How to use a Payoneer Debit Card in India

I've been working with Odesk for almost two years, and got started with Guru dot com just last week. And somehow the dream of making a decent living from the comfort of my home has been struck down again and again by Paypal, one of the most popular forms of payment on the internet.

Somehow this has been the bane of my life since January 2009, wondering if the payments will drop into my bank account at HDFC which is a damn good Indian bank, comparable to banks across the world.
Not only has been really annoying, frustrating and so on and so forth causing me to wonder whether I made a good choice by moving away from Instructional Design  to freelance writing, I'm still confused as to whether Paypal will finally resolve its issues that it currently has with Indian banks at the moment.

However, Odesk, being as cool as it is... sent out a group mailer for independent contractors in India to take another payment option called Payoneer, by waiving off the $ 10 fee.
I took this chance instead of waiting around like I have for the past couple of years.Of course, which worked out for the better. Here are some steps if you are struggling with payment from Paypal too (just try it!!):

STEP 1: You have to apply for a Payoneer card, through whichever freelance service you use. and you'll get the card about 15 to 20 days later, not unless you live under a rock!

STEP 2: You have to go to your account (which you should have created earlier) at the Payoneer website, and enter the card number (that you have received) as well as a four digit PIN of your choice. Keep that PIN safe!

STEP 3: Next, transfer the money from your freelance service to Payoneer by selecting the appropriate payment method, for which you might incur a $2 fee depending on which site you use. (I transfer it from Odesk to Payoneer)

STEP 4: Once the funds appear in your Payoneer account (almost immediately!), proceed to load it on to your card. Now there are two options here, the first of which being loading the money onto your card (which will cost you about $ 2.50) within two hours or the second option which will load the money onto your card in two business days with no transaction fee.

The next set of steps include withdrawing money from an ATM in India.

Background: For some reason, I trust ICICI as a bank even though I don't have an account, and continue to loathe the nationalized banks (such as SBI, SBH, PNB and so on and so forth). Personally, I feel they're in the dark ages.

Anyways, this is what I did, to receive funds accordingly. I first made sure that the money was indeed loaded on to the card, by checking the balance (in dollars) at my Payoneer account.

STEP ONE: I found the nearest ICICI ATM which had an facility where the machine ONLY required you to swipe and remove the card immediately. Don't use ATMs that take in your card, as it might not give it back to you if there are some issues with transactions.

STEP TWO: Once you swipe the card, select the 'Current' option, and NOT the Savings account option. You'll lose 90 cents every time you do this...

STEP THREE: Enter the PIN (you selected) and the amount of money that you'd like to withdraw.

STEP FOUR: You'll receive the money promptly. Enjoy!

NOTE 1: A transaction fee of $ 2.15 (roughly about Rs. 120) is charged for every transaction, so ensure that the withdrawals you make is a sizeable one, perhaps keeping the number of transactions a month to about 2-3... which is how much a bank would charge you in service fees anyways etc.

NOTE 2: Also note that a one-time charge ONLY of roughly $9 to $13 (about Rs. 650) will be withdrawn from your account for the first transaction.

NOTE 3: Please also remember that for using this card, the bank charges you about $4 a month, and I consider it to be minimal as I don't have to consistently worry about maintaining a balance, as I'm a big and erratic spender ;)

For those with doubts about switching to Payoneer, don't harbor any... it works very well, only if you follow these steps properly in India. Good luck and more money to you...

PS: Thanks Odesk.

How ebanking can ease your life

Penalty due to non-payment of bill is not new to anyone of us. And quite obviously, who likes the long procedure of writing a cheque, standing in a long queue and then ensuring that the particular amount is available in your bank account? Similarly, Mr Sharma, who is on business tour for at least 25 days a month, finds it difficult to clear his dues on time because of his busy schedule.



He, like many of us, was possibly not aware of the online services, banks are offering these days. With just a click, all his dues would have been cleared long back. However, it's never too late to mend.
Indian banks are trying to make your life easier. Not just bill payment, you can make investments, shop or buy tickets and plan a holiday at your fingertips. In fact, sources from ICICI Bank [ Get Quote ] tell us, "Our Internet banking base has been growing at an exponential pace over the last few years. Currently around 78 per cent of the bank's customer base is registered for Internet banking."

To get started, all you need is a computer with a modem or other dial-up device, a checking account with a bank that offers online service and the patience to complete about a one-page application--which can usually be done online. You can avail the following services.

Bill payment service
Each bank has tie-ups with various utility companies, service providers and insurance companies, across the country. You can facilitate payment of electricity and telephone bills, mobile phone, credit card and insurance premium bills.
To pay your bills, all you need to do is complete a simple one-time registration for each biller. You can also set up standing instructions online to pay your recurring bills, automatically. One-time standing instruction will ensure that you don't miss out on your bill payments due to lack of time. Most interestingly, the bank does not charge customers for online bill payment.

Fund transfer
You can transfer any amount from one account to another of the same or any another bank. Customers can send money anywhere in India. Once you login to your account, you need to mention the payees's account number, his bank and the branch. The transfer will take place in a day or so, whereas in a traditional method, it takes about three working days. ICICI Bank says that online bill payment service and fund transfer facility have been their most popular online services.

Credit card customers
Credit card users have a lot in store. With Internet banking, customers can not only pay their credit card bills online but also get a loan on their cards. Not just this, they can also apply for an additional card, request a credit line increase and God forbid if you lose your credit card, you can report lost card online.

Railway pass
This is something that would interest all the aam janta. Indian Railways has tied up with ICICI bank and you can now make your railway pass for local trains online. The pass will be delivered to you at your doorstep. But the facility is limited to Mumbai , Thane, Nashik, Surat  and Pune. The bank would just charge Rs 10 + 12.24 per cent of service tax.

Investing through Internet banking
Opening a fixed deposit account cannot get easier than this. You can now open an FD online through funds transfer. Online banking can also be a great friend for lazy investors.
Now investors with interlinked demat account and bank account can easily trade in the stock market and the amount will be automatically debited from their respective bank accounts and the shares will be credited in their demat account.

Moreover, some banks even give you the facility to purchase mutual funds directly from the online banking system.

So you need not worry about filling those big forms for mutual funds, they will now be just a few clicks away. Nowadays, most leading banks offer both online banking and demat account. However if you have your demat account with independent share brokers, then you need to sign a special form, which will link your two accounts.

Recharging your prepaid phone
Now you no longer need to rush to the vendor to recharge your prepaid phone, every time your talk time runs out. Just top-up your prepaid mobile cards by logging in to Internet banking. By just selecting your operator's name, entering your mobile number and the amount for recharge, your phone is again back in action within few minutes.

Shopping at your fingertips
Leading banks have tie ups with various shopping websites. With a range of all kind of products, you can shop online and the payment is also made conveniently through your account. You can also buy railway and air tickets through Internet banking.

Internet banking versus traditional method
Inspite of so many facilities that Internet banking offers us, we still seem to trust our traditional method of banking and is reluctant to use online banking. But here are few cases where Internet banking will turn out to be a better option in terms of saving your money.
'Stop payment' done through Internet banking will not cost any extra fees but when done through the branch, the bank may charge you Rs 50 per cheque plus the service tax.
Through Internet banking, you can check your transactions at any time of the day, and as many times as you want to.

On the other hand, in a traditional method, you get quarterly statements from the bank and if you request for a statement at your required time, it may turn out to be an expensive affair. The branch may charge you Rs 25 per page, which includes only 30 transactions. Moreover, the bank branch would take eight days to deliver it at your doorstep.

If the fund transfer has to be made outstation, where the bank does not have a branch, the bank would demand outstation charges. Whereas with the help of online banking, it will be absolutely free for you.
As per the Internet and Mobile Association of India's report on online banking 2006, "There are many advantages of online banking. It is convenient, it isn't bound by operational timings, there are no geographical barriers and the services can be offered at a miniscule cost."

Security Precautions
Customers should never share personal information like PIN numbers, passwords etc with anyone, including employees of the bank. It is important that documents that contain confidential information are safeguarded. PIN or password mailers should not be stored, the PIN and/or passwords should be changed immediately and memorised before destroying the mailers.

Customers are advised not to provide sensitive account-related information over unsecured e-mails or over the phone. Take simple precautions like changing the ATM PIN and online login and transaction passwords on a regular basis. Also ensure that the logged in session is properly signed out.

ICC Announces ICC ODI Team of the Year; Names MS Dhoni as Captain

Mahendra Singh Dhoni MS Dhoni has been named captian of the ICC ODI Team
of the Year

That the recent results have had little bearing has been shown in the fact that there are four Indian cricketers and two Sri Lankan cricketers in the ICC ODI Team of the Year, announced as a prelude to the LG ICC Awards to be held later tonight. Mahendra Singh Dhoni may have come under fire on India’s tour of England but he continues to be a popular candidate as shown by the announcement of the Indian captain as the captain of the ICC ODI Team of the Year.


Like the ICC Test Team of the Year that was named when announcing the LG ICC Awards 2011 shortlisted nominees, the ICC today announced its ODI Team of the Year, as chosen by a specially appointed selection panel chaired by West Indian batting legend and former captain Clive Lloyd. The announcement was made at a special function ahead of the LG ICC Awards ceremony which is being held this evening at the Grosvenor House Hotel, London. Presented in association with FICA, the LG ICC Awards recognise the best international players and officials of the past 12 months.

ICC ODI Team of the Year (in batting order):

Tillakaratne Dilshan (SL)

Virender Sehwag (Ind)

Kumar Sangakkara (SL)

AB de Villiers (SA)

Shane Watson (Aus)

Yuvraj Singh (Ind)

MS Dhoni (Ind, wicketkeeper/captain)

Graeme Swann (Eng)

Umar Gul (Pak)

Dale Steyn (SA)

Zaheer Khan (Ind)

12th Man – Lasith Malinga (SL)

Six countries are represented in the 12-man line-up and just one player – Mahendra Singh Dhoni of India – four years in a row. The ICC Cricket World Cup 2011 winning captain keeps wicket and leads the side and is joined by fellow ICC ODI Team of the Year 2009 members AB de Villiers of South Africa and Shane Watson of Australia. There are four Indians in the side, all of whom were involved in India’s ICC Cricket World Cup 2011 victory over Sri Lanka in Mumbai in April of the year. Meanwhile Sri Lanka’s Tillakaratne Dilshan, Kumar Sangakkara and Lasith Malinga, who were all part of the side that lost out to Dhoni’s men in the final on 2 April 2011 at Wankhede Stadium, are selected for the team too.

Umar Gul finds himself as the lone Pakistan cricketer in the ICC ODI Team of the Year while Shane Watson is the only representation for Australian cricket on the prestigious list as decided by the panel. South Africa’s spearhead, Dale Steyn, and new South African ODI captain, AB de Villiers, make the cut on the team as well. New Zealand find no players on their list, even though the team as a whole managed to beat South Africa to make the semi finals of the ICC Cricket World Cup 2011, suggesting individual improvements may be the need of the hour. Incidentally apart from England spinner, Graeme Swann, England also find themselves with a single person representation.

Interestingly or rather incidentally Mahendra Singh is the only Indian cricketer currently out on the tour of England with Yuvraj Singh, Virender Sehwag and Zaheer Khan all injured and back home nursing injuries. Amongst the four Indian names, Sachin Tendulkar is an obvious miss on the list which some die hard fans may well question the wisdom of.

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