoneer transfers and withdrawals to foreign-currency accounts. Check the Fees page inside your account for your exact rates.
Getting the exact number
Before you confirm a withdrawal, Payoneer shows the exact rate. Type that into “Exchange rate” and set the conversion fee to 0% to get a precise rupee figure. Keep your Proof of Remittance Certificate (PRC) from the bank — it documents your income as an IT export for tax purposes.
Frequently asked questions
What rate does Payoneer use for PKR?
Payoneer converts at its own rate, which is up to about 2% below the mid-market rate. The calculator applies that spread to today's live rate. For an exact figure, enter the rate Payoneer shows on the withdrawal screen.
How much is $100 from Payoneer in Pakistani rupees?
At a mid-market rate of Rs 277 and a 2% spread, about Rs 27,146. Rates move daily, so use the calculator above for today's figure.
Can I avoid Payoneer's conversion fee?
If you hold a USD account at a Pakistani bank, you can withdraw in dollars for a flat fee instead of converting. Your bank then converts when you need rupees, at its own rate — so compare both before choosing.
Does my bank deduct tax on Payoneer withdrawals?
Some banks deduct withholding tax on freelance export remittances. The rate depends on your filer status and registration. If your bank deducts it, enter the percentage under Extra deductions.
Does this work for India, Bangladesh or the Philippines?
Yes. Change “To your bank in” to INR, BDT, PHP, NGN or another currency and the calculator uses the live rate for it.
TakehomeKit is independent and not affiliated with Fiverr, Upwork, Payoneer, Wise or any other company mentioned. Fees, limits and tax rules change; we check them regularly, but always confirm the final number with the platform or an adviser before you rely on it.