How to Buy Bitcoins from Coinbase (Using Payoneer Debit Card)

Use Payoneer to Add bank Account in Coinbase

Use Payoneer to Add bank Account in Coinbase

Note: This method no longer works. Because Coinbase in not in the white list of approved partners in Payoneer’s system. Sorry about that. Still you can get a US Prepaid Mastercard that you can use world-wide wherever you wish to.

Buying and selling Bitcoins is getting common these days as you may realize that Bitcoin will change the way of banking system near in future. On internet, there are some uncertain rumors about Bitcoin is going to replace banking system.

But many people are having problems about how to buy Bitcoins who are located in US country side. In this way, I thought to write this article about buying Bitcoins from Coinbase by using Payoneer Debit Card.

Reason why Using Payoneer Debit Card?

Why someone will try to use Payoneer debit card to deposit funds in his Coinbase account, the reason is pretty simple that Coinbase doesn’t offer simple and reasonable payment methods to deposit funds from, it only supports a couple of payment methods, click here to see.

Payoneer’s US payment Service allows Payoneer account holders to receive commercial payments from US based companies, just like anyone with a US bank account.

How Payoneer Works

How Payoneer Works

Here is the details that Payoneer will provide you as your US Payment Service information (Go to Receive Payments → My US Payment Service Profile):

  • BANK NAME: Bank Of America
  • ACCOUNT TYPE: CHECKING
  • ACCOUNT #:0000********4746
  • ABA # (Bank Routing Number):0********214

Adding a Bank Account in Coinbase (Payoneer US payment Service)

Follow the steps below:

Step#1

So, now being any where we can have a US bank account using Payoneer as you can see the information above that can be used to deposit funds in Coinbase account using the first payment method +Add a Bank Account which is only for US resident but since we have Payoneer US payment service we can use it just like anyone with a US bank account.

Payment Methods of Coinbase

Payment Methods of Coinbase

Step#2

Now, to link a bank account, you will need to add your US payment service details ( (Go to Receive Payments → My US Payment Service Profile)) and click the button Next.

Link a Bank Account in Coinbase

Link a Bank Account in Coinbase (Click to enlarge)

Step#3

Maybe you will get an error about routing number could not find. Just tick the box (Yes, I’m sure it is correct, Please continue). A screenshot about the error is given:

Confirm the Routing Number is Correct in Coinbase

Confirm the Routing Number is Correct in Coinbase

Step#4

Once you done this process, your American bank account will be added to your Coinbase account here is the screenshot for more elaborative guide (Just click the Verify button):

Verify Bank Account in Coinbase

Verify Bank Account in Coinbase

Step#5

Now, on clicking the Start Deposit Verification button, Coinbase will make two small deposits between $0.01 and $0.99 into your bank account (and one debit for the combined amount). In 2-3 days these amounts will appear on your transaction history. You will need to come back to Coinbase and verify the amounts of two deposits (from transaction history) to complete verification.

Coinbase will send you a reminder email in two days to check your account.

Start Deposit Verification

Start Deposit Verification

Once you done all above steps carefully, just wait for 2-3 business days to update your Payoneer transaction history. Once your account got verified start adding funds from Payoneer to Coinbase account and buy Bitcoins so easily.

Conclusion

Final thoughts, I did this process to add up a bank account in Coinbase without living in US after all Payoneer card provides US payment service to all around the world.

13 Responses

  1. nico July 28, 2014 / 11:21 pm

    and if you sell the bitcoin, where do you get the funds? is it ok to withdraw vi payoneer as well?

    • MuhammadHaroon August 7, 2014 / 3:08 pm

      Yes, of course that’s fine.

  2. Mariano July 30, 2014 / 2:10 am

    Hi! I followed all the steps, and the result was:

    “Unfortunately as the sender, COINBASE.COM/BTC , is not a company on our white list of approved senders, we were unable to process this payment. The payment has been returned to COINBASE.COM/BTC and you have not been charged any loading fee.”

    If Coinbase is not approved by Payoneer, this post seems is not useful at all.

    Cheers

    • Mariano July 30, 2014 / 2:18 am

      Updated:

      Response from Payoneer’s Community Manager:
      “Hi,
      We don’t currently work with any Bitcoin or Digital currency related businesses.”

      • MuhammadHaroon August 7, 2014 / 3:12 pm

        hhhmmmmm. Many many thanks.

    • MuhammadHaroon August 7, 2014 / 3:09 pm

      Well, thanks for the update @Mariano. Let me update this article.

  3. Jorge July 30, 2014 / 11:00 pm

    Seems like there is no way to do it now, since payoneer said that coinbase is not on a whitelist or something like that, any idea?

    • MuhammadHaroon August 7, 2014 / 3:12 pm

      Exactly. I’ve updated the article. And you will find the details in the starting of the article @Jorge.

  4. Arahel August 17, 2014 / 10:16 pm

    Ok it might not work for extracting your BTC but it does work to buy them.
    As Coinbase is not in the wite list of Payoneer you are not able to get a deposit to your account from Coinbase but you can still use it to buy BTC in Coinbase.
    And use another method to withraw from Coinbase.

    • MuhammadHaroon August 18, 2014 / 10:19 am

      Yep, that would be a nice idea @Arahel. Thank you for sharing your suggestions. I appreciated.

    • Serafín August 20, 2014 / 6:53 am

      Nope, to validate your Payoneer account on coinbase (Before buying), you need to confirm your account with a deposit.

  5. OGUNLEKE ABIODUN January 9, 2017 / 8:24 pm

    Now which website can we use payoneer debit card to buy bitcoin any update?

  6. paul January 30, 2017 / 6:58 am

    mr serafin can you explain better.

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